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NICARAGUA - NEW REPORTING OBLIGATIONS BEFORE THE GENERAL DEPARTMENT OF CENTRALIZATION OF INFORMATION AND PREVENTION (DGCIP)
On June 10th, 2022, DGCIP issued Newsletter DGCIP-03-2022, which establishes additional reporting obligations on the part of Attorneys and Notary Publics who authorize, participate, or intervene (or are about to do so) in transactions or services for or on behalf of their clients...
THE ENTRY REQUIREMENTS TO NICARAGUA ARE MODIFIED AND THE NEGATIVE TEST REQUIREMENT FOR COVID-19 IS ELIMINATED
On June 16, 2022, the Nicaraguan Ministry of Health issued the Ministerial Resolution No. 309-2022, which amends the Ministerial Resolution No. 358-2020 that required travelers seeking to enter Nicaragua, among others, to present a negative test result: Real-time Polymerase Chain...
NEW NATIONAL CLIMATE CHANGE POLICY IN NICARAGUA
By Presidential Decree No. 04-2022, published in La Gaceta, Official Gazette No. 35 of the twenty-second of February of the year two thousand and twenty-two, the National Climate Change Policy (the "Policy") was approved.
Among others, the Policy reinforces policies an...
ARIAS NICARAGUA VOLUNTEERS AT THE MONTIBELLI PRIVATE WILDLIFE RESERVE
On June 5th, our team in Nicaragua carried out soil and water conservation works in commemoration of World Environment Day, as part of its annual volunteer program and strategic objectives of Corporate Social Responsibility that the firm has at the regional level. The works consi...
NICARAGUA - AMENDMENT TO THE LABOR CODE FOR THE INCLUSION OF A NEW NATIONAL HOLIDAY
Last Friday, May 20, 2022, Law No. 1118 "Law Declaring Mother's Day a National Holiday" came into force, which amends article 66 of the Nicaraguan Labor Code, by including May 30 as new mandatory national holiday.
This implies that employers must comply with giving...
NICARAGUA - NEW REGULATIONS FOR PROVIDERS OF FINANCIAL SERVICES OF PAYMENT SERVICES AND VIRTUAL ASSETS
By means of Resolution CD-BCN-XXV-1-22 published in The Gazette, Official Diary No. 76 last Wednesday, April twenty-seventh, two thousand twenty-two, the Central Bank of Nicaragua (hereinafter "BCN") issued the Regulations for Financial Technology Providers of Payment S...
NICARAGUA - TEMPORARY RULE FOR THE AMENDMENT OF ARTICLE 15 OF CREDIT CARD OPERATIONS REGULATIONS ENTERS INTO FORCE
On March 29, 2022, the Board of Directors of the Superintendence of Banks and Other Financial Institutions (SIBOIF) published Resolution No. CD-SIBOIF-1305-1-MAR29-2022, Temporary Rule for the Amendment of Article 15 of Credit Card Operations Regulations.
Said Amendment ...
AMENDMENTS TO THE CIVIL LAW NOTARY OBLIGATIONS AND THE COMMERCIAL CODE OF NICARAGUA
On April 4, 2022, Law number 1113 "Amendments to the civil law of notaries and the commercial code of the Republic of Nicaragua" came into force. Among the relevant aspects of these amendments, the status of Civil Law Notaries is reiterated as obligated subjects, that i...
NICARAGUA - CREATION OF A NATIONAL GREENHOUSE GAS EMISSIONS MITIGATION COMMITTEE
Last March 16, 2022 the Presidential Decree No. 06-2022 was published in La Gaceta Diario Oficial No. 51, which formally created the National Committee for the Mitigation of Greenhouse Gas Emissions (hereinafter the "Committee"), whose main objectives are to adapt the N...
NICARAGUA PROMOTES THE IMPORTATION OF ELECTRIC VEHICLES INTO THE COUNTRY
On February 15th, 2022, Law No. 1,111, Law of Amendments and Additions to Law No. 554, Energy Stability Law, was published. The main objective of this law is to encourage the purchase and import of new electric vehicles, through the exemption of up to 100% of the import customs d...
