Registering a company in Nicaragua is a step-by-step process that involves selecting a company type, choosing a name, preparing documentation, and registering with the Nicaraguan Ministry of Development, Industry and Trade and the Nicaraguan Revenue Administration. By following this guide and utilizing the provided resources, you should be well on your way to successfully establishing your business in Nicaragua. Be sure to adhere to the requirements and guidelines to ensure a smooth registration process and a successful start for your company in this dynamic and emerging market.
Step 1: Choose your company type
The first step in registering a company in Nicaragua is to decide the type of company you want to register. The most common types are:
- Limited Liability Company (Sociedad de Responsabilidad Limitada - SRL)
- Corporation (Sociedad Anónima - SA)
- Branch of a foreign company
Step 2: Choose a company name
Before registering your company, you'll need to choose a suitable name. The Nicaraguan Ministry of Development, Industry and Trade (MIFIC) has guidelines for acceptable names, which can be found at this link: https://www.mific.gob.ni
Step 3: Prepare the required documents
Next, prepare the necessary documentation for your chosen company type. The key documents are:
- Articles of Association (for SRL and SA)
- Application for Company Registration (for all types)
These forms can be obtained from the MIFIC's website: https://www.mific.gob.ni
Step 4: Identify company officers and shareholders
You will need to identify at least one director (for SRL and SA) or one representative (for Branch of a foreign company). Directors or representatives must be at least 18 years old. Shareholders can be individuals or corporate entities.
Step 5: Capital requirements
Nicaragua requires a minimum capital of C$10,000 for SRLs and C$20,000 for SAs. There is no minimum capital requirement for branches of foreign companies.
Step 6: Register your company
Once your documents are ready, you can submit your application to the Nicaraguan Ministry of Development, Industry and Trade (MIFIC). This can be done in person at their office or online via the following link: https://www.mific.gob.ni
The fees for registering a company are as follows:
- SRL: C$1,500 (approximately)
- SA: C$2,000 (approximately)
- Branch of a foreign company: C$2,000 (approximately)
Step 7: Register for taxes
After your company is registered, you must register for taxes with the Nicaraguan Revenue Administration (DGI). This can be done in person at the local Tax Office or online via the following link: https://www.dgi.gob.ni
Step 8: Obtain necessary permits and licenses
Depending on your business activities, you may need to obtain additional permits or licenses. Check with the relevant authorities and industry regulators for specific requirements.
The entire registration process, from preparing documents to receiving your Certificate of Incorporation, can take anywhere from 6 to 8 weeks, depending on the complexity of your application.