Hotel project in Nicaragua or Panama

Hi everybody,

We are a French couple Graciana & Livier (28 & 29 years old). After many trips and a tuff return in France, we would love to go back abroad and this time to invest our savings in a hotel project.

We would be highly interested in Central America and particularly in Nicaragua and Panama to settle and raise a business. That’s the reason why we post this message as we have many question to prepare our reconnaissance trip which should be soon (before the end of May):

1) Which is the most touristic country? Panama or Nicaragua?
2) Where can we get more info about the tourism industry in those 2 countries in order to establish a “realistic” business plan?
3) Which are the most touristic areas and the ones which offer a high potential for the future?
4) How much should we plan to buy a land of around 3 Acres in a nice area close to the beach in Nicaragua and Panama?
5) Does Nicaragua offer the same tax advantages as Panama as INTUR should give advantages to foreign investors in the hospitality industry? If anyone can help us about this we would be very thankful as we imagine that there is a large gap between what it is written in the official texts and in real…. Concerning the INTUR, we unfortunately can not access to their website, perhaps we have the wrong address: www.intur.gob.ni
6) Could you recommend us people to meet during our trip that we can trust in (real estate agents, builders, immigration consultants,…)

We thank you very much for all your answers and advices, as it is always a big challenge to immigrate with an investment project in a new country where the culture and habits are different.

Graciana & Livier

Wooh, Guys....slow down. Before you invest your life savings in Panama or Nicaragua, I would suggest that you rent for at least a year. If you rent for a year, you will have a much better opportunity to network, acclimate to the culture, and build trusting relationships with those in the know.
I know, because we moved to Nicaragua with the intention of buying a small backpacker's hostel. Within 2 months, we realized that we didn't want to have anything to do with owning a hostel. Fortunately, we hadn't invested any money. Instead, we rented a little house and lived there for a year, volunteering and exploring Nicaragua. We made many lifelong friends that we trust, and also learned valuable lessons about operating a business and buying property in Nicaragua.
After that wonderful experience, we decided to go to Panama and investigate the possibilities of living there. But, it just didn't 'feel right' to us. We talked with lawyers, expats, and locals. We had to go with our gut feelings that Panama wasn't for us.
So, now we're thinking of returning to Nicaragua. This time though, we have a network of expats and locals whom we trust. This whole process has taken us 5 years. But, I'm glad that we took the time to explore all of the possibilities.
We've seen 'newbies' come and go quickly. My advise is not to burn any bridges back home. There is no utopia. It takes time and patience to build a network of trusting relationships in a foreign country. You are both young. Be patient. Rent in your preferred country first and you will know what place feels right for you. That's just my two cents worth of advice. Sorry it's not what you are looking for, but I've been there and done that and investing your life savings in a foreign country that you are not completely familiar with, from advice on a chat forum of travel is a BIG mistake.

Hello Gypsytoes,
Thank you very much for your answer. As we do not know very well Nocaragua and Panama, that's the reason why we sent this message in order to get point of views and life experiences from other people. We are totally aware that it can be very risky. Anyway, we ll go there soon to explore the business opportunities and then we ll see how we ll feel about it.

If you need more specific information, please feel free to PM me. I don't mean to be harsh...I just want to save you some trouble. :-)

It s cool... We need as much information as possible and also real experiences from other people.
If you could answer to the questions that we asked in the 1st message, that would be very kind from you as you the both countries.
Cheers, Graciana & Livier

Tourism in Colombia has been rising by 50% a year. Now is the time to get into it. Santa Marta is a good place to try.

Colombia has:
3rd happiest people in the world
most biodiversity per km2 of any country in the world.
Most beautiful citeis in the americas
Safest cities in Latin America

It's not always the easiest to do business but it has a better lifestyle and the food is so much better than central america.

#5

Would you stop plugging Colombia every damn post. Its not even relevant to the question. Vietnams tourism is also expanding 25% a year, so what!

In regards to the poster-

You dont seem to have really done much homework nor be aware of the business, political and tourism climates of either country.

At the rate Nicaragua is slipping into a possible collapse, not to mention its not very Foreign Investment friendly, why on earth would you ask such a naive questions? You need to spend time in a given area, and get to know the ropes, issues, problems and red tape you face.

There also will be some great buys regarding existing lodges/hotels as the tourism continues to decrease, and foreign investment is drying up, its been a sellers market and land prices sky high until last year, give it another year, at least.

Considering the contrast of both the culture, governments, political climate, and future of Nicaragua and Panama, I beg to ask what exactly you deem to be Nicaragua's strengths at this point?

i´d certainly like to know where the delicious food is that poster 5 is talking about...especially in santa marta

they have good fish...and that´s about it..all of the americas have good fish...just a difference in price and seasons

...i´m just outside of santa marta right now and waiting for your recommendations to eat tonite

incidentally tourism is down in colombia at this point in time...read el tiempo

Well, that depends on what you want. The Ocean Mall has amazing pizza as does the pizza stand closest to Casa Blanca in Taganga. Santa Marta reallly isn't the best for food compared to the rest of Colombia but the Toy San chinese place is ok if you want a lot of food. I like the Langastino chow mein.

I think it's the Asada Banadara that I like but I'm not great with names. It has 3 locations. That cafe in Tagana with the interenet cafe and live music every night has some decent pasta.

