Nicaragua’s one-stop shop for investment: setting up made easy
- 24 February 2021
In Nicaragua, the Investment One-Stop Shop (VUI, for its acronym in Spanish) was created in 2003 with the main objective of facilitating, simplifying, and expediting the procedures for the creation of new companies and the legalization of their operations in the different institutions of the public sector.
Published by PRONicaragua
The process of opening a business in Nicaragua is fast and easy, it is even considered one of the most agile in the region. This is thanks to the reforms that have been implemented to streamline the process and the existence of an Investment One-Stop Shop, which concentrates and accelerates the entire investment process.
Many governments have one-stop shops to encourage investment, ensuring that investors deal with a single organization rather than many different government agencies; but the types of one-stop shops vary greatly.
In Nicaragua, the Investment One-Stop Shop (VUI, for its acronym in Spanish) was created in 2003 with the main objective of facilitating, simplifying, and expediting the procedures for the creation of new companies and the legalization of their operations in the different institutions of the public sector. It is coordinated by the Ministry of Development, Industry and Trade (MIFIC, for its acronym in Spanish) and its purpose is to:
○ Inform and advise, free of charge, on the procedures, requirements and processes for the creation of new companies
○ Establish the necessary links to achieve administrative and systematic collaboration between the institutions
○ Improve the efficiency and quality of the services provided by public institutions to different users in the field of business creation and the legalization of business operations
The processes are simplified with the support of three public institutions in charge of the formalization of companies: the Supreme Court of Justice (CSJ, for its acronym in Spanish), represented by the Mercantile Registry; the General Directorate of Income (DGI, for its acronym in Spanish); and the corresponding municipal mayor's office.
In addition to the initial office located in Managua, the VUI has regional offices in Chinandega, León, Chontales, Masaya, Estelí, Matagalpa, and Rivas.
Entrepreneurs and investors can carry out the basic procedures to formalize all types of companies, without distinguishing national or foreign origin, economic activity, or size.
Although all types of companies can benefit from the services of the VUI, the procedures and fees vary according to the type of company, whether it is a natural person, a legal entity or a foreign branch. Visit this link to access the complete lists of requirements, forms, and fees for each type of procedure.
Steps to establish a company through the VUI
The steps to open a new business in Nicaragua through the VUI are the following:
1. Receive advisory on the business formalization process
2. Complete the corresponding registrations:
○ Register Deed of Incorporation
○ Register as Merchant and Book Stamp
○ Register General Power of Administration
3. Request issuance of Single Registration Document (DUR, for its acronym in Spanish) and Single Taxpayer Registration Number (RUC, for its acronym in Spanish)
4. Request proof of municipal registration and pre-registration employer number at the corresponding Mayor's Office
5. Request a Foreign Investment Registration certificate (for investments greater than US$30,000)
Contact us to learn more about the investment process in Nicaragua.
For more information on the VUI visit their website.