VINCENT CAY– A PARADISE FOR SALE

The Pearl Cays, Costa Atlantico, Nicaragua

CONTENTS

· Description

· Terms & Conditions of Sale

· The Surrounding Cays

· The History of the Miskito Coast

· The Town of Bluefields

· The Surrounding Area

· Nicaraguan Investment Information

· Links

It is always nice to know who your neighbours are, and in this sense these few privately owned cays represent a sort of exclusive private enclave. Other owners of nearby Cays include a Swiss industrialist considering early retirement, a family of restaurateurs from Paris who visit only occasionally, an American couple, and an English family. All the cays have private owners who are just sitting on them, expecting to make enormous amounts of money eventually, and it will eventually become a sort of "exclusive enclave".

There are important natural attractions throughout this extensive area of reefs and keys which offer a range of tourist interest and leisure-time activities. Among these interests and activities would be recreational diving for both SCUBA and Snorkeling enthusiasts among a variety of unique coral formations that are found at shallow and medium depths. There are also opportunities for diving at greater depths on coral wall and other formations found in deeper waters. It is also reported that there are some wrecks of ships that have sunken at several locations, which also would be of interest for recreational divers.

Another attraction of interest in the Pearl Keys is that of sport fishing. There are a variety of game fish that are found here which include many of the important popular species which millions of sport fishing enthusiasts fish for in the Florida Keys and coastal areas, many locations in the Bahamas and in other locations in the Caribbean. The Keys offer an extensive array of these popular game fish in both size and quantity.

Among other tourism activities there can be that of Eco-tourism, bird watching and adventure trips exploring the many uninhabited islets. The largest key in this group does have extensive nesting areas for a variety of bird native to the region. In addition, a number of keys in this group also are resting points for many species of birds from North America during their annual migrations to and from Central and South America each year.

SURROUNDING ISLANDS

Cayos la Perla “Pearl Cayes”

· Wild Cay

· Baboon Cay

· Crawl Cay

· Vincent Cay

· Water Cay

· Brown Cay

· Buttonwood

· Black Mangrove Cay

· Savannah Cay

· Seal Cay

· Columbilla Cay

· Askill Cay

· Little Askill Cay

· Tungawara Cay

· Savannah Cay

· Maria Crow Cay

In front of the community of Tasba Pounie, are other five called keys

· Tyra Cay

· Little Tyra Cay

· King Cay

· Little King Cay

· Cayo Man Ó War

From the cays one can see Set Net, a Miskito village of 200 people. The cays are only 3 miles from the main coast. The mainland across from and around the islands is a low populated area full of lush vegetation, rivers and a variety of parrots, macaws, iguanas, monkeys, crocodiles, jaguars, ocelots and deer. Americans and Europeans sometimes have these animals as their favorite companions (pets).

There are about 18 cays in front of Pearl lagoon. Most of them belong to the local communities. The ones that are private were occupied by people that used the cays to grow copra from the coconuts in the late 1800’s. Some of these private cays were once sold to private parties from the Miskito King G. Augustos Fredrick himself. All the cays caused of coral formations with a lot of marine life around them. The 3 cays have superb white sand beaches and surrounded by coral reef. Since there are no structures on these cays, visitors enjoy camping under the shade of the coconut palms.

There is always a cool breeze in the cays that cools the warm tropical climate. Typically the west side of these cays is the calmer side with more beaches, where small vessels can land. The east side is where there is more breezes and exposed coral reef. The area is full of fish, lobster and shrimp. Local fisherman pass through these 3 cays on their way to the outer cays to do commercial fishing. Lobster can be bought locally from the fishermen. They are usually stationed at the outer cays such as Savannah cay or at Pearl lagoon town.

The 7 private cays protected by other cays in front of them and by the outer reef that breaks the waves. The oldest existing map on these islands is the one made by US Corps of Engineers in 1933. The islands have been inhabited for at least 200 years.

All tropical fruits like pineapple, mango, papaya and of course coconut grow in these cays. There is a lot of mango production along the Caribbean coast. The Nicaraguan mango tastes fresh, sweet, juicy and soft and there is a plenty of them for only 10 cents each. Baboon and Water cay also have cashew trees that visitors enjoy tasting. All these islands used to be coconut plantations that is why they have so many coconut producing palm trees.

The last time we visited the cays we hired a cook for about $10 a day. The first day we tasted fresh snook, the second day Caribbean lobster, and the third day jumbo shrimp. For dinner we had grilled snapper that we fished ourselves. Jumbo size fresh shrimp (camarones) is plenty here and is cooked with tomato sauce (entomatado), breaded (empanizado) and served with rice, beans and plantanas.

There are no predators in the cays and life is very easy slow and relaxing with no worries. At night we can watch the soldier crabs with a flash light. They are not larger than two inches, crawling slowly and carrying their heavy shell, like sea snails looking for food. The quiet nights you can hear the smooth sound of the ocean lapping on the beach and watch the shiny stars above the warm clear Caribbean moonlit sky.

In the morning we looked at the coconut trees when we saw the group of pelicans that live in these islands basking in the sun. Specifically, Crawl cay has a group of about 12 pelicans that live there. Bird watching here is popular, and includes blackbirds, sea gulls and the big "Man O’ War" as the locals call it, a seagull-like black bird with a wing span of 6 feet.

The aroma of fresh coffee completed our wake up, since Nicaragua is a major producer of coffee. Occasionally, maybe once a year, a sea turtle may try to nest in these cays. There is a lot of hawksbill and green sea turtle, nesting north of the cays in Sandy bay, (In Nicaragua) and south of the cays in Tortuguero (In Costa Rica).

Snorkeling is excellent in these cays. On one dive around crawl cay we saw a manta ray, a small barracuda, and thousands of pretty coral fish that live permanently in these islands. A small green turtle watched us snorkeling and slowly moved away without being bothered by our presence. Many varieties of coral, like starlet, sea-fan, brain, sea plum and boulder make underwater look like a colourful garden. Used only with government permission, black coral is individually crafted to make necklaces, bracelets and earrings. This tropical coral-jewellery is sometimes gold trimmed, while superb, and is priced very reasonable. Thousands of pretty coral fish like angel fish, parrot fish, and puffer fish make the sea bottom look like a giant colourful natural aquarium. Big crabs along with star fish contribute to the magical beauty of the spectacular sea bottom.

When tired from snorkelling and full from lunch we rested on our hammocks swaying between two coconut trees. These hand made hammocks are relatively inexpensive to buy, like everything else in Nicaragua. They are more than a convenience item. They are handicrafts with pretty colours and hand made from mahogany wood. The local communities can build mahogany furniture wood that lasts a long time, has superb quality and completes the ideal island living picture.

In the afternoon we walked around Baboon cay and collected shells along the beach, a gift from the Caribbean sea. Conch shells and hundreds of other can be collected to decorate your living room or be hung around your neck as a souvenir of your dream visit to the cays. Scattered around Baboon and Crawl coral beaches one can gather the famous "wilks" (round shells 3 inch big, black and white). These shells are hidden at the bottom of sea rocks under six inches of water. Delicious to cook, plus reputed to be aphrodisiac ! Tourists and locals come all the way from Corn island to these cays to collect wilks and shells. Local people make bracelets, necklaces from this unique sea flora, for sale to tourists and collectors.

Friendly people; superb seafood, a place of no worries, swimming in crystal clear blue waters, Caribbean festivals, birds an coconut trees, home grown tropical fruits on a private paradise. This is the lifestyle that even Jimmy Buffet will be jealous of......

The rest belong to the 38 Miskito communities, who control access to the lagoons, marshes, mangroves and reef resources. Other keys that exist in the zone are Brown Cay, Buttonwood, Black Mangrove Cay, Savannah Cay (occupied by Borquit Dixon), Seal Cay, Columbilla Cay, Askill Cay (whose title has a community of Tasba Pounie), Little Askill Cay, Tungawara Cay, Little Tangawara. Other three keys between Askill and Savannah Cay exist in addition whose names are not known, and another Key called Maria Crow Cay.

In front of the community of Tasba Pounie, are other five called keys Tyra Cay, Little Tyra Cay, King Cay, Little King Cay and Man O’ War Caye.

The Cayes have been being studied for several years by the Institute of Tourism, INTUR, and by the Ministry of Environment MARENA, because they have great possibility for Eco-tourism. The ones that are private were occupied by people that used the cays to grow copra from the coconuts in the late 1800’s. Some of these private cays were once sold to private parties from the Miskito King G. Augustos Fedrick himself. All the cays caused of coral formations with a lot of marine life around them. The 3 cays that are for sale, have superb white sand beaches and surrounded by coral reef. Since there are no structures on these cays, visitors enjoy camping under the shade of the coconut palms.

Snorkeling is excellent in these cays. On one dive around crawl cay we saw a manta ray, a small barracuda, and thousands of pretty coral fish that live permanently in these islands. A small green turtle watched us snorkeling and slowly moved away without being bothered by our presence. Many varieties of coral, like starlet, sea-fan, brain, sea plum and boulder make underwater look like a colorful garden. Used only with government permission, black coral is individually crafted to make necklaces, bracelets and earrings. This tropical coral-jewelry is sometimes gold trimmed, while superb, and is priced very reasonable. Thousands of pretty coral fish like angel fish, parrot fish, and puffer fish make the sea bottom look like a giant colorful natural aquarium. Big crabs along with star fish contribute to the magical beauty of the spectacular sea bottom.

When tired from snorkeling and full from lunch we rested on our hammocks swaying between two coconut trees. These hand made hammocks are relatively inexpensive to buy, like everything else in Nicaragua. They are more than a convenience item. They are articrafts with pretty colors and hand made from mahogany wood. The local communities can build mahogany furniture wood that lasts a long time, has superb quality and completes the ideal island living picture.

