Anyone doing business in Nicaragua will likely have to deal with one of more of the following government departments:
Ministry of Trade, Industry, and Development – MIFIC
(Ministerio de Fomento, Industria y Comercio) www.mific.gob.ni
Created by Law 290 in 1998 and then updated by Law 612, this agency is responsible for “the integral development of Nicaragua through the sustainable increase in business activity of Nicaragua”.
This is also the organization that needs to approve an application for residency by a foreigner under the Business Investment category (minimum US$ 30,000 required) under LEY GENERAL DE MIGRACIÓN Y EXTRANJERÍA, LEY N°. 761, Articulo 32 – “Inversionista”.
ProNicaragua
(Investment Promotion Agency)
ProNicaragua is a non-profit organization established in 2002 as the country’s Investment Promotion Agency. It is a public and private partnership which aims to create economic growth and jobs by attracting direct foreign investment. They offer free services to qualified investors
Nicaragua Tourism Institute – INTUR
(Instituto Nicaragüense de Turismo) www.intur.gob.ni
INTUR was established by law to promote the country’s tourism sector and help realize the full potential of its destinations. It is involved in policies and programs as well as tourism projects.
Your new or existing business may need to be licensed by INTUR (https://www.intur.gob.ni/departamento-de-registro-y-calidad-turistica/) under one or more of the many categories of tourist related activities.
As well, they are involved in the Law 306 Tax Incentive Program for Tourism Investment and in addition they are the initial contact point for residency applications under the Pensionado and Rentista programs.
General Directorate of Income – DGI (Tax Department)
(Dirección General de Ingresos – DGI) www.dgi.gob.ni
The DGI (as it’s commonly known) was created in 1957 as a sub branch of the Ministry of Finance and Public Credit. In the beginning there were various “Directorates” for each type of tax (e.g. Sales Tax, Service Tax, Business and Personal) with different accounts for each type. With the advent of the “Single Taxpayer Registry” in 1981, a unique tax number program was established for all tax matters.
With that came the “RUC Number” or Registro Único de Contribuyente (Unique Taxpayer Registry) which made it easier to identify and connect individuals and businesses.
Director General of Customs – ADUANA
Dirección General de Aduanas (DGA)
As with most countries, there are customs offices at border posts, ports and airports. Colloquially known simply as “Aduana”, they are the authorized locations for the import or export of merchandise or other required mechanism such as clearance for final destination goods in transit through the Nicaraguan customs zone.
Ministry of Labor – MITRAB
(Ministerio del Trabajo) www.mitrab.gob.ni
MITRAB regulates the Nicaraguan labor laws and policies designed to protect both the employee and employee, including; labor rights, gender, working conditions, labor disputes, employment policies and any ratified international conventions.
The National Labor Code (Código del Trabajo Nicaragua) is the comprehensive piece of legislation that mandates equitable salaries and opportunities regardless of political, religious, racial, gender or any other reasons. Many people new to doing business in Nicaragua and being employers are surprised at the comprehensive nature of the Labor Code that works for the employee and employer. This leads directly into the INSS in the following paragraph.
Nicaraguan Institute of Social Security – INSS
(Instituto Nicaragüense de Seguridad Social) www.inss.gob.ni
In simple terms, through legally mandated worker and employer contributions (as well as the state budget) the INSS acts as a combined Healthcare, Workers Compensation (Sickness and Injury), Maternity Leave and Pension program to employees and their families.
