The Central American country of Nicaragua is located between the Pacific Ocean and the Caribbean Sea, and is known as the country of 1000 volcanoes. Nicaragua borders Honduras and Costa Rica, using the deep Costa Rican harbor for trade. The official language is Spanish, most of the population is fluent in English (Caribbean). In order to register a company in Nicaragua remotely, you will need to provide notarized copies of documents for the registration of a company in Nicaragua with a Spanish translation.
Nicaragua is 93rd out of 137 countries in the Global Competitiveness Index (as of 2017-2018). In the Index of Economic Freedom, the country ranks 98th out of 180 in 2017.
It is promising to open a company in Nicaragua in the mining industry, focusing on such deposits: a gas and an oil, non-ferrous metals, the tungsten, and small amounts of the mercury.
Oil is currently the subject of imports, and Western companies are trying to obtain a license to develop oil and gas fields in Nicaragua due to environmental concerns of neighboring countries (especially Costa Rica, with its developed tourism industry) and border disputes over the right to develop these fields.
Main foreign economic directions for the registration of a company in Nicaragua:
- An agricultural sector: shrimp and lobster, peanuts, coffee, a tobacco, a sugar;
- The livestock: a beef, dairy products;
- A mining.
Ideas for investing in the islands, in which it is relevant to establish a commercial firm in Nicaragua
- a diving service;
- domestic inter-island passenger transportation by the sea.
A jurisdiction is not involved in the automatic exchange of a tax information (CRS).We will provide you with legal support services in registering a company in Nicaragua remotely, making all the necessary stamps, signatures, so that you can open an account with a bank in Nicaragua without a personal visit.
To start a business in Nicaragua, you will need:
- at least 2 shareholders, of any residency;
- 1 director, a resident of Nicaragua;
- the authorized capital ($1).
SUMMARY TABLE WHICH ARE ESSENTIAL WHEN REGISTERING A BUSINESS IN NICARAGUA
|
A form of the incorporation |
LLC |
A company in the export trade zone in Nicaragua |
An offshore company in Nicaragua |
A branch |
|
|
The incorporation time |
4 weeks |
6 weeks |
4 weeks |
4 weeks |
|
|
A corporate tax |
30% |
0% - first 10 years 18% - in the future |
0% |
30% |
|
|
VAT |
15% |
0% |
15% |
15% |
The currency of Nicaragua is Oro Cordoba (Nicaraguan Cordoba, Golden Cordoba), according to the official exchange rate - 20,8 NIO = $1. Everywhere in Nicaragua you can pay for services and goods in dollars. Accordingly, it is possible to open a corporate account in Nicaragua both in cordoba and in dollars. YB Case specialists will provide legal advice on opening a bank account in Nicaragua remotely. You can call us, using the contacts listed on the site.
You can open a corporate account in Nicaragua at the following banks:
- Banco de america central;
- Banco de finanzas;
- Banco de la production;
- Citibank;
- Banco lafise bancentro.