Wild Cane Cay:

Little Eden Caye: Little Eden Cay is offered for sale at $3,950,000.00 USD.

www.little-eden.info

www.little-eden-cay.com

SLICE OF HEAVEN

A family on the move

By Martin Thomas

www.phantomhouse.com/catalogue/index.html

228 pages • paperback • colour photographs $35.95 RRP

ISBN 0-9582388-4-7

Slice of Heaven is the fascinating story of the Thomas family - Martin, Jenifer and their four young children - who, after the sudden death of Martin's father and brother, decide to leave New Zealand and create a new life for themselves. With little local knowledge, but believing simply that anything is possible, they buy an old schoolhouse in the heart of the Italian countryside and set about transforming it into an enchanting villa. Not content with enjoying the fruits of their efforts, and determined to provide their family with inspiring and positive surroundings, Martin and Jenifer buy a small island in the Caribbean Sea, off the coast of Nicaragua. The island seems idyllic, home only to a rare species of turtle. But as their new dream takes shape they find themselves facing unexpected opponents, and there are times when the task seems too difficult even for them. As the story ends Nature has taken a hand in events. This is an inspiring and entertaining book about turning dreams into reality.

SouperStar Island Advertising Campaign

www.mySoup.com/default.aspx

This is the promotion which is just begun for the prize week promotion for Campbell's Soup in July. (The rate is US$25,000 for the week all-inclusive) and we already have received the 50% deposit. We are agreed to handle this booking personally, regardless of a sale in the interim.

The island advertised in Russia for Rental:

http://festatour.ru/exotic/kariby

Your Private Island TV Show – Featuring the Island

www.fineliving.com/fine/your_private_island/article/0,1663,FINE_1637_3021865,00.html

Lime Cay: Is for sale at $1.2 million USD.

Vincent Cay: (1.5 acres) is the smallest and prettiest of all the cays. Its beautiful natural white sand beach, stretches from one end to another. The many tall majestic coconut palms are a true indication of fresh sweet water. It can adapt perfectly as a personal residential estate.

Crawl Cay: (5.0 acres) is a half moon shaped cay that gives the most beach per coastline acre. A family of about 15 pelicans live in this cay and they welcome every visitor. The island has a nice grassy area at it’s north end that can be used for camping and recreation. The west end has a calm sheltered bay for boat anchorage. Abundant coconut palms delight the senses. Some French people own Crawl Cay.

Babboon Cay: (15.0 acres) is the largest, widest and highest island, ideal for nature lovers. Many papaya and cashew trees grow here. Colorful fish, tide pools, as well as a vast supply of sea shells exists everywhere to be collected. Lush coconut palm trees complete the naturalists’ image of the perfect tropical island. Baboon is owned by a Swiss American who intends to build 4 houses on his 16 acre island, and install a helipad, and rent the houses, as well as visiting himself with his family regularly.

Grape Cay: An American couple own Grape Cay.

Coco Cohiba Cay: To the north is Coco Cohiba Cay Resort. This was a boutique eco-fishing lodge owned by Christian Billard, and served excellent food. The resort was highly acclaimed, in particular with fishermen; but is no longer operating, and the website is down. It may be that the island will go up for sale in a year or two, but right now the owner has pretty much dismantled it and I am not sure what he will do with the island. He is currently involved with a new project in Managua, a restaurant I believe.

“Nicaragua’s “other coast" (the Caribbean) has long been the poor stepchild of this part of the world. Its little Caribbean cays fall south of those of Honduras, Belize & Florida - south, and, to date, off the typical traveler's radar screen. We believe this will change, though. For the past few decades, tourist development in this part of the world has made its way predictably south from Florida's cays. This southward trend will continue, over the coming decade, we predict, to include Nicaragua's outlying Corn Islands.

Every person I spoke with on the ground in Nicaragua agrees that the Atlantic coast is where the next boom will be, they all agree, too, that real development there--and great potential profit--is anywhere from an optimistic eight years to a conservative 15 years away. The low property prices and rising market has made Nicaragua a new hot spot to buy real estate.

That said, it's beautiful territory: tropical, blue-green waters that surround a collection of little islands where there are white sand beaches and tall coconut palms. If you're looking for a fairly long-term investment, this is the place to come. It's arguably the last set of Caribbean islands still "undiscovered" as it were. They are pristine gems, still isolated from the tourist hordes--a limited commodity. And that makes them valuable.

But as I said earlier, if you have some cash to put into a longer-term investment, you should consider the opportunities that present themselves today on Nicaragua's other coast. As Kathleen Peddicord explains in her letter that begins on page 1, on Nicaragua's East coast is where you'll find the next little Caribbean archipelago south of Honduras' Bay Islands. And if history is any indication of future development--and I think it's safe to say it is--this is where the next set of intrepid investors will stake their claim. there is an increasingly powerful drive toward emulating Costa Rica's success in luring both tourism and expatriate dollars to the Nicaraguan economy-by attracting prosperous Westerners and Asians looking for an off-shore tax and retirement haven.” International Living Magazine.

Weather

Whilst these islands enjoy an almost constant cooling breeze, high winds are rare, and hurricanes and tropical storms are naturally attracted to the mainland. There is currently no record of any damage sustained on the cays during “storm force” winds, and the many coconut palms which exceed 25-30m in height support this fact. Many of the palms on the island are in excess of 50 years old.

The Pearl Cays also enjoy a Caribbean microclimate which differs considerably from the mainland. While the Atlantic Coast has a distinct rainy season from mid June to September, the Cays rarely experience more than a single day of rain, and this time of year is generally characterized by occasional showers and thunderstorms, followed by sunshine in the same day.

From around January to March, it rains very rarely, and it is necessary to utilise the irrigation system on the island for the gardens. The rest of the year there are sufficient regular showers, often during the night, to keep the gardens watered.

Humidity increases from June to September, although the prevailing northeasterly breezes make for very pleasant living. Occasionally there is a Northerly breeze, which tends to be cooler. The other breeze which is also rare, is a Southerly, bringing warm, humid weather from the Equator. When there is a breeze, it is usually from the Northeast and tends to moderate the temperature.

Wildlife

The area is favoured as a nesting ground by the “critically endangered” Hawksbill turtle, and during

the breeding season this process is monitored by the World Wildlife Service in the form of daily visits to the beaches in order to monitor the nests.

Nests can number up to one hundred, although all the activity of nesting and hatching takes place during

the night, so it is rare to see either adults or young during the day. A variety of bird-life make their home in the Cays, including a family of Pelicans, who feast on the schools of sardines that inhabit the shallow reef waters. Huge Frigate birds can often be seen soaring high above the island and native doves can be heard cooing in the mangroves.

Other wildlife include Mangrove Crabs and outrageous bright blue Ghost Crabs, which are generally only seen at night. There are no predators on the island and a peaceful equilibrium exists on the Cay. The Reef itself partially surrounds the Cay, and is home to a huge selection of exotic marine species. Large beds of sea grass attract turtles and small fish, while the coral reef teems with life, providing spectacular snorkeling, and legendary fishing.

Supplies

Fresh food and produce can be sourced from Bluefields. Wednesdays are market days and there is a profusion of fresh produce, including tropical fruits, vegetables, local cheeses and other items.

Whilst luxury items are available only in limited supply in Bluefields, nearby Managua has almost everything one could wish for, and once a month or so, Cristian flies to Managua to replenish the supplies of gourmet items such as smoked salmon, French and Italian cheeses, wines and other specialty items. It is quite possible to take the early flight to Managua, and return the same day to the island with the shopping, as Managua is just a short 1-hour flight from Bluefields, and there are several flights each day. One of the benefits of living in one of the largest lagoons in the world is the bounty from the sea, and local

fisherman will often stop by with fresh lobster, prawns and fish to sell or exchange for coconuts, which

they use to prepare local specialties.

Access

Flights are inexpensive for the 1 hour trip from Managua to Bluefields. Around US$100 roundtrip per adult. There are two airlines La Costena, and Atlantic Airlines which each have 4-5 flights a day there and back.

We will shortly be able to offer Helicopter transfers as an alternative to the 90 minute speedboat ride to the island from Bluefields. Presently we are undertaking to install a helipad on the island which should be completed in about 3 weeks time. Our July booking requires Helicopter Transfers.

The Fine Print…

In Nicaragua, since 2001, a Registration Tax of 4% of the purchase price is applied to any sale of real estate, and an annual property tax of 1% of the property value is payable to the regional authorities each year. Any new construction is also subject to a building tax of 1% of the value, and a permit must be obtained from the local municipal council in Pearl Lagoon. The only other closing costs should be attorney’s fees as required.

THE TOWN OF BLUEFIELDS

www.paradisezone.net/english/index.aspx?nicaragua.aspx~mainFrame

The town of Bluefields is colourful, neat and clean.. The weather-boarded houses are built in the English cottage style with two stories and dormer windows. They are painted white with red roofs, and each stands in a small garden enclosed by wooden palings similar to those in any suburb in England. The insularity of the English, their determination to “keep to themselves” and the inviolable maxim that an Englishman’s home is is castle, seem to be perpetuated by the many Bluefieldians today who learned it from their masters nearly three hundred years ago. The streets are wide and straight, the churches, predominantly Protestant, are white and red like those seen in Bavaria and Austria. As the Moravian church, so strongly entrenched on the Atlantic Coast, was founded by the Germans about 1850, this type of ecclesiastical architecture is self-explanatory.

In Jamaica, “Bluefields” is well known as a south coast community whose picturesque white sand beach is hugely popular. Belize, too, has a “Bluefields Cay”. All the Bluefields’ are said to derive their name from the activities of a Dutch pirate named Blaunveldt who roamed the western Caribbean islands and the Central America coast in the early 17th century.

