The communication summarizes the legislative updates that impact commercial companies established in Nicaragua. The updates include a series of new obligations before the Public Mercantile Registry (RPM) and before the recently created Registry of Final Beneficiary (RBF). The RPM requires that all companies registered in Nicaragua must carry out an Update of Basic Information, which is…
Tag Archives: Nicaragua
BLP advised the seller, Grupo Orbis (Pintuco), on this regionally impactful transaction employing attorneys from each of our offices in Costa Rica, Nicaragua, Honduras, El Salvador, and Guatemala, as well as coordinating with lawyers in Panama. Besides conducting due diligence in the jurisdictions of Central America, BLP also analyzed the competition in each of the countries and if required…
In a follow-up to the creation of the Final Beneficiary Registry (FBR) in August, on September 30, 2020, the National Registry Office issued an informative circular addressed to companies and the private sector. The circular indicates to all companies, and before the entry into force of the FBR, the necessity to update their basic information* in the…
On September 8, 2020, the Nicaraguan National Assembly approved the proposed reform of Law 532, a law for the promotion of electricity generation with renewable sources. Since its approval in 2005, this law has undergone several reforms through which the tax incentives that were initially given to electricity generation projects from renewable sources have been…
On Friday, August 21, the National Assembly approved the Law of Reforms to the General Law of Registries and an article of the Commercial Code, creating the bases for a Registry of the Final Beneficiary of Commercial Companies. What is a Final Beneficiary? It is the natural person who owns or controls a legal person…
On Friday, August 21, the Nicaraguan National Assembly approved the creation of the Registry of Final Beneficiaries, through reforms to the Registries General Law on and the addition of one article to the Commercial Code. This Registry is intended to provide certainty of who are the true owners or controllers of legal persons operating in…
For quite some time, electronic contracting has been a business reality; and in the labor sphere, a business force. When the pandemic eventually passes, it will leave, besides the pain and anguish that it has signified, many lessons of life, organization and employment formations, and foresight of legal amendments according to situations like this pandemic…
Occupational health and safety of employees in companies is an issue that is especially important under the current pandemic circumstances caused by Covid-19. Different economic sectors in Nicaragua were affected by the emergence of the virus in the country, mainly those related to services, commerce, and tourism. Nicaraguan occupational health and safety legislation establishes a…
On Friday, April 3, 2020, laws No. 1024, Law on Reforms and Additions to Law No. 380, Law on Trademarks and Other Distinctive Signs, and Law No. 1025, Law on Reforms and Additions to Law 354, Law of Patents of Invention, Utility Models and Industrial Designs were published in La Gaceta, Official Newsletter, thus coming…
In case of business closure and termination of the employment relationship, can the business schedule the payment of the severance agreement? A: Employers and employees can agree on a liquidation payment plan beneficial to both parties, but employers cannot impose it unilaterally. It is important that the arrangement is made in writing and executed by both…
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