MINIMUM WAGES INCREASE IN NICARAGUA
In accordance with agreements reached by National Minimum Wage Commission on February 3rd, 2022, agreement CNSM 03/02/2022, minimum wages will be increased by seven percent (7%) annually. Additionally, the agreement ratified the eight-point twenty five percent (8.25%) increa...
DATA PRIVACY WEEK - NICARAGUA: DATA PROTECTION LAW
Nicaragua has, since March 29th, 2012, a Personal Data Protection Law and its Regulations, with the purpose to protect individuals or legal entities when their personal data is being processed, whether automated or not, in order to guarantee the right to personal and family priva...
NICARAGUA - UPDATE OF THE VALUE OF THE SPECIFIC QUOTA PER LITER OF ALCOHOL FOR THE YEAR 2022
On December 17, 2022 the Ministry of Treasury signed and published the Ministerial Agreement No. 012-2011, which notifies the new quota for the specific tax on alcoholic beverages, wines and beers as applicable from January 1 to December 31, 2022.
This update is made in acc...
NICARAGUA - UPDATE OF THE VALUE OF THE STAMP TAX FOR THE YEAR 2022
On December 17 of 2021, the Ministry of Treasury signed and published the Ministerial Agreement No. 011-2011, which notifies the new values to be paid for the Stamp Tax as applicable from January 1 to December 31, 2022.
This update of the values of the Stamp Tax is made in acco...
NICARAGUA REGULATES THE COMMERCIALIZATION OF ELECTRIC ENERGY
Last November 25th, 2021, Law No. 1094, Law of Amendments and Additions to Law No. 272 Law of the Electric Industry and its Reforms, came into effect, that seeks to strengthen and diversify the activities of the electric sector, through the regulation of the commercialization act...
ARIAS NICARAGUA: FIRM OF THE YEAR 2021 BY WHO’S WHO LEGAL
Every year Who's Who Legal carries out an in-depth research and evaluation, in which they identify attorneys in different practice areas and leading law firms in over 70 jurisdictions. Since 1996, Who's Who Legal has recognized and raised awareness of leaders in the legal...
NICARAGUA - AMENDMENTS TO FINANCIAL AND BANKING REGULATIONS
On August 24, 2021, the Nicaraguan Parliament approved amendments to the General Banking, Non-Banking Financial Institutions and Financial Groups Law, particularly with respect to sanctions applicable to directors, managers, officers, employees and internal auditors of financial ...
NICARAGUA - RESOLUCIÓN MINISTERIAL NO.334-2021 - “SE APRUEBAN LOS REQUISITOS Y PROCEDIMIENTOS DE REGISTRO SANITARIO DE LOS PRODUCTOS DE TABACO”
On August 6, 2021, Ministerial Resolution Number 334-2021 was published in Nicaragua in the Gazette Number 146. Such resolution approves the requirements and procedures for sanitary registration of tobacco products and their derivatives; registration of establishments dedicated t...
A BRIEF GUIDE TO OBTAINING BREEDER’S RIGHTS FOR A PLANT VARIETY IN COSTA RICA
Since Costa Rica joined UPOV on December 2008 plant variety protection rights are obtainable through a simple and efficient process. The competent authority for this registration is the National Seeds Office (OFINASE).
The breeder’s right shall be granted to the breeders o...
ARIAS CONTINUES TO GROW BY PROMOTING KEY TALENT IN THE REGION - RODRIGO IBARRA PROMOTED TO PARTNER IN ARIAS NICARAGUA
At Arias, we have always distinguished ourselves by being a firm that promotes its key talent to be, together, strategic partners to our clients and make things happen. Promoting our talent is a priority, we consider it key to offer our clients top notch legal services....
ARIAS NICARAGUA TIER 1 BY IFLR1000 - PROJECT DEVELOPMENT - CORPORATE AND FINANCIAL
The thirty-first edition of the IFLR1000 guide was recently published and in Nicaragua we were ranked as TIER 1 in the Project Development and Financial and Corporate practices, this rating is very significant and valuable for the firm because their research i...
NICARAGUA - CARLOS ÚBEDA - LEGAL INFLUENCER BY LEXOLOGY
Lexology Legal Influencers recognizes the thought leaders in the legal industry every quarter. Individual experts and companies are chosen through their proprietary scoring system that takes into account the number of readings and lexscore of each article written by law...