Nicaragua’s Bluefields, founded around 1602, came under British influence in 1633 and remained so until well into the 19th century. As such, it was part of a chain of British outposts on the Central American mainland that stretched from Panama to Honduras. Jamaica, being the nearest British colony on the islands, became a source of political and military authority and of population--Bluefields was administered directly from Jamaica from 1730 to 1744, when it became the capital of the newly formed British territory of Miskotolandia. Not until 1894 did the independent Nicaraguan Republic establish military and political authority over the area, granting Bluefields municipal status in 1903.

For centuries, therefore, free people of African ancestry from Jamaica, Belize and Gran Cayman populated Bluefields, often intermixing with the indigenous Miskitos people. The latter part of the 20th century saw an influx of migrants from Nicaragua’s Pacific Coast. Today, Bluefields’s population of approximately 45,000 is around 57 percent Mestizo and 36 percent Creole (i.e. Afro-Caribbean) with the remaining seven percent being Miskitos and Garifunas.

Bluefields is completely West Indian in appearance and seems to have no connection with Nicaragua. English is more freely spoken than Spanish and, except for a certain lilt in the voice and a few idioms introduced from Jamaica, the English is purer and more pleasing than that heard today in many working class districts in the British Isles. It is not unusual when talking to some of the older people, to hear them refer to the Pacific side of the country as if it were a foreign country.

Bluefields’s culture retains a strongly Caribbean flavour. English is spoken with a distinctive Jamaican lilt and Jamaican patois is widely spoken by many people whose only contact with the island lies in the dim recollections of ancestors handed down from generation to generation. Blufileña cuisine is an often mysterious adaptation of Jamaican dishes to the local environment—“run-dung”, a popular local dish, is cooked with the meat of the wild pig. Anglo-Caribbean names also predominate among the creoles population. Reggae is heard everywhere and dreadlocks are very much in evidence. In the 1980s when Bluefields was made the capital of the Autonomous Atlantic Region of the South, whose Spanish initials —RAAS—have a suspiciously Jamaican ring. Bluefields is a fascinating amalgam of 19th century West Indian and 21st century Central America.

To begin with the setting is one of enchantment, framed as she is on two sides by dense foliage, and on the other two by sea and a silver river. Whether approached by air or water makes no difference, for all is in harmony, a rich enduring colour. With money, enterprise and plenty of imagination the town could rapidly be developed into one of the thriving holiday resorts of the Caribbean. Although dormant, everything is there, for the most exacting tourist. The great bay would be admirable for sailing, particularly for the fourteen-foot sailing dinghy, suitable to racing, and is comparatively safe. For the larger yachts and bolder spirits, there is the rough and tumble of the bay to be faced, the Indian villages and the Pearl Lagoon are to be explored and, well out to sea, the Corn Islands and those of St. Andrew and Providence. For the timid and the lazy there could be leisurely launches in which to invade the many rivers and creeks in cushioned ease.

Lively Bluefields is Nicaragua’s most important Caribbean port (the port itself is actually across the bay in Bluff), but no roads connect it to the rest of the country; the only way to arrive is by boat or plane. Due in part to this isolation, the city is a fascinating urban jumble: the population is primarily Creole and mestizo, but there are also several indigenous groups, including Miskito, Rama, and Garifuna. On the streets you’ll hear English (with a sonorous West Indian lilt, all right), Spanish, Miskito, and other indigenous tongues. Come nightfall, you’ll also hear and see some of the most vibrant nightlife around, and reggae rhythms and Caribbean sounds provide relief from the old Top-40 grind. As interesting as the culture is, Bluefields - which lacks any swimming beaches on its murky waters—offers few tourist attractions and is often used as a launching pad to the Corn Islands or other, more remote points on the Caribbean coast. In case you were wondering, there are no blue fields around these parts; the name comes from Blauvelt, the Dutch pirate who founded the settlement in the 1600s.

If you would like to know about the possibilities around Bluefields we recommend you contact Nydia Taylor from the Casa de Uraccan - Bluefields Bay Guest House and her associate Carol Bidon who owns a small eco-tour farm outside of town (Rio Musilaina Farm). Nydia Taylor: tiairene@ibw.com.ni

CASA DE URACCAN

BLUEFIELDS BAY GUEST HOUSE

(Listed in the Lonely Planet previously as Hotel Tia Irene)

Contact Nydia by email at tiairene@ibw.com.ni

Last October 11, the city of Bluefields on Nicaragua’s Caribbean coast celebrated its centenary. The Government of President Enrique Bolaños turned the occasion into a regional event that celebrated Nicaragua’s Caribbean connections and gave recognition to that country’s its ethnic and cultural diversity. Among the specially invited guests were the Prime Minister of Belize, the Foreign Ministers of Jamaica and the Dominican Republic and the Secretaries General of the ACS and CARICOM. Their presence symbolised the often overlooked linkages of history and culture between the communities of the Caribbean coast of Central America and those of the island Caribbean.

At the centenary, President Bolaños inaugurated construction of a new airport control tower and several telecommunications projects. Hence Nicaragua’s—and Central America’s--Caribbean connections can serve as a vehicle for cementing new economic and cultural ties with the insular Caribbean.

THE SURROUNDING AREA

Laguna de Perlas (Pearl Lagoon) is a small community on the southern edge of a large lagoon 80km north of Bluefields. This massive marine lagoon is over 30 miles long and is ringed by 18 picture-perfect islands dotted with small, isolated Creole, Garifuna and Indian villages. There’s plenty of pure, pearly beauty. The four- to six-hour trip here is an excellent way to get a look at authentic Caribbean coast culture and coastal wildlife. In the village, boatmen can take you to even smaller communities around the lagoon and the 18 pearl cayes off the coast. Basic hospedajes are available in town. Pangas leave Bluefield’s main pier every morning for Laguna de Perlas (7am, 60C).

The Pearl Lagoon Basin is one of nine districts that the South Atlantic Autonomous Region (R.A.A.S) is divided into. It is located in the central part of the Mosquito Coast of Nicaragua, to the North of Bluefields and to the South of the Rio Grande de Matagalpa Basin, exactly between latitudes 12°46'N and 12°08.5'N and longitudes 83°34'W and 83°45.5'W.

The extension of this basin is approximately 4,700 Km², having 625 Km² of lagoon area that includes Pearl Lagoon, Top Lock, Sunnie and Little Sunnie; this extension corresponds to 22.7% of the total area of the basin. Pearl Lagoon is the biggest lagoon on the Atlantic Coast of Nicaragua, having an extension of 542 Km².

Various rivers and creeks empty fresh water in these lagoons and with the action of the tide that brings in salt water from the sea makes an appropriate brackish water system for the development of many species of great economical importance for the villages located on the lagoons shore.

These lagoons are very important for the production of white shrimps, crabs, cockles, and fish and, in certain months of the year, Sea Bob is abundant. Some of the species of fish that are found are Cat Fish, Snook, Copper Mouth, Drummer, Mullet, Jack, Shark, Saw Fish, Stone Bass, Tarpon, Mackerel, Ground croaker, Sheeps Head, Tuba. Two types of crabs, blue crab (Callinectes sapidus) and red crab (Callinectes bocourti) are abundant in these lagoons. This product lately began to be exploited but only one company is been processing.

Tasbapounie

This Creole village is located on the Caribbean coast between Bluefields and Puerto Cabezas. It lies on a strip of land between the beach and the inner shores of a large lagoon 75 miles north of Bluefields. We fell in love with it because of the hospitality of its people. Their preparation of sea turtle, a main staple in the spring and summer months, was both morbid and fascinating. Read "Missing out on the Sea Turtle Feast".

People can visit Tasbapounie by taking a speedboat from Bluefields. The boat only takes four or five hours via interior canals and lagoons. Boats make the trip two or three times a week. There is a modest Hospedaje in Tasbapounie. The family who owns it is very friendly and the food is great (a rarity in La Moskitia). All the villagers, descendents of Jamaican immigrants, speak perfect English, their native Creole patois, and Spanish.

History

Pearl Lagoon town is located on the shore of Pearl Lagoon. The town got its name from this lagoon, meanwhile the lagoon got its name from the Pearl Cays. It can't be determined when this name was given to these Cays, a Spanish official, responsible for the registration of the coast and islands of Central America, mentioned them in 1776.

In the coronation period of the first Miskitu King, Jeremy I, in 1687, the governors of Jamaica having the desire of establishing a better base in support for the Colonial expansion over the Miskito Coast, considered appropriate to create pompous titles or ranks in various places on the Coast, one of these places was Pearl Lagoon.

Orlando Roberts, in 1827, described Pearl Lagoon as the principal colony of the Pearl lagoon Basin. Hedeclared that the people inhabiting this place had similar characteristics as those living in Bluefields, therefore, it could be considered as a British colony. In that time Pearl Lagoon had become a commercial center. Merchants from Jamaica had stores here, and from Pearl Lagoon they used to trade directly to the United States of America. Also it was a center where people from other parts of the zone would bring animal hides, rubber, carey, paddles and canoes to exchange for other articles.

Between 1824 and 1842 King Roberts Charles Fredrick (Miskitu king) resided in this community. Even after the fall of the Miskitu monarchy, the miskitu chiefs preferred Pearl Lagoon as their place for living.

Climate

The climate in this region is tipical of Tropical Rainforest, having temperature between 23 and 28 ºC andhigh precipitation levels between 2,500 and 4,000 mm anual. The hot months begin in February and last up to the 15 of May, meanwhile December and January are the coldest months. June to September are the most rainy months.

Topography

This region is very level. Along the coast we find some swampy land that keep flooded nearly the whole year.

Tropical vegetation

The vegetation is typical of the rain forest, very abundant and varied, and some are from swampy land. On the west there are typical savanna land vegetation, we find scattered pines that represent the south limit of the distribution of the Pinus caribaea var. hondurensis. On the east there are areas that are subject to flooding where we find the palm Raphia taedigera associated with tree species of mangroves, red mangrove Rhizophora mangle, white mangrove Laguncularia racemosa and black mangrove Avicennia germinans.

