Before Trading, Import and Export Businesses Must Register

November 30, 2007

Nicaragua is a country that benefits greatly from its geographic position as well as from its vast resources.

This ultimately translates into a relative benefit for companies that wish to

import or export.

Before an investor can decide to bring their business to Nicaragua, they must first investigate the specific requirements and rules of their area of business.

Nicaragua’s import/export sector is principally regulated by the rules of the Central American Integration System.

This integration results in the unification and systematization of all tariffs and rules related to trade between the countries that form the region.

As a result, Nicaragua’s legislature has passed Law 265, “The Law of Imports, Exports and other Regimes.”

The basic principle of this law is to establish that all import and export activity must be carried out through the authority of local Custom agents.

However, investors must understand that apart from the regulations imposed on Customs agents, they must also comply with different requirements as established for people or legal entities who wish to perform any import/export activity in Nicaragua.

To register as an importer, one must comply with the following requirements:

For Individuals (Recording of RUC Number for Importers):

*Identification

*RUC card

*Tax Certificate

*Special Power of Attorney

For Corporations:

*Articles of Incorporation / Bylaws

*RUC card

*Tax Certificate

*Special Power of Attorney

To register as an exporter, one must comply with the following requirements:

For Individuals:

*Copy of RUC card (Foreigners must have residency)

*DGI Tax Contributor Certificate

*Signature registry

*Identification of the exporter and representatives, if any.

*Special Power of Attorney to proceed before CETREX, notarized for Customs agencies (if desired).

*Request for registration authenticated by an attorney.

For Corporations:

*RUC Card

*DGI Tax Contributor Certificate

*Signature registry

*Duly registered Articles of Incorporation/Bylaws and Registered General Power of Administration.

*Cooperative Associations must present the publication of the official government daily La Gaceta in which they were authorized as a Corporation and the Certificate from MITRAB that establishes the term of the Cooperative Association.

*Foreigners must present a document from Immigration demonstrating their temporary or permanent residency.

*Letter from the President or General Manager of the company authorizing the signatures, or the people capable of proceeding with the diligences when a Customs agent is unavailable.

*Request for registration authenticated by an attorney.

Once these requirements are met and registration is approved, one can begin any import/export activity in accordance to the standard practices of this trade.

On a final note, the commercial part of the import/export activity is regulated first and foremost by contract law, as the import and export activity is rooted in the purchase and sale of goods.

Fernando Sánchez is a junior attorney with

Managua law firm Garcia & Bodan.

 

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