BENCHMARK LITIGATION RATED OUR ENTIRE TEAM OF LITIGATORS IN NICARAGUA
Benchmark Litigation recently announced its 2021 ranking in which they appoint recognized attorneys in the Litigation and Arbitration areas around the world. On this occasion our entire team of litigators in Nicaragua was included in the list in several categories:
Roger P&eac...
NICARAGUA OPTS TO START REGULATING VIRTUAL ASSETS
On May 17, 2021, Law No. 1072 Law of Amendments and Additions to Law No. 977 Law against Money Laundering, Financing of Terrorism and Financing of the Proliferation of Weapons of Mass Destruction ("LA/FT/FP") and Addition to Law No. 561 General Law of Banks, Non-Banking...
ARIAS NICARAGUA ADVISES THE LARGEST PLACEMENT OF GREEN BONDS IN CENTRAL AMERICA AND THE CARIBBEAN
CMI Energy, of the CMI Latin American family corporation, financed the placement of US$700 million in green bonds, this being the largest placement of green bonds in Central America and the Caribbean. The successful transaction was executed within the celebration of CMI&rsq...
NICARAGUA - LAW NO. 1068 “LAW FOR THE CREATION OF THE NATIONAL AUTHORITY FOR SANITARY REGULATION”
On March 24, 2021, the Law No. 1068 “Law for the Creation of the National Authority for Sanitary Regulation” came into force in Nicaragua, by its publication in the edition No. 58 of La Gaceta-Diario Oficial. The purpose of the Law is the creation of the National Auth...
NICARAGUA - LEGISLATIVE INITIATIVE FOR THE CREATION OF THE NATIONAL AUTHORITY FOR SANITARY REGULATION
On March 18, 2021, the Legislative Initiative for the Creation of the National Authority for Sanitary Regulation was approved by the plenary of the National Assembly of Nicaragua, the purpose of which is the creation of the National Authority for Sanitary Regulation (NASR), legal...
NICARAGUA - MINIMUM WAGES INCREASE IN NICARAGUA
In accordance with agreements reached by National Minimum Wage Commission on February 25th, 2021, minimum wages will be increased by three percent (3%) annually starting on March 1, with the exception of (a) minimum wages for workers from artisanal and tourism small enterprises, ...
NICARAGUA - TELCOR ISSUES REGULATION REQUIRING OPERATORS TO PRESERVE DATA GENERATED FROM TELECOMMUNICATION SERVICES
Within the framework of the regulation of Law 1042, the Cybercrime Law (the "Law"), which entered into force on October 30, 2020, the Nicaraguan Institute of Telecommunications and Postal Services (TELCOR) published on Friday, January 29, 2021, the Administrative Agreem...
NICARAGUA - AMENDMENTS TO THE LAW FOR THE PROTECTION OF THE RIGHTS OF CONSUMERS AND USERS
On February 9, 2021, Law Number 1,061 Law of Amendments and Addition to Law No. 842, Law for the Protection of the Rights of Consumers and Users, was published in The Gazette Official Daily No. 27.
Among its amendments are: i) the expansion of the concept of "Consum...
NICARAGUA - OPERATION OF THE REGISTRY OF THE FINAL BENEFICIARY
On November 26th, the Regulations for the Operation of the Registry of the Final Beneficiary of Corporations (the "Regulations") came into force. The Regulations were issued by the Supreme Court of Justice with the purpose to regulate the procedure for registration...
NICARAGUA - REFORMS IN THE ENERGY INDUSTRY LEGISLATION
On September 11, 2020, Law No. 1037, Law for the Reform and Addition of Law No. 532, Law for the Promotion of Electricity Generation with Renewable Sources and its reforms was published in The Gazette Official Daily No. 171, incorporating important transformations to the energy s...
NICARAGUA - CREATION OF THE CORPORATIONS´ FINAL BENEFICIARY PUBLIC REGISTRY
Last August 20th, 2020 Congress passed Law Number 1035, Law of Amendments and Additions to the "General Law of Public Registries" and the "Code of Commerce", resulting in major transformations to the Nicaraguan business law.
Amongst its main modi...