Socioeconomic characteristics

The Atlantic Coast of Nicaragua is culturally different from the rest of Nicaragua. Various ethnic groups inhabit it The population of this basin is estimated in approximately 8,500 inhabitants, of whom 51% are women. One of the cause of population growth is the immigration of Mestizos from the Pacific, a phenomenon known as the advance of the agricultural frontier. The towns that are close to the lagoon are small and most of them have less than 500 inhabitants; each town is different according to its ethnic and cultural characteristics. The Miskitu indians form the biggest indiginous group on the Atlantic Coast of Nicaragua. In the Pearl Lagoon Basin Haulover, Raitipura, Awas, Kakabila, Set Net Point and Tasbapounie are Miskito towns. Pearl Lagoon, Brown Bank, and Marshall Point are Creole towns. Orinoco, San Vicente, and La Fe has Garifuna origin. Many people in the basin are bilingual. Most of the land in the Pearl Lagoon Basin are communal owned; the families in the towns have the right to use the land so they can cultivate it. In some towns there are individual land titles

Cayos La Perlas

International Herald Tribune

July 31, 2000

To most Nicaraguans the eastern half of the country that faces the Caribbean sea (Atlantic coast) is a mysterious region that might as well exist on another continent. The "Atlantic coast" includes most of the surface of Nicaragua, but only a small fraction of its population. Miskitos, Sumus, and Ramas descended from the Indians who first inhabited these lands, live here mixed with escaped slaves from the British. Caribbean Nicaragua was never a Spanish dominion, except in theory. English traders provided gunpowder and tools to the Miskito, Sumu and Rama and set up trading posts along the lagoons and rivers. Although the British protectorate ended in 1862, English remains the principal language here and the Protestant religion is still dominant.

Bluefields is the major town closest to the cays. It has a population of 40,000 and the cays can be reached from there by speed boat in approximate 1hr and 15 min. Every night is party night during May in Bluefields. The Maypole festival includes costumed dancers, steel drums, loudspeakers. People dance around the maypole tree, a tradition that started in Jamaica. All the energy of Carnival is revived in the islands between the 6-16 of October, and that is also the birthday of Bluefields. Do not forget to try the "Flor de cana" (Flower of the sugar cane) the Nicaraguan rum. It is one of the best and relatively inexpensive (US$ 3-4 for a big bottle). The coconut bread is excellent and you can take it with you to the cays since it stays fresh longer.

Hotel South Atlantic II (the one close to the water) is the best hotel to stay in Bluefields. It has TV, air condition, and also a good restaurant with sea view. Floatante is another good restaurant on the water. It specializes in fresh seafood plus other favorites, with a bar playing music at night.

To get to the cays one can pass through the river that connects the lagoon in Bluefields with Pearl lagoon. This is an enjoyable trip through the river where you can see a variety of tropical trees and birds. Mahogany, mangrove and balsa trees can be seen here. Beautiful rosewood can be found here, that local artists use for wood carvings that portray scenes depicting family life; boats, lobsters fauna and fish. The Pearl lagoon is the second largest in Latin America, and very productive in fauna like shrimps and snook fish.

Pearl Lagoon received its name because when the moon shines, the water looks like it is decorated with thousands of little pearls.

THE HISTORY OF THE AREA

Although Spain laid claim to all of Central America in the 16th century, the absence of precious metals, the lack of a large indigenous work force, and the difficult climate and topography kept the Spanish from maintain a physical presence along the Atlantic coast of the isthmus.

England first gained her foothold in the Caribbean in Jamaica in 1659. After capturing Jamaica from Spain, Britain forcibly moved into the Atlantic coast to challenge Spain's nominal claim. Based at Providence Island (Columbia) and Cape Gracias a Dios (Honduras), the British founded settlements along the coast as far north as Belize, the former British Honduras; including the Corn Islands.

In 1670 Spain and England came to an arrangement, the Treaty of Madrid, a treaty of "Uti Posseditis" (as you possess it) whereby it was agreed…..

“That the most Serene King of Great Britain, his heirs and successors shall hold, keep and enjoy forever, with plenary rights of sovereignty, dominion, possession and propriety, all these lands, regions, islands, colonies and places, whatsoever being situated in the West Indies, or any part of America, which the said King of Great Britain, or his subjects, do at present hold and possess.”

This treaty recognised the Spanish settlements, and in return allowed the English to remain in the areas they had already settled.

The English colonization of the Atlantic coast was primarily done in two ways: With Indians living along the Miskito Coast of Nicaragua and Honduras, the British traded firearms and metal tools for turtle meat, lumber and fish. They formed alliances with the Miskito Indians, using them as guerilla forces to counter Spanish attempts to regain control. In Belize and in the Bay Islands off the coast of Honduras, they cut logwood and mahogany, grew indigo, sugar and bananas. These industries required a large labor force, so the British brought in African slaves captured from the Spanish or purchased in Jamaica. In Belize, slaves accounted for 71% of the population by 1745.

The Caribbean lowlands were never part of the Spanish empire but were, in effect, a British protectorate beginning in the seventeenth century. In the mid-nineteenth century, the United States displaced Britain as the region's protecting power. Not until 1894 did the entire region come under direct Nicaraguan administration. Even then, continuing United States political weight, commercial activity, and missionary interest in the Caribbean lowlands eclipsed the weak influence of western Hispanic Nicaragua until World War II. As a result of this history, costeños have not traditionally regarded themselves as Nicaraguans. Rather, they see Nicaraguan rule as an alien imposition and fondly recall the years of semi-sovereignty and intermittent prosperity they enjoyed under British and American tutelage.

Britain's Miskito Reserve was finally reincorporated into Nicaraguan state by President Zelaya in 1895 and renamed in his honor. Even then, continuing United States political weight, commercial activity, and missionary interest in the Caribbean lowlands eclipsed the weak influence of western Hispanic Nicaragua until World War II.

A conservative revolt led by General Estrada overthrew President Zelaya with U.S. assistance in 1912. The conservatives favoured foreign ties and thus left the Atlantic coast largely in the hands of U.S. business. From 1912 to 1932, the U.S. companies dominated the economic life of the Zelaya through banana exporting, lumbering and mining. This not only created jobs, but most of the coastal population purchased food, clothing and house wares from company commissaries, contributing to the "pro-American" outlook. Although the U.S. companies had exploited the area and reinvested almost nothing to benefit the local economy, many costeños still look back on that period as the "golden years" and view the U.S. as benefactors.

As a result of this history, costeños have not traditionally regarded themselves as Nicaraguans. Rather, they see Nicaraguan rule as an alien imposition and fondly recall the years of semi-sovereignty and intermittent prosperity they enjoyed under British and American tutelage.

The Miskito Kingdom

Most of Nicaragua's Caribbean coast is inhabited by Miskito Indians, descendants of the Caribs who were driven from the Pacific coast by the ancient Nahuas of Pipiles Indians. The Caribs spread our through the dense rain forests which cover much of Nicaragua's Caribbean coastal area settling along the large rivers which run through the area. The Miskitu ethnic group begins with the indigenous Bawihka people of northeastern Nicaragua intermarrying with runaway African slaves from the British Caribbean territories. These people are lumped together with the name “Sumu” which include Ulwa and Twaka languages.

Traditionally the Miskito hunted for Peccary and Waree (types of wild hogs), and deer in the woods and fish, turtle and manatee in the ocean using lances and harpoons. In their gardens they grew plantains, yams, potatoes, Indian peppers and pineapple. The Miskito had an egalitarian society which looked up only to a shaman who performed healings and knew things of the spirit world.

the Miskitu developed a political structure that was heavily influenced by these two peoples .It was a system where the King was the figurehead of the state, but he did not have complete control over the Kingdom. It was broken up between himself, the “Governor,” the “General,” and later, around 1759, the position of “Admiral,” was added to the leadership political structure. It was a system that allowed the Miskitu Kingdom to be able to enjoy stability for almost 240 years and maintain their independence from Spain, the Federation of Central American States, and Nicaragua until 1894. The first kings of the Miskito were semi mythical and it wasn’t until 1687 that the first historical account of a Miskito king, Jeremy I, was recorded. Thanks to English economic interest in the region, Miskito people were able to acquire guns, ammunition, and support from the British Empire that allowed them to secure their independent state.

The Miskito Indians are currently the largest indigenous group in Honduras. After extensive contact with the British, most Miskitos are English-speaking Protestants. Most are either migratory workers, fishermen or agricultural laborers. Unlike many other indigenous groups in the area, the Miskito have remained rural, keeping them from the assimilation which urban life brings. Land rights and the development of social programs are the main issues which the Miskito face today. Today they make a living from fishing, hunting and subsistence farming of rice, beans, corn, yucca, coconuts and medicinal plants. For too long, they practiced the slash-and-burn method of agriculture, a destructive system that forced them to move to a new area every three years.

LA COSTA ATLANTICO – NICARAGUA’S CARIBBEAN COAST

Inaccessible by land, Nicaragua’s Caribbean coast is unlike the rest of the country. The region is part of a geographical area known as la Mosquitia/Miskitia (The Mosquito Coast), a sparsely populated expanse of rainforest, plains, and coastland extending the length of Nicaragua’s east coast and north into Honduras. The Mosquitia is home to some 70,000 Miskitos, the area’s largest remaining group of indigenas. Miskitos still maintain their own language, and are easily identifiable by their unique, almost Asiatic appearance. Other, smaller groups—including the Surnos, Garifunas, and Raxnas—also reside here. In the south, most inhabitants are of African descent and speak a Creole language based on English but influenced by African and indigenous languages. Most Caribbean-coasters identify more strongly with their West Indian heritage or indigenous community than with Nicaragua. Sandinista policies meant to unify and develop the country met with massive resistance and even widespread flight from the region. There is also some tension between native English-speakers and Spanish-speakers.

