1. What is PRONicaragua?
PRONicaragua is Nicaragua’s official investment promotion agency. Its mission is to generate economic growth and job creation by promoting high-quality investments. It offers complimentary support services to qualified investors interested in exploring business opportunities in Nicaragua.
2. Why should my company invest in Nicaragua?
Nicaragua has been positioning itself as one of the most attractive investment platforms in Latin America due to multiple competitive advantages that include: the highest levels of citizen security in the region, a pro-investment government and legal framework, preferential access to key export markets and a young and dynamic labor force with short learning curves, among others.
3. What is the position of the Government of Nicaragua towards private investments?
The Government of Nicaragua recognizes the positive impact of private investment in Nicaragua's economy and society and promotes it actively. Proof of this is the existence of PRONicaragua, the official investment promotion agency and also its leader, the Presidential Delegate for Investments. The main goal is to provide support and assessment to private investors and guarantee the successful establishment of quality projects.
4. What kind of legal guarantees do investors have in Nicaragua?
The main legislation that governs foreign investment is the Foreign Investment Promotion Law (344) and its bylaws. This law provides equal treatment of foreign and domestic investment; eliminates restrictions on the way in which foreign capital can enter the country and recognizes the foreign investor's right to own and use property without limitation (and in the case of a declaration of eminent domain, to receive proper indemnification).
Additionally, the Mediation and Arbitration Law (540) governs two alternate methods to the judicial process to expeditiously solve any dispute resulting from contractual relations between private parties.
5. What kind of incentives does Nicaragua offers to investors?
The Government of Nicaragua offers a series of investment incentives in priority sectors of the economy, such as:
- Agribusiness & Forestry
- Export-oriented activities such as: Light Manufacturing Operations and Outsourcing Services
- Renewable Energy Generation
6. What kind of trade agreements does Nicaragua have?
In total, Nicaragua has preferential access to a worldwide market of over 1.5 billion people. It has free trade agreements with the United States, Mexico, Panama, Taiwan, Dominican Republic, Chile, the European Union and South Korea. Furthermore, the country enjoys preferential access agreements to key markets in Central America, the Caribbean and South America.
7. What is the minimum wage in Nicaragua?
The Minimum Wage Law (Law 625) states that minimum wage is fixed every six months according to the details of each job and industry. This fixation may be per unit of time, work, or task, and can be calculated per hour, day, and week, per fourteen days, fortnight or month. For this, Nicaragua established an inter-institutional Minimum Wage Commission.
8. How long does it take to set up a new company in Nicaragua?
The process of registering a company in Nicaragua can be fast tracked by using the services provided by the Investment One-Stop Shop (VUI, for its acronym in Spanish). The office, which gathers the main government institutions involved in the process, provides top-quality services free of charge for investors, reducing the registration time to an average of one week.