Setting up a company

How to start your own business

Setting up a business can be a challenge at the best of times, and starting one in an imbalanced environment can be even trickier.

Nicaragua's economy has endured several years of tribulations caused by natural disasters and the government's unpredictability. However, the country is taking a turn for the better with the government encouraging foreign investment in Nicaragua over the last few decades.  

If you dream of becoming a business owner but don't have a feasible concept yet, you can drive around the seaside and you can find cheap investment opportunities indicated by signs on buildings. The government is very lenient towards business owners and it would be a great idea to take a concept from your home country and apply it on a business in Nicaragua.

The procedure

In order to become a proud business owner, you have to complete the following procedure which takes approximately 2 weeks to complete:

1. Incorporation documents must be signed in front of a public notary
2. Accounting and corporate books of the company have to be bought (each company has 4)
3. Register the accounting books and register as a trader with the Commercial Registry.
4. Pay the inscription fees to any commercial bank and present the receipt at a one-stop shop (Ventanilla Unica)
5. Get the ‘unique registration document’ at the one-stop shop.
6. Get a municipal license.

It is very likely that you will need to hire employees for your new business, so it very important that you know the labour laws of Nicaragua.