The Caribbean coast has a great deal to offer travelers. There are a number of relaxing beaches—notably on the inviting Corn Islands off the coast—and remote, colorful Caribbean villages. Travel here is tricky, as there are almost no roads. Unless you’re flying (small planes serve Bluefields, Puerto Cabezas, and the Corn Islands), getting from one place to another involves a great deal of puttering around in small boats, giving you a water’s-level view of the coastal culture.

RAMA

Rama’s fame comes not from its panorama, but rather from its position as the land gateway to the Caribbean coast. The highway heading east from Managua ends here, while boats leave for Bluefields, Nicaragua’s most important Caribbean port. There’s nothing to do in Rama, but you might have to stay the night in order to catch a boat to the coast.

GETTING THERE AND AWAY. Buses stop in Rama’s market, two blocks north of the Parque Parrochial, the parque central. The tall hill with communications towers is always visible to the north. Buses depart for Managua (8-9hr., about every 30mm. 3:3Oam-lOpm, 60C) via Juigaipa (4½hr., 32C). Boats for Bluefields leave from the dock one block west of the market. There’s a 3C fee to get into the dock. Choose between sluggish expreso boats (5hr.; Tu, Th, Sa and Su noon; 43C) and pangas (2hr., daily). Pangas can hold up to 16, and the price is split among the passengers. The only guaranteed departure is at 6am (arrive at least 3Omin. early to buy a ticket and get a seat); at this time, pangas are sure to be full and thus cheaper (120C per person). As the day wears on, the crowd thins and prices rise. An office near the dock sells day-of tickets for expreso boats (open at 8am).

PRACTICAL INFORMATION. Services include: Banco Del Cafó, one block east of the parque; police (e817-0026), one block north and four blocks east of the market; Red Cross (s817-0181), one block north and two blocks east of the market; hospItal (‘~817-0019), 6km north of town on the highway; ENITEL, one block east of the bus stop (p817-0100; open M-Sa 7am-9pm); and the post office, across the street from EN1TEL (open M-F 8am-noon and 2-5pm, Sa 8-ham).

392 •CARIBBEAN COAST

ACCOMMODATIONS. While you’re treading water waiting for your ship to come in, you might as well grab a cama in Rama. The friendly HospedaJe Central, just west of the post office, is near the buses and boats. Spotless rooms with a fan share pit toilets and bucket-style showers. Singles have double beds. (30C per person.) Hotel Johanna, one block east and half a block south of the parque, is farther from the transportation, but the clean, almost institutional rooms have fans, and the showers and bathrooms here are the best of Rama’s lot There’s a cheap cafetin across the street. (30C per person.) HospedaJe Jlménez, on the northwest corner of the town’s main intersection on the same street as the dock, has very similar rooms to the other two, but in a fresher building. The mid-mercado location ensures a sunrise wake-up call. (e817-0156. 30C per person.)

FOOD AND ENTERTAINMENT. Good street comedores are near the market. El Expreso, three blocks east of the market, serves steaks (40C) and 13 shrimp dishes (50-60C each; open daily 9am-h0pm). Locals come to Los Vlndes, haifa block south of the market, for the jukebox, shrimp (50C), and enormous steaks (45C; open daily lOam-midnight). In the evening, the bars in Hotel Johanna and Hotel Manantlal, one block south and one block west of the market are popular.

BLUEFIELDS

Lively Bluefields is Nicaragua’s most important Caribbean port (the port itself is actually across the bay in Bluff), but no roads connect it to the rest of the country; the only way to arrive is by boat or plane. Due in part to this isolation, the city is a fascinating urban jumble: the population is primarily Creole and mestizo, but there are also several indigenous groups, including Miskito, Rama, and Garifuna. On the streets you’ll hear English (with a sonorous West Indian lilt, all right), Spanish, Miskito, and other indigenous tongues. Come nightfall, you’ll also hear and see some of the most vibrant nightlife around, and reggae rhythms and Caribbean sounds provide relief from the old Top-40 grind. As interesting as the culture is, Bluefields—which lacks any swimming beaches on its murky waters—offers few tourist attractions and is often used as a launching pad to the Corn Islands or other, more remote points on the Caribbean coast. In case you were wondering, there are no blue ftelds around these parts; the name comes from Blauvelt, the Dutch pirate who founded the settlement in the 1600s.

ORIENTATION

The murky Caribbean is always to the east. Calle Central runs north to south, curving along the coast. At the north end of this road, just north of the tall, red-roofed Moravian church, is the town’s main pier. Three main streets run east to west. From north to south (starting south of the main pier) they are: Av. Reyes, Av. Cabozas, and Av. Aberdeen. Av. Aberdeen, where you can find a market and the pier for boats to El Bluff, is the only one that extends east past Cake Central. The airstrip is 3km south of town center (taxis make the trip).

Carnival in Bluefields Nicargua is a fascinating mix of ethnic groups who unite once a year in May to celebrate their Carnaval. Every night is party night during May in Bluefields. The Maypole festival includes costumed dancers, steel drums, salsa and reggae music with plenty of loudspeakers. The Maypole tradition is a Spring tradition and its introduction to Bluefields is said to have come from Jamaica and there is considerable Afro-Caribbean influence here including what Bob Marley called "positive vibrations." It is celebrated as a time of love and fertility, with many weddings. It is also a celebration of the reawakening of the world after the cold sleep of winter. Feasts, dancing, drumming and, of course, the maypole

http://www.carnaval.com/sf00/BluefieldsCarnival.htm

GETTING THERE AND AWAY

Boats: Boats to Rama leave from the main pier. Choose between slow expreso boats (Shr.; Tu, Th, Sa and Su 5am; 43C) and the speedier pangas (2hr., 120C). A panga leaves M, W, and F at 5:30am, all other days at 6am; boats leave later, too, if there are enough passengers. Arrive at least 30mm. early to buy a ticket and be prepared to endure some jostling for a seat. For El Bluff (15mm., 15C), take a panga from the dock 3 blocks south of the main pier. The pangas leave intermittently but most frequently (every 20mm.) early in the moming starting at 6am. It’s also possible to hitch a ride on a passing supply boat. There are 3 boats a week to Big Corn Island. From the main pier, Lynx (p822-2925) leaves on W (5hr., 8:30am, 60C) and returns on Th (departs Big Corn 9am) while Promar 45 leaves on Sa (6hr., 9am, 40C) and returns on M (departs 8am). lsleño departs from El Bluff on Su (6hr., lam, 40C), and retums on Tu (departs 8am). None of the ships is a conventional passenger boat; be prepared to claim your grain sack on deck for the trip.

Flights: From the airstrip 3km south of town, La Costeña flies to: Managua (lhr.; M-Sa 7,8, 11am, 4pm, Su 7, 8 am, 4pm; 535C); Corn Islands (20mm.; M-Sa 7am, 3pm; Su 8:40am, 3pm; one-way 420C, round-trip 800C); and Puerto Cabezas (lhr.; M, W, and F 12:40pm; one-way 605C, round-trip 1115).

PRACTICAL INFORMATION

Banks: Banco Caley Dagnall, across from the Moravian church. Open M-F 8:3Oam-4pm, Sa 8:3Oam-noon.

Police: (822-2448), on CaIle Central, 4 blocks south of the Moravian church.

Pharmacy: Godoy Farmacia (e822-2471), on Calle Cabezas, 1 block west of Calle Central. Open M-Sa 7:3Oam-9pm, Su 7:3Oam-2pm.

Red Cross: (822-2582) south of town on CalIe Patterson.

Hospital: (822-2391 or 822-2621), about 2km southwest of town, past the airport.

Telephones: ENITEL (e822-2222), 3 blocks west of Calle Central in the municipal building on Av. Reyes. Telephones open M-F Sam-noon and 1-Spin.

Internet: BICCSA, 2 blocks west of Calle Central on Av. Aberdeen, then half a block north. Only choice in town. A ridiculous 15C for the first 3mm. of Internet access, 2C per mm. thereafter. Offline email 1C per mm. Open M-F Sain-9pm, Sa Sam-6pm.

Post Office: 21/2 blocks west of Calle Central on Calle Aberdeen. Fax service. Open M-F 8am-noon and 1-Spin, Sa Sam-noon.

ACCOMMODATIONS

Find a place to stay in Bluefields quickly. During high tourist tide (Jan.-May), there’s a rush on the town’s already crowded hotels. Try calling ahead.

Hotel Hollywood (822-2067), on Calle Central, half a block south of Av. Aberdeen, overlooking the water. Hooray for Hollywood I Clean and breezy wooden rooms, a veranda, and a good view of the bay. Singles 65C; doubles 100-hOC; with A/C 12OC for 1, 180C for 2.

Hotel Marda Maus (822-2429), half a block east of Calle Central on Av. Aberdeen. This sparkling place has a breezy balcony upstairs. All rooms have fans. Rooms with shared bath 9OC. Rooms with private bath (no sink) and cable TV 125C.

MInI Hotel-Cafetln Central (822-2362), half a block west of Calle Central on Calle Cabezas. Fans, private bath, and TV in homey rooms. Singles 100C; doubles 15OC.

Hospedaje Elizabeth (822-1541), on Calle Central just north of the Moravian church. Rather scruffy, but decent for the price and near the dock. Singles 40C; doubles SOC.

FOOD AND ENTERTAINMENT

Bayview Restaurant offers open-air dining right on the water. Follow Calle Central to the north end of town, where it hits the water (about 4 blocks north of the pier). Then take a right and go 2 blocks east to Hotel Tia Irene; it’s right behind the hotel. Great pancakes (25C), oatmeal with coffee and fruit (20C), shrimp (70C) and fish (50C). Grilled sandwiches (15C) make a cheap lunch option. Open Su-Th 6:3Oam-llpm, F-Sa 6:3Oam-2am. V, MC, AmEx.