NEW FEES FOR IMMIGRATION SERVICES IN NICARAGUA
On August 6, 2020, Law No. 1033 Law of reform and addition to Law No. 761 General Law of Immigration (“Law No. 1033”) came into force by which it was amended articles 121,122 and 123 of Law No. 761 (“Law No. 761”), related to fees for immigration services....
NEW MEASURES IMPLEMENTED AT THE BORDER POSTS FOR ENTERING NICARAGUA
Through Ministerial Resolution number 346-2020 emitted by the Ministry of Health (MINSA), it was decided to adopt new measures for the entry into the country to strengthen the epidemiological control of the Covid-19 Pandemic, which began to take effect on July 13, 2020.
The meas...
NICARAGUA: TELCOR EXPANDS THE OBLIGATION OF TELECOM OPERATORS TO INFORM APPOINTMENTS RELATED TO MANAGEMENT POSITIONS
On May 18 of 2020, through the Official Gazette number 88, the new Administrative Agreement number 004-2020 came into force by which it was amended the article number 1 of the previous Administrative Agreement number 006-2013, both issued by the Nicaraguan Telecommunication Regul...
NICARAGUA: TAX AUTHORITY ENABLES ONLINE SOLUTIONS APPLICATION
On May 8, 2020 the Tax Authority enabled a “new application called “Online Solutions (SELIN due to its acronym in Spanish), which may be accessed through the Electronic Tax System (VET due to its acronym in Spanish) of every taxpayer.
SELIN is the new method imp...
NICARAGUA: NEW PROVISION ON THE REGISTRATION OF AMENDMENTS TO THE ARTICLES OF INCORPORATION
On April 21, 2020, through Circular Letter No. 210420, the National Directorate of Registries of the Supreme Court of Justice notified that as of that date the Commercial Registry would not require judicial approval in cases of Amendments to the Articles of Incorporation of Limit...
NICARAGUA: LAWS OF AMENDMENTS AND ADDITIONS TO LAW
On Friday, April 03, 2020, Laws No. 1024 “Law of Amendments and Additions to Law No. 380, Trademark Law and Other Distinctive Signs ” and Law No. 1025 “Law of Amendments and Additions to Law No. 354, Law on Invention Patents, Utility Models and Industrial Design...
NICARAGUA: GENERAL RECOMMENDATIONS ON OCCUPATIONAL HEALTH AND SAFETY AGAINST CORONAVIRUS
Following the outbreak of Coronavirus (COVID-19) and despite the fact that each of the countries in the Central American region has special regulations on occupational health and safety, it has been seen that there are still various challenges and issues in both the public and pr...
NICARAGUA - ANNUAL INCOME TAX 2019 ORDINARY PERIOD FILING AND PAYMENT
Prior to the enforcement of Law No. 987, Law of amendments and additions to Law N° 822 Nicaraguan Tax Law (hereinafter “Amendments to the Tax Law”) the taxpayers (individuals or legal entities) that were incorporated under the ordinary fiscal regime were required ...
ARIAS NICARAGUA ADVISES BANCO LAFISE BANCENTRO ON A DPR TRANSACTION
Arias acted as Nicaraguan counsel to Banco Lafise Bancentro in the sale, assignment, transfer, and conveyance of all the bank´s Diversified Payment Rights and all collections thereunder to a Cayman Islands entity, as well as an issuance of bonds with the participation of ...
NICARAGUA - GRACE PERIOD FOR THE PAYMENT OF CAPITAL GAIN TAX FOR THE TRANSFER OF ASSETS SUBJECT TO REGISTRY
Pursuant to Law 987 Law of Amendments and Additions to Law 822, "Nicaraguan Tax Law" (hereinafter "Law 987"), the tax rate for the transfer of assets subject to registry assets was increased. Notwithstanding the foregoing, the sixth Article of the Ordin...
NICARAGUA - NO INCREASE TO MINIMUM WAGES
Minimum wages are reviewed every six months, in accordance with applicable legislation. Nevertheless, according to Resolution CNSM-07/03/19of the National Minimum Wage Commission, dated March 7th, the Commission will remain in permanent session and will meet monthly, during a s...
NICARAGUA - NEW CHANGES TO SOCIAL SECURITY
Today´s resolution from the Directive Council of the Nicaraguan Social Security Institute (INSS, in Spanish) approved the following changes to the social security system:
Increase to employer and worker´s contributions to the Integral Regime.
