Nicaraguan  Residency  Requirements

To become a Nicaraguan Resident you could qualify as :
                                               
1. An Investor. For the Caribbean Coast of Nicaragua an
    investment of at least US$ 40,000 in real estate or
    business etc is sufficient.
   
    Similar programs exist for other regions of Nicaragua but
    minimum investment amounts are usually more
                                           OR
2. A retiree with an income of $500/mo from your country

Immigration  will  need  the  following  documents/.

1. Police certificate from your country
                  Needs to be notarized and translated
2. Health Certificate (can obtain in Nicaragua)
                  Needs to be notarized and translated
3. Birth Certificate from your country
                  Needs to be notarized and translated 
4. Passport pictures 
5. Present your passport.

The residency you get is initially  temporary for 2 years and then it becomes permanent.