Mini-Hotel Cafetin Central (see Accommodations, above) is one of the most popular eateries in town, thanks to frosty beer mugs, wide-screen cable TV, and constant tablewiping. Fish, chicken, and beef dishes 25-35C, milkshakes 15C. Open daily 8am-10pm. V, MC, AmEx.

Restaurants Bella Vista, at the south end of Calle Central (about 6 blocks south of the Moravian church) and a few meters downhill to the left. Tasty lunches and dinners with a great view of the Caribbean. Comida económica 40C. Open daily lOam-midnight.

Cafetin “Pesca-Frita,” in an unmarked building on the southwest comer of the intersection of Calle Central and Av. Aberdeen. Funky Caribbean decor, and an army of fans fighting to keep you cool. Fish is succulent (60C). Ask for the “super-econOmico” full meal (25C). Open M-Sa ham-lam.

At night, Bluefields really hops. The best place for real Caribbean reggae is Cuatro Hermanos, a famous open-air joint right on the water, popular with foreign volunteers. (No cover!) To get there, walk two blocks west of Cake Central, then south to the water. El Eclipse, at the south of town, plays a more varied selection of music in a dance-club setting (cover 25C). The more upscale Bacchus, just south of the parque, plays salsa, merengue, and disco (cover 10C). Bob Vista is the fanciest of the clubs. Its intimate dance floor overiooks the water south of town, at the end of Cake Central.

VILLAGES NEAR BLUEFIELDS

About an hour away from Blueflelds by boat, Rama Cay is a small island community, home to descendants of the Rama Indians. It is said that there are only about a dozen people still alive who speak the Rama language fluently, and these days the community struggles to keep its culture alive. Corrugated metal buildings stand next to traditional bamboo huts, and dugout canoes pull up next to more modem fishing vessels. Though the island sees few visitors, local families are usually willing to host guests for a negotiable price; a working eco-tourism ranch is also moving through the stages of development, so ask around in Bluefields to see if it’s welcoming visitors yet. To get there, you’ll have to hire your own boat; it’s best to recruit a group of people to split the cost (600-700C).

Laguna de Perlas (Pearl Lagoon) is a small community on the southern edge of a large lagoon 80km north of Bluefields. There’s plenty of pure, pearly beauty. The four- to six-hour trip here is an excellent way to get a look at authentic Caribbean coast culture and coastal wildlife. In the village, boatmen can take you to even smaller communities around the lagoon and the 18 pearl cayes off the coast. Basic hospedajes are available in town. Pangas leave Bluefield’s main pier every morning for Laguna de Perlas (7am, 60C).

Hotelito Casa Blanca

http://bluefieldspulse.com/hotelitocasablanca.htm

"Hotelito Casa Blanca is located in Pearl Lagoon on the Caribbean coast of Nicaragua. A paradise still undiscovered and waiting for you. Casa Blanca is own and operated by Mr. Svend Friberg and Ms.Dell Lopez. Pearl Lagoon is 1 hour away by rivercraft (speed boat) North of Bluefields. Speed boat is the only means of transportation to get to Pearl Lagoon. To get to Bluefields one must either take a 45 minute flight from Managua or a 4 hour bus ride enjoying the country side of the Pacific and a 2 hour speed boat ride down the beautiful Escondido river. Hotelito Casa Blanca has it's own speed boat tours of the Pearl Keys and will pick you up in El Rama and take you directly to Pearl Lagoon. By request the owners of Casa Blanca arrange individual and family tours by boat or horse. For instance, to go fishing, swimming or diving by the Pearl Keys or trips to the small villages in the Lagoon area. On the weekends Pearl Lagoon is a lively town with clubs and restaurants.

Room rates at hotelito are:

$10.00 For single bed room

$20.00 for double bed room

For more information or Reservation call: 505-822-2355, 2428, or 2762 or you may write to:

Casa Blanca Hotelito and Restaurant

Apartado Postal 85

Bluefields, Nicaragua.

Cayos de Perlas (Pearl Islands)

Just 17.5 miles from Corn Island are the Pearl Keys. They are practically unexplored and their clear waters are ideal for fishing and diving. This massive marine lagoon is over 30 miles long and is ringed by 18 picture-perfect islands dotted with small, isolated Creole, Garifuna and Indian villages. This is one of the best places to see authentic Atlantic Coast culture.

THE CORN ISLANDS

The Corn Islands, around 70km off the coast from Bluefields, offer sparsely populated white sand beaches, warm turquoise water, and a uniquely untouristed Caribbean atmosphere. Most visitors stay on Big Corn Island (pop. 6000), with a small but reasonable selection of hotels and restaurants. Even here there are no resorts and no dive shops, and splendid Little Corn Island (pop. 500), 18km away, feels even more untrammeled. The islands, which are populated by English speakers of British West Indian descent, have excellent fishing and colorful coral reefs, but most of all they simply offer the chance to curl your toes in pure Caribbean sands and do absolutely nothing.

BIG CORN ISLAND

ORIENTATION. Big Corn Island is approximately 6 sq. km. The island’s main road runs all the way around its coast, and a few dead-end drives branch off either inland or out to the ocean. The airstrip runs southwest to northeast, marking off Briggs Bay and the western quarter of the island, where most of the businesses and hotels are. In the eastern part of the island are the hamlets of North End and South End, with Sally Peachie, a beach, in between. Boats drop off at the Main Pier in Briggs Bay, about five blocks from the airstrip, while planes drop off at the southern end of the airstrip.

GETTING THERE AND AWAY. Boats head to Blueflelds (5-6hr.; M-Th 8am, Th 9am; 40-60C). For more information, see GettIng There and Away under Blueflelds, p.392. Pangas to LittIe Corn Island leave from the Briggs Bay dock daily (9am and 4pm, return 6:30am and 2pm; 50C). La Costefla (office on the airstrip open daily7am-noon and 1-4:3Opm) has flights daily to Managua (3:35pm, also Su 8am; 531C) and on weekdays to Bluefields (8:15am, 345pm; one-way 335C, round-trip 632C). It’s best to purchase tickets at least a day in advance and pay in cash.

PRACTICAL INFORMATION. Two buses circle the island all day - the blue one travels counterclockwise, the yellow school bus clockwise (fare 3C). Jeep taxIs charge a flat 10C fare. Local services include: traveler’s check exchange at Banco Caley Dagnall, at the south end of the airstrip just up from the pier (open MF 8am-11am and 1-4:30pm, Sa 8-11:30am); police (w285-52O1), two blocks north of the road from Fisher’s Cave Restaurant; a pharmacy on the road west from the airport to Briggs Bay (open daily 6am-Opm) and another that can be opened 24 hours for emergencies in the hospital (.285-5236), 1km down the road leading east across the airstrip; ENITEL, three blocks north of the Fisher’s Cave restaurant on the main road (open M-Sa 8am-noon and 1-Spin, Su Sam-noon); and the post office is in a woman’s house about 200m from ENITEL

ACCOMMODATIONS. Budget digs on Big Corn are fairly rustic. Thanks to its seaside location, the best bet is Case Blanca, on the beach south of Briggs Bay, 100m or so down the left branch of the road leading west from the airport. Small and homey rooms have fans. Showers are nice, but toilets are primitive. (Rooms 120C.) The cheapest place is Hospedaje Marisol, near the police station at the north end of Briggs Bay. Acceptable rooms are all doubles with thin beds. Outside baths aren’t exactly wonderful, but can be tolerable. The restaurant out front is open daily 6am to 9pm. (50C per person.) Guest House Rupple, on the road west from the airport, features largish, newish rooms with a common bathroom. The main drawback is Morgan’s, the disco next door, which blares music until the wee hours; try to get a room on the opposite side of the building. (Singles 70C; doubles 120C.)

More comfort requires a big step up in price. Hotel Paraiso Club, just past Casa Blanca, has large, well-appointed rooms with big, soft beds, private baths, and private porches with hammocks. (.285-5111. Singles US$30; doubles US$40.)

FOOD. Impatient sorts beware: Big Corn’s “relax, take it easy” attitude definitely applies to its very leisurely restaurant service. Hotel Paraiso Club (see above) has one of the nicest restaurants in town, set on a thatched-hut patio with soft background music. (Flapjacks 3OC, dinner entrees 7O-100C. Open daily 7am-10pm.) Fisher’s Cave Restaurant, a 10-sided concrete building, sits at the foot of the pier, overlooking Briggs Bay. The outdoor seating area affords fabulous sunset views, though it might be sunrise by the time your food arrives. (Fish 50C, lobster 75C.) About 50m south is Brisas del Mar, a pleasant little joint offering freshly caught seafood at cut-rate prices (fish dinner 40C, lobster and shrimp 60C), as well as a solid breakfast of gallo pinto and eggs for 30C. (Open daily 7am-l0pm.)

BEACHES AND OUTDOOR ACTIVITIES. A worthwhile stroll around the road that circles the island takes about three hours; you can always catch a bus if you get tired. The Picnic Center, east of the south end of the airstrip, is a nice place for a...well, you know. It also happens to be the most tranquil beach on the island. Long Bay, just south of South End, is a sweeping crescent of white sand, turquoise water, and coconut palms perfect for sunbathing and relaxing—water currents, however, make the swimming less than ideal. Hotel Paraiso Club (see above) rents bicycles (US$10 per day) and horses (US$10 per day). Both are good for touring the main road. They also rent snorkeling gear (US$7 per day). The best place to snorkel on the big island is Sally Peachie beach, on the east side of the island. Here you can swim among schools of iridescent fish and drift over reefs teeming with life. On the west side are many sunken boats—most still protruding from shallow water—ripe for exploring.

