Investing in Nicaragua | GCE SAENICSA

Investing in Nicaragua Nicaragua is located in the heart of Central America and has stood out in recent years for consistent economic growth, strategic location and for being one of the safest countries in the region. Today there exist many opportunities for investors that establish a business in Nicaragua. With a low barrier of entry, even compared with other countries in the region, the process for incorporating a company in Nicaragua is fast and easy from start to finish. This means that within a short amount of time an investor would be able to set up a company and begin investing in a country that has a rapidly growing middle class, a robust tourism industry and a national strategy geared towards growth. Also, the government has implemented in the interest of making Nicaragua a competitive option for any investor important incentives that have been pivotal in the exponential growth of import/export industries, manufacturing, forestry and even agricultural sectors. Incorporating The best way to set up a business in Nicaragua is through a corporation. The best and most used corporate entity is the Sociedad Anónima or what could also simply be referred to as a stock corporation. It is important to note that at the moment a Sociedad Anónima or stock corporation is currently the only option available for foreign investors to invest in the country since other regiments require the individual to have either citizenship or permanent residency in Nicaragua. Other than the aforementioned, the rest of the process for incorporating is straight forward and the requirements are minimal. Additionally, there is no requirement that requires foreign investors to include a Nicaraguan resident or citizen to be part of the corporation. Some of the benefits of the Sociedad Anónima are as follows: • Anonymity of the shareholders. • The entity is considered a Nicaraguan person and it may be used to petition residency for any of its shareholders that are foreigners. • As a Nicaraguan person the entity is protected by Nicaraguan legislation. • Unlike the Limited Liability Company, the Sociedad Anónima may continue as long as there are at least 2 shareholders and a Nicaraguan or permanent resident as Legal Representative. Legal Representation Since the corporation is a separate legal entity distinct from its shareholders it is required that the shareholders that form the corporation appoint a legal representative to act on behalf of the entity. The legal representative has to be a Nicaraguan Resident or Citizen and have a domicile in the country. It is important and recommended that the shareholders designate someone of their trust to assume representation. Additionally, even though the legal representative generally speaking has considerable powers or representation, these can also be limited as the Board of Directors deem reasonable. Frequently Asked Questions How long does the process take?  The process to incorporate in Nicaragua, once after having finalized and signed the Articles of Incorporation and Bylaws usually takes from 4 to 6 weeks. After this process you may begin realizing all the different activities for which you established the company for, and you may also begin applying for the different incentives that are applicable to your company. Do I have to be in the country?  It isn’t necessary for the founding shareholders to physically be present within the country for the signing of the articles of incorporation or the appointment of the legal representative. The business can be incorporated in Nicaragua wherever the shareholders are throughout the world. Email us for more information on this process: info@saenicsa.com. Dirección: Plaza San Mateo Mod.# 5A, Enfrente del Enacal de Altamira. Managua, Nicaragua Teléfonos: +(505) 8662-5312 Página Web: www.saenicsa.com
What are my immediate obligations after having incorporated?  After incorporating your obligations are to report taxes each month to both national and municipal tax authorities. For businesses that need to maintain inventory, once a year an annual year-end inventory declaration is due within the first 30 days of January. All corporations must also declare an annual year end income tax declaration without exception before the last day of February of every year. Corporations must also maintain accounting records in compliance with regulations in Nicaragua and utilize fiscal documents that are in accordance with policies established by Nicaraguan Tax Authorities.

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