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Moving the Nicaragua?, no not me.

I cannot help but be deluged with information from International Living, Live and Invest Overseas and others about where people should retire. I always urge people to think several times about moving out of their home country. Many people think it’s a piece of cake, after all International Living says so.

International Living and others now are pushing Nicaragua, home of the hemispheres next Hugo Chavez, the elected Daniel Ortega, to contrast from the very same Daniel Ortega who was leader under the Sandinistas.

Now comes word that an action akin to things Hugo Chavez started in Venezuela has occurred in Nicaragua.  The government has confiscated a resort property from Swiss investors and turned it over to another person.

 “Representatives of the Attorney General with the Police and members of Ineter went to the resort on Tuesday without any court order to seize a tourist property.

The land conflict in Punta Teonoste hotel, located in Tola, Rivas, is causing uncertainty in the country, said President of the Superior Council of Private Enterprise, COSEP, Joseph Adam Aguerri, who yesterday announced that next Wednesday will move to this place for meetings and tourism identifying specific actions to support the business owners who are threatened with being stripped of their investment.

Aguerri complained that government officials have come to this resort using the security forces.

The representative of the Attorney General’s Office, PGR, Zaida Magana, accompanied by police and members of the Institute of Territorial Studies, Ineter was presented to the resort on Tuesday without any court order or police to seize property.

The president of COSEP, this is not the most appropriate mechanism to enforce the law.

“The private sector will take that back. The losers are the ones who represent investors or the private sector, we are all Nicaraguans in the country, is the government, the image is the use, is the attraction of investment, and that is something that we will protect “said Aguerri.

Walter Bühler, the majority partner of the investment through a public letter to President Daniel Ortega, in making his complaint, said that the occupation of these lands by the Attorney General’s Office, PGR, provides a bad image for the government.”

http://www.elnuevodiario.com.ni/nacionales/241945

If you are considering buying into a nice beach resort in Nicaragua, you might want to save your money. It appears the Swiss investors in this project might have lost it all, if not they will have an expensive legal battle in corrupt courts to get something back.

 

 


Comments

  1. Susan Guberman-Garcia says:

    I agree, and would not want to invest in Nicaragua. However, the very same thing happens in Panama, to all kinds of people: indigenous people, non indigenous Panamanians, and foreign property owners. All it takes is someone with the right “connections” ($$$$$$) and you too may find goon squads and cops on your land, tearing down your your home and your business or even burning it to the ground. Don’t believe me? See: http://www.panama-guide.com/article.php/20110903162043502?query=See+what+the+bastards+burned+down
    The Panama hype sites don’t tell you about that.

  2. Bjorn Sefeldt says:

    well, it happens lots of places, can you say “eminent domain”? a very misused law in the US, but not much talked abut……

    I totally agree with lee, check things out , quite a bit befiore you move….
    I`m going to visit Boquete for my third time soon, still checking things out…
    when I moved to Texas from Sweden, I came here for 6 months in 1968, then returned to Sweden for a year , moved here in 1969…..after 6 yrs decided to love back as I “missed a few things”, only to realize Swedden had changed in those 6 yrs…probably so had I , we had both changed , but in different directions…lasted 18 months…since then lived in Texas….so, I have no “dreams” of finding paradise…anywhere.

  3. Susan Guberman-Garcia says:

    No, not eminent domain. While first world countries can certainly abuse eminent domain, it is very different. With eminent domain, your property is condemned and the government is required to compensate you for its loss at its market value. Here in Panama (and in Nicaragua), what happens is this: Somebody who has bribed a corrupt official (or is a member of or connected to somebody powerful) shows up with a goon squad and you are ordered out of your home and sometimes, as happened in Bocas, your property is burned to the ground. Big difference. f

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