LITTLE CORN ISLAND

Little Corn Island is an unexpected gem. On La Isleta, as Spanish-speakers refer to it, footpaths wind through lush palm forests to reach uninhabited beaches, splendid coral reefs sit just offshore, and a small, close-knit community welcomes visitors. The swimming and snorkelling are great on the far side of the island, and a shipwrecked fishing boat, just visible above the surface of the reef, makes for good exploring. The lighthouse on the island’s highest point is climbable and yields a sweeping vista. Sportfishing is excellent; snag some giant barracuda and get a free dinner. With some asking around, you may be able to tag along with a local fisherman for free or a for a gas contribution.

Two daily pangas run from Big Corn (9am and 4pm, return 6:30am and 2pm; 50C.), 18km away. Reason enough to come is the outstanding Casa Iguana, up a 1km-trail from the panga drop-off. This is idyllic ecotourism at its pinnacle; the American owners grow or catch most of their own food, generate their own electricity with sun and wind, and collect rainwater to drink and use. Nearby, a sweeping, white-sand lagoon offers great snorkeling and swimming, and the hotel can arrange for fishing and picnic excursions. This is a great place to meet fellow travelers, with its family-style meals and a guest lodge stocked with books and CDs. The secret is out; during high season (Dec.-Mar.), Casa Iguana can book solid up to six months in advance, but it’s often possible to walk up in other months. (Email casaiguana@mindspring.com; www.casaiguana.net. Basic cabanas: singles US$14; doubles US$17. Well-furnished casitas US$40.) If Casa Iguana is booked or out of your price range, Bridgette, in the small village, offers somewhat beat-up rooms with outdoor bathroom facilities for 6OC. Denny, on the other side of the island, rents a canvas tent (US$3-5). Several other rooming possibilities, perhaps in the 100C to 300C range, may open soon; ask around.

A few comedores in the village will serve lunch and dinner with a few hours’ advance notice. The Mini-Commercial Center stocks snacks, sandwich supplies, and cereal. The Happy Hut is the island’s social magnet on weekends.

NORTHEAST NICARAGUA

Most of northeast Nicaragua is part of the northern Atlantic Coast autonomous region (RAAN), one of the least developed areas in Central America It’s a difficult region to travel in, and few bother to make the effort. The large coastal Miskito village of Puerto Cabezas is the capital, but offers little of interest to the traveler. Significantly inland, the one-time gold-mining settlement of Siuna is notable for the vast tracks of virgin rainforest that thrive nearby in the Bosawas Reserve. However, the present safety situation will make most think twice about a visit.

SIUNA

The frontier outpost of Siuna sprung up almost overnight when yellow flecks were found in the creeks nearby, and its identity as a gold rush town is unmistakable. The real reason to come all the way here is for the virgin rainforest that begins near town. Newly environmentally conscious locals proudly call their forest, the largest swath of unbroken rainforest north of the Amazon, the “lungs of Central America” A serious visit will take “roughing it” to a whole new level, but the plants and animals that await are astounding. Locals would like to encourage tourism in the forest, but sadly, ongoing safety problems in the area hinder their efforts.

NEAR SIUNA .397

ORIENTATION. It’s hard to make sense of Siuna’s tangled web of dirt tracks.The main road begins at the end of the airstrip and leads to the market area, from which buses depart. A small road branches left up the hill and leads to the clinic, ENITEL, and a small parque; a third road intersects the main road beyond the mine ruins and contains much of the town’s commercial activity.

GETTING THERE AND AWAY. A Siuna-bound bus leaves Managua’s Mayoreo market daily at Sam and makes a bone-jarring nine-hour trip through the forest (80C). Reserve a seat the night before. Buses return to Managua daily (about 6pm). La Costena has a daily flight that leaves Managua at 9am, and then heads back from Siuna at 10:15am (500C one-way, 850C round-trip). They also fly to Puerto Cabezas (11:30am; 455C one-way, 800C round-trip). A small ticket office is on the airstrip.

PRACTICAL INFORMATION. The town’s bank does not offer currency exchange; bring extra cordobas. Clinica de Ia Mujer, on top of the hill, provides basic community health services to both men and women, and has a small pharmacy. (Open M-F 8am-Spm, Sa 8am-noon; will open for emergencies.) ENITEL is across the street. (.273-2005; fax 273-2101. Open M-F 8am-noon and 1:30-S:3Opm.) To reach anyone in town, it’s best to call ENITEL and ask to be connected. The post office is on the right side of the main road, just before the mine; look hard for the obscure sign. The postmaster runs the pulperia next door and will handle mail there. He’s usually around from about 8am to 8pm.

ACCOMMODATIONS AND FOOD. The town lacks running water. The highest-quality rooms and food are at El Desnuque, along the airstrip. Rooms are large and breezy, with (bucket-flush) private baths. (Rooms with breakfast 100C.) The restaurant’s country cooking is delicious and filling (venison 30C). Or try the small, tidy rooms of Hospedaje Siu (singles 75C; doubles 120C) or the cheap Hospedaje El Costelio, rather rough around the edges (singles 40C; doubles 60C).

NEAR SIUNA

BOSAWAS RESERVE

The settlement of El Hormiguero, an hour by van from Siuna, is at the center of the Bosawas project. A van driven by Pilo Padilla rolls out of Siuna at around 5am; ask any local to put you in contact with him the night before, and he can swing by your hospedaje bright and early. Other vans, less suitable for visiting the reserve, leave the market at about 1,2:30, and 5pm. All rides cost 17C.

Once in El Hormiguero, let the locals know you’re there for the ecoturismo. They’ll direct you to the head of the project, Fermin Estrada, or to one of his associates. Guides cost about 100C per day, and will fix meals for another SOC to 60C per person, per day. An extra 40C per person, per day will cover a horseback excursion. A strenuous one-day hike into the park is feasible if you take the early van. Families in El Hormiguero also welcome visitors into their homes (3O-4OC per person, per night). However, most visitors will want to make the four- to five-hour trek to the ecotourism camp, where covered hammocks and a latrine are surrounded by untouched forest. Trails from here delve farther into the wilderness: Cerro la Pimienta leads through some of the area’s oldest, most developed forest while reaching Mount Saslaya, the tallest point in the region, takes an extremely strenuous three- to four-day climb. While guides prepare meals, visitors should come stocked with a water filter, first aid kit, and lots of bug spray. A visit here is best done in the dry season. Returning to Siuna, vans leave at roughly 8am, 3, and 5pm.

PUERTO CABEZAS

Far from Managua, in the country’s northeastern corner, Puerto Cabezas is visited more often by volunteers and businesspeople than tourists; it takes some effort to get to, and there’s not too much to see once here. Its Caribbean beaches are upstaged by those of the Corn Islands, and its rather flat, scrubby inland landscape can’t compare to the dramatic scenery in other parts of Nicaragua. Still, as the largest city in the entire Mosquita, one might stay here for practical reasons. The nearest beach is a few kilometers north along the coast, near the airport; a taxi to either spot shouldn’t be more than 1SC. It’s possible to hire a boat at the dock to take go to one of the dozens of tiny, uninhabited Cayos Miskitos; the price for this three-hour tour is a bit steep, between US$30 and US$50 for the boat.

The best bet for lodging is Hospedaje El Viajero (.282-2237), on the main street. The friendly, English-speaking owners offer two types of rooms: the luxurious variety, with private bath, cable TV, fridge, A/C, and fan (170C); and the simple variety, with a fan and shared bath (85C). Hotel Perez (.282-2362), a bit north on the main street, has spacious rooms with carpet and shared bath (120C), or private bath (180C). There is a bank, post office, hospital, and ENITEL office in town.

La Costena flies into the airport a few kilometers north of town. Flights leave Managua daily at 7, 10:30am, and 4pm, taking two hours and returning immediately (one-way 630C, round-trip 1120C). Daily flights also come from Bluefields (9am; lhr., returning immediately; one way 605C, round trip 1115C). Buses leave Puerto Cabezas and Managua’s Mercado Mayoreo simultaneously (2lhr., 8am, 180C). Fishing and cargo boats sometimes run to and from Bluefields and Trujillo, Honduras.

NICARAGUAN INVESTMENT INFORMATION

Nicaragua is undergoing a breathtaking metamorphosis. Nicaragua's GDP grew 4.7% in 1996, with inflation at 11% in 1996. (GDP per capita, however, is still at US$466.) Nicaragua's government is in the process of making the country attractive to foreign investors, relaxing import/export tariffs, as is the rest of Central America, promoting a pro-business atmosphere. Nicaragua has a thriving economy supported by liberal economic policies and sound financial, fiscal and exchange rate management. A recent CIA report ranks Nicaragua as the fastest growing economy in Central America. Their rebuilding and rebounding economy has created a large array of investment and business opportunities that will be enhanced with the development of incentive programs for investors.

Nicaragua’s “other coast" (the Caribbean) has long been the poor stepchild of this part of the world. Its little Caribbean cays fall south of those of Honduras, Belize & Florida - south, and, to date, off the typical traveler's radar screen. We believe this will change, though. For the past few decades, tourist development in this part of the world has made its way predictably south from Florida's cays. This southward trend will continue, over the coming decade, we predict, to include Nicaragua's outlying Corn Islands.

Calling Robinson Crusoes

In fact, the strongest impulse toward the realization of this might come out of Costa Rica itself: Rising real estate prices and import tariffs are beginning to erode some of the allure Costa Rica's had on Western expats. Taipan predicts that the greatest speculative gains will be made at tourism hot spots along Nicaragua's borders with Costa Rica and Honduras.

They will buy cheap land on which to build hotels, open dive shops, run open-air restaurants that serve locally caught lobster and fresh fish. They will subdivide the large tracts of land they buy at bargain prices today and sell it years from now to individuals who will pay a premium for a half-acre lot on some of the last untouched islands in the Caribbean. You could be one of those to get in early and, some years from now, turn a profit. But be prepared for an adventure. Because right now...there's virtually nothing there.

