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Thread: 5 year Permanent Investor Residency

  1. #1
    Granada English College Tomas Scott Banks's Avatar
    Join Date
    Oct 2007
    Parque Xalteva, Granada, Nicaragua

    Default 5 year Permanent Investor Residency

    I obtained an Investor Residency recently.

    Submitted by Scott Banks on 13 August, 2008 - 14:34.
    I recently obtained a 5 year Permanent Legal Investor Residency. I had $33,000 of receipts from one of the English schools I created in Granada, so I met the $30,000 minimum. MIFIC was very easy to deal with. Within two weeks of contacting them, they visited the school for an inspection and to pickup photocopies of the receipts. Two people came, one was the manager of the MIFIC office and he was bilingual.
    Within a couple weeks, they sent a formal document to Migracion, and we also delivered a signed Investor Residency form to Migracion. Within a few more weeks, I had my plastic cedula with photo. I don't have to do any more paperwork or pay any money for the next five years. I saved $650 by doing the Investor Residency because I wasn't required to deposit airfare (for deportation) in an escrow account. I also don't have to go through the trouble of renewing my residency each year like the one-year, temporary residency people do.
    Dealing with Migracion is usually a major pain in the ass. There behavior towards me indicated that they really don't want North Americans living and investing in Nicaragua. Someone with the authority, should fire the director and all of the people who work at the front windows. There is no excuse for their negative attitudes and extremely poor customer service. They are truly very unhappy people with no view to the future.
    If you are in Granada, I highly recommend Nadene Holmes at Details Management/Maverick's to assist you., or you can Google her.
    Nadene interacts with the Migracion people frequently, and she knows how to get past their self-defeating behaviors and get things done. She has lived in Granada over 5 years and is fluently bilingual. Nadene has assisted many people with getting their residencies. She works with an excellent attorney named Zaira. Zaira and two other attorneys in Zaira's office were students at my school. Nadene's daughter, Marlowe, and one of Nadene's close friends, Janik, were teachers at my school.
    Of course, you still need to get your birth certificate, police report, and health certificate processed by the Nicaraguan Consulate in your home country before you come here to apply for Investor Residency.
    I created a "S.A." Corporation for my school with a Granadina as President. This was so she could handle all of the governmental and legal procedures. and ongoing relationships for setting up the school. The President is the person with the legal power to act for the corporation. I was Vice-President. She is both an English teacher and an attorney. Once I had my Investor Residency, we legally changed me to President and her to Vice-President.
    The school is running smoothly with a good accountant so we have very few legal or government issues that need to be dealt with.
    If you are an altruistic person like me; I have worked to improve English teaching in Granada, full-time for the past three years for free, plus donated over $50,000 of my own money towards improving English schools; you might consider investing $30,000 in my school. You would get a five year Permanent Legal Residency, expert help in getting your residency handled quickly and correctly, and the satisfaction of helping Granada's tourism industry and economy develop. Plus, the students and Granadino teachers at our school are a joy to work with. They are motivated to improve their and Granada's economic future.
    There is a dire shortage of bilingual people in Granada's tourism industry. The economy cannot improve here without a growing tourism industry.
    The school provides well-paying jobs to Granadinos plus prepares hundreds of Granadinos for bilingual jobs that pay 2 to 5 times what their previous jobs paid.
    (FYI - The Costa Rican Government that spends millions of dollars teaching English in its public schools estimates they are short 30,000 bilingual employees for their tourism industry. The reason for this is they don't teach conversational English in their English classes because most of the Tico English teachers can't speak English. This was in a Tico Times article a year ago.)
    I am happy to answer any questions.
    Tomas (Scott) Banks
    Tomas Scott Banks
    Granada English College, Nicaragua

  2. #2
    Fightin Irish JackMcG's Avatar
    Join Date
    Oct 2007
    Jinotepe, Carazo.... Nicaragua & OCMD


    Hi... I don't believe I have ever met you but I did some work for you a few years ago in Granada. I worked in the language school of a young man named Adonis and had a few private english students.. one of whom was named Jairo. You were always well spoken of by all the students and their parents. I don't have money to invest in your school but I want to congratulate you on your work and wish you continued success. I also know Nadene and she is a really great person.
    "If you ain't bleeding, you ain't working!"

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