Contributions of...
NICARAGUAN INSTITUTE OF SOCIAL SECURITY INCREASES THE MAXIMUM SALARY OF CONTRIBUTION
A resolution from the executive president of the Nicaraguan Social Security Institute (INSS, in Spanish) approved a 10.04% increase to the maximum amount subject to affiliates' contributions, therefore, effective January 1st, 2019 the maximum salary subject to social securi...
NICARAGUA - ADMINISTRATIVE PROCEDURES ONLINE
Administrative procedure for online registration of taxpayers and closing of tax obligations.
On July thirty-first of the current year, the General Administrative Provision Nº 01-2018 "Online registry of taxpayers" and the General Administrative Provision Nº...
NICARAGUA - APPROVAL OF THE ML/TF/FP
Approval of the Financial Analysis Unit Law and the Anti-Money Laundering Law, the Financing of Terrorism and the Financing of the Proliferation of Weapons of Mass Destruction.
Recently, the National Assembly approved the Law No. 977 on Anti-Money Laundering, Financing T...
NICARAGUA - MINIMUM WAGE INCREASE
The Ministry of Labor approved a 10.4% increase in minimum wages for the different economic sectors of the country, with the exception of the free trade zones, which increase will increase by 8.25%. 50% of the increase will be applied from March 1 and the remaining 50% will be ...
ARIAS NICARAGUA ADVISED THE EMBASSY OF THE UNITED STATES OF AMERICA IN THE SIGNING OF THE CONSTRUCTION CONTRACT WITH GRUPO COEN
Arias Nicaragua recently advised the Embassy of the United States of America, in the analysis of the acquisition of real estate under its "embassy" status; at the same time, in the negotiations and drafting each contract to be signed with Grupo Coen, for the constructio...
NICARAGUA - THE LAST INCREASE TO THE MAXIMUM SALARY CAME INTO FORCE
The last increase to the maximum salary subject to social security contributions came into force.
The last increase to the maximum salary subject to social security contributions, to calculate the social benefits granted by the Institute of Social Security (INSS), which i...
NICARAGUA - INTERNATIONAL VACCINATION CERTIFICATE FOR YELLOW FEVER
The Nicaraguan Ministry of Health (MINSA) is currently implementing Ministerial Resolution No. 18-2017, dated January 17th, 2017, which establishes the need to present an International Vaccination Certificate for yellow fever, for all persons traveling:
a) From a zone for whic...
LAW OF REFORMS TO THE LAW NO. 741 ON TRUST AGREEMENT IN NICARAGUA
The past May 24th, the National Assembly of Nicaragua, unanimously approved the Law No. 741 "Law of reforms to the Law on Trust Agreement", which was published this Tuesday 6th of June, 2017 in the Official Gazette No. 105. The law on Trust Agreement regulates the use...
INCREASE TO THE EMPLOYER'S CONTRIBUTION CAME INTO EFFECT IN NICARAGUA
An increase to the employer's contribution to finance the social benefits granted by the Institute of Social Security (INSS), came into effect since January, 2017. It is established in the Decree of Amendment to the Decree No. 975 "Regulation to the General Law of Social...
CHAMBERS LATIN AMERICA AWARDED NICARAGUA
On the ceremony held on September 16th in Miami Beach, Florida; Chambers and Partners awarded Arias as the Law Firm of the Year in Nicaragua. This award reflects notable achievement over the past 12 months including outstanding work, impressive strate...
ADJUSTMENT TO MINIMUM WAGE IN NICARAGUA
On Thursday August 18, 2016, the National Minimum Wage Commission approved a new adjustment of 4.5% to the minimum wages for various economic sectors. Revised minimum wages will apply from the first of September 2016, until September 28, 2017.
You may access the minutes wh...
MEMBERS OF ARIAS NICARAGUA WIN FIRST PLACE AT ENTREPRENEURS FAIR
Diana Fonseca and Uriel Balladares, paralegals in Arias Nicaragua presented a business project, obtaining the First Place in the category of Best Project with Social Impact, within the “XXI Muestra Empresarial” organized by Universidad Americana of Nicaragua.
The eve...
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