"Nicaragua's Atlantic coast is like Honduras was 20 years ago," says Steve Snider, a realtor who has been living in Nicaragua for many years and until now has concentrated his efforts on the Pacific Coast. "There are no roads, and so you must go everywhere by plane or boat. The planes are little. And the boats are the same ones that transport cargo. It's not unusual to sit on crates of tomatoes en route from one island to another.

This region offers a number of distinct possibilities for the development of tourism enterprises based on the natural and renewable resources which exist there. These particular resources or natural attraction features include a number of rivers and tributaries which have access to jungle forests which have a rich diversity of flora and fauna in a number of primitive areas. Such primitive areas lend themselves to tourism programs for persons who have an interest in Eco-tourism, adventure tours, nature study and bird watching activities, etc. The rivers and natural lagoons and many connecting waterways throughout the region allow boat travel for tourist groups to see these natural wonders which are a growing focus of interest in recent years. Close by to such natural attractions there are a number of picturesque sites on lagoon beaches or on the actual ocean front where tourist lodges or hotels can be built to accommodate such tourists.

Other natural attractions which are close to many such potential sites for tourist lodges or hotels are a number of reef areas with small keys (islets) where SCUBA diving and snorkeling or exploration by small tour boats can be conducted for tourist groups. Also beach exploration along the extensive, undeveloped, natural beaches of the region offers a welcome opportunity for tourists to see this unique setting of primitive coastline as compared with the heavily developed beaches throughout the world today. These are among the natural features or attractions which are the basis for successful tourism activities and the development of the infrastructure appropriate to this important segment of the tourism market.

The features and points of tourism attraction for potential development are found along the entire East coast of the country from the North border of the country with Honduras and the Southern border with the country of Costa Rica. Many locations along this coastline offer excellent sport fishing for such popular game fish species as Tarpon and Snook. These species are found in the many coastal lagoons and waterways which connect with the sea and the interconnecting waterways between such lagoons, as well as, in the rivers which feed into these lagoons from the inland watersheds. In the case of the San Juan River, which drains huge Lake Nicaragua, these important game fish migrate from the sea up the river and are also found in the lake after travelling several hundred miles from the Caribbean. Fishing for these species can be done in both the river and the lake over many months of the year. Tarpon and snook are game fish which are very popular with millions of sport fishermen many of whom travel from hundreds to thousands of miles outside of the USA to go fishing in foreign countries.

Gilligan's Island

Private islands are up for grabs for a very low price. With a choice of over 360 Nicaraguan islands, be as choosy as you like. Some islands come with their own docks and boats included in the purchase price! Others have homes already established waiting for you to move in, starting at US$30,000.

The demand is small enough that you'll have the upper hand when negotiating property. Foreign investment in Nicaragua has more than doubled since 1994. Speculators, investors and developers can make staggering fortunes here, and word is getting out.

INVESTMENT CLIMATE – US Govt. Report

Openness to foreign investment: Since 1991, Nicaragua has made significant progress in opening to foreign investment. President Arnoldo Aleman, who took office in January 1997, has shown a personal interest in welcoming new foreign investment and the Government has a decidedly pro-foreign investment attitude.

The Foreign Investment Law guarantees foreign investors the right to remit 100 percent of profits through the official exchange market and, 3 years after the initial investment, repatriation of original capital. The law also allows 100 percent foreign ownership in all sectors of the economy. To enjoy those guarantees, investments must be approved by the Foreign Investment Committee of the Ministry of Economy and Development. However, most foreign investors do not seek Ministry approval because the banks freely repatriate profits. Recently, Ministry approvals have taken over a year. The embassy knows of no instances in which profit repatriation has been a problem. Foreign investors receive national treatment with respect to export/import policies. There are no onerous visa, residence, or work permit requirements which inhibit foreign investment.

RIGHT TO PRIVATE OWNERSHIP AND ESTABLISHMENT

Both foreign and domestic private entities may establish and own business enterprises and profit-making activities. Local law grants the right to freely establish, acquire, and dispose of virtually any type of business interest or property, with the exception of those sectors where government monopoly is established by law. The Embassy is aware of no instances where private enterprises were not treated on an equal footing with public enterprises with respect to access to markets, credit, and other business operations.

Political violence

Political violence in Nicaragua has decreased sharply in recent years. We are aware of no recent instances of political violence directly targeted at foreign business operations.

TAX CONCESSIONS FOR INVESTMENT

Law 306 makes Nicaragua the best place in Latin America to open a hotel, restaurant, or other business

By Jennifer Stevens

http://www.internationalliving.com/localnicaragua/nic_archive_js306.html

Just six moths ago, Nicaragua enacted the most attractive—and most aggressive—tourism-incentive law in Latin America. If you’ve ever toyed with the idea of owning your own B&B…running a sailboat charter…leading adventure treks into the jungle…dishing up meals in your own restaurant…or operating any tourist-related business…Nicaragua might be the place to do it...and now might be the time.

Law 306 lets you:

Pay no income taxes for up to 10 years.

Pay no real-estate taxes for up to 10 years.

Bring in (or buy locally) all the supplies you need, from furniture and boats to linens and cash registers…tax free.

Not only that, but the application and approval process is straightforward and fast. INTUR, Nicaragua’s Institute of Tourism, has done an outstanding job of cutting through the usual red tape. The law allows the agency just 60 days to approve your application. What’s more, depending on the type of project, an investment of only $30,000 can qualify you for the benefits.

The program is already working. Now is a smart time to invest in Nicaragua. The country boasts one of the fastest real-GDP growth rates in Central America, and it shows. All over the country you’ll see evidence of progress—new shopping malls in Managua (complete with Liz Claiborne shops), new restaurants in San Juan del Sur, a spruced-up market in Massaya, and not a block in Granada without at least one building under renovation. Cruise ships have been landing since January, and about 500 cruise visitors a month are exploring the southern Pacific region.

In all, close to 443,000 tourists visited Nicaragua last year, and that number is expected to increase by over 10 percent in 2000. The only thing holding Nicaragua’s fledgling tourism industry back is a lack of infrastructure. And that’s just the problem this new tourism-incentive law was designed to remedy.

It’s starting to work. Martha Luz G. de Barrios, an investment specialist at INTUR, said that her agency has already approved close to $40 million worth of projects—mostly large hotels. Holiday Inn and Hampton Inn are opening this year. But there is plenty to entice the smaller investor.

Investment For nearly any product you can think of, there is a market in Nicaragua. Today, as thousands of Nicaraguans who fled the Sandinistas during the revolution return to their native country, they bring with them sophisticated tastes and an appetite for the kinds of goods and services they grew accustomed to while in exile in the United States and in Canada. Their return has proved to be an incredibly stabilizing force in this country--both economically and politically. After all, these were the attorneys, the doctors, the better-educated in the society who fled.

And now, you see, these people understand how a free-market economy works. They understand democracy. They speak English. And...perhaps most critically, they form a true middle class with expendable income to buy the goods and services to which they'd become accustomed in North America. That spells opportunity for you.

Nicaragua has one of the fastest real-GDP growth rates in Central America. The country has complied (unlike many other nations) with prescribed IMF demands for cutting its deficit, implementing structural reforms, and maintaining overall monetary stability.

Nicaragua is set to benefit from rapid and sustained economic growth in the years to come, growth it has encouraged with the passage of several laws specifically designed to attract and protect foreign investors. According to the Economic and Commercial Section at the U.S. Embassy in Nicaragua, 'the in-flow of foreign direct investment has almost doubled [for the most recently-available figures]--from US$97 million in 1996 to US$184 in 1998.' About one-third of that investment comes from the United States...investment primarily in agriculture, construction, services, industry, mining, energy, tourism, and aquaculture.

Investing with very few restrictions

In the last decade, Nicaragua has privatized nearly all its old state-owned monopolies, save for the public utilities, and has thus dramatically reduced the amount of government red tape investors have to contend with when they do business here. In addition, it has opened up all sorts of new markets.

A foreign investment law ensures you can repatriate 100% of your profits and, after three years, the initial investment as well. (Even if you don't 'register' your investment, banks will freely repatriate profits.)

You'll find no legal grounds for discrimination against you when you invest. The law allows for 100% foreign ownership in every economic sector. And there are no restrictive visa or work-permit requirements to inhibit investment.

Run your tourist business tax-free for up to 10 years

Nicaragua's Law 306 (enacted in September 1999) is the most attractive--and most aggressive--tourism-incentive law in Latin America. If you've ever thought about opening your own B&B, running your own tour business, or having a little arts and crafts shop...Nicaragua is the place to do it.

This law is sweeping in scope and offers hard-to-beat benefits for investors who take advantage of the program. If your business qualifies, you pay no income taxes for up to 10 years, pay no real estate taxes for up to 10 years, and bring in (or buy locally) all the supplies you need, from furniture and boats to linens and cash registers...tax-free.

Not only that, but the application and approval process is straightforward and fast. INTUR, Nicaragua's Institute of Tourism, has done an outstanding job of cutting through the usual red tape and outlining very clearly what you need to do. In addition, the law allows the agency just 60 days to approve your application so you won't find yourself in limbo for months or even years on end. What's more, depending on the type of project, an investment of only $30,000 can qualify you for benefits.

A straightforward law

Nicaragua is slowly being discovered. And an improved tourism infrastructure can only speed the process. Law 306 is a well-crafted document that gives you an incentive--and makes it easy for you--to help jump-start the industry...and make a profit while you're at it. Several "tourist activities" fall under the law's umbrella, and with an investment in any one of them you benefit through tremendous tax savings.

www.paradisezone.net/english/index.aspx?nicaragua.aspx~mainFrame

www.internationalliving.com/nicaragua/show_article.cfm?id=3336

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www.agora-inc.com/reports/nkit/homepage/

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http://meltingpot.fortunecity.com/wyoming/818/pearlcay.html

http://lcweb2.loc.gov/cgi-bin/query/r?frd/cstdy:@field(DOCID+ni0041

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