Santa Marta isn't the best for food by Colombian standards. People in Santa Marta aren't as refined as the rest of Colombia. They are known for working until they have enough for a bottle of rum. They love their costeno soup for their hangovers though.

I've spent a year in Santa Marta but I don't eat out a lot. I tend to have home cooked meals which are the only ones cooked with any degree of pride.

If you want to eat like a king, go to Cartagena. There are lots of Italians there who taught the locals a thing or two. There are lots of fantastic gourmet restaurants and I am rarely disappointed. Though I haven't spent as much time in Cartagena, I have eaten out a lot more there but I've got a buddy in Los Gaviotas who is amazing in the kitchen.

In El Rodelero, I usually go to a place on the beach next to an ice cream place (not yogen fruz but maybe cream helado). Again with the names. There are some fantastic Empanadas on the beach and the best deal in there is fried fish from a guy who walks around with pre-cooked fried fish meals for 6000COP.

Hit the resort by the river on the way to Minca. There are several little restaurants there by the river in jungle gardens that are really nice. Minca itself has some good places but you guess which they are.

Drink lots of Juice. Santa Marta is the queen of juice. My favourite is Kelly in Taganga. She has the hebrew writing on her stand. I used to go to the titanic but it sank. Try new fruits. There are 202 kinds of fruit grown commercially in Colombia.

Clear as mud?

rodadero...beach for personal watercraft and all the noise that goes with it...might as well go to waikiki..nice looking beach though and good for frisbee

taganga...you´re talking about mojito net.....yeah great place for gringos...walk by it every day...only good thing about it is rolando when he sings some of his personal colombian songs about the plight of colombia

santa marta´s chinese place on 22 calle...sucks

...if you want to eat well in taganga you have to make friends with the old lady cooks...make them feel like you´re their son and they will feed you accordingly...the only way to get good food in taganga

...in santa marta do the same with the cooks at miramar....others eating there wonder where on the menu you ordered....tell them communication is the answer...

i don´t say you´re full of bs...solohobo..i say you repeat things that have been written elsewhere many times....you have nothing new to add that we haven´t read elsewhere

...tell us something new...and no more cut and paste from what you found in a newspaper or book...

what else do you want outlawed solohobo

when i was young the statement ....there ought to be a law against that...was very popular

....now there is a law against it...have to go to 3rd world countries to find any freedom in this world

..rarely see a jet ski in taganga...a short distance from rodadero and santa marta where they are in numbers...but it´s only a matter of time

..they are ready to tear down the malecon...further restrict the fishing boats for the turism business trade...doubled their occupancy levels in past few years...all the while ignoring their sewage treatment which flows down the hills to the malecon where you cannót help but step in it if not super cautious

...time to move on...with a sad heart but much like my feelings over many places in costa rica where the gringos and their car rentals and western tastes has drastically changed the serenity of a once beautiful country

..but alas we still have puntarenas where the solohobos of this world fear to tread...in fact blast when puntarenas is the only thread linking the country to its past history

Solohobo your anger consumes you.

There are two chinese places on that street but they aren't great. I was just trying to get out the few places that are good. I can get an ok meal almost anywhere in Santa Marta but oddly enough the downtown part is the most challenging.

I live in a neighbouhood in Santa Marta close to cisne where I don't think a white guy had ever visited before me. It's great but I like to go to places overrun with gringos once a week so I can speak some English. I find a lot of those gringos are pretty cool. I usually hit Mojito net (thanks pada mi recuardas) and the garaje after where there is some gringo music (well a couple of songs a night) some loneley planeters and some superfine chicitas.

I used to run away from other gringos but now I run to them.

Sure, the food sucks in Santa Marta. It's the best for me only because of my awesome herb garden and my costena wife who learned a few things from her Italian friends. Oh, and the farmers who sell some great fruit and vegetables from their donkey carts.

Do you know what's cool about Santa Marta is the carefree people. There is more racial harmony there than anywhere else I have been in Latin America and the class lines are at least a little blurred there. The city of Santa Marta isn't great by Colombian standards but the real attraction is the natural wonders near there.

I really like how you can quickly go to Taganga or El Rodelero depending on your mood. For me El Rodelero is great for a hangover and Taganga is good to Party (I think a Colombian would tell you the exact opposite).

Hi,
Thank you very much for your post. Concerning the homework, that s what we are doing at the moment. I am a bit surprised by your revelations concerning the devolpment of the tourism in Nicaragua. All the information that we have collected reveal that the tourism is increasing and not dicreasing.... but perhaps you live in this country and you have other studies.
Concerning the tax environment for the foreign investments in the tourism industry, we found information on the INTUR website. What we wanted toknow is if what they say is true or is just something nice written on their website. Again if you have your business in Nicaragua I am sure that you know better than us (behind a computer in France) what the reality.
Looking forward to have more comments about this country.
Cheers

Chircan-

I am not consumed by anger, just find it odd you make statements, dont back them up, and then change the statement. Everything you are you say here, we challenge, so get used to it or make true statements.

I love to be challenged but you take it to a personal level. Try to stick to the issues. "Chriscan is full of BS - Don't listen to him" Not too constructive.

If you think we live in a world of truth and lies, right and wrong, you live in a different world than I. There is always more than one path to the place you are going.

I like being challenged. Keep it up, just keep it at an idea level, not personal attacks and slander.