On Tuesday, August 16, 2016, the Executive Decree N° 12-2016
"Regulation to the Law N° 917 Law of Free Trade Zones for
Export", was published in the Gazette, Official Journal.
The referred regulation surged as a result from the
modernization process of the legal system that Nicaragua has been
experiencing in the recent years. Such regulation works as a
complement to Law No. 917 "Law on Free Trade Zones for
Export", which entered into force on October 16, 2015 and to
repeal the previous regulation (Decree No.50-2015).
Among the subjects addressed by this new regulation, let us
refer to the renovated incorporation process for a new free trade
zone before the Free Trade Zones National Commission, the
possibility of extend the exemption period for the payment of the
Income Tax for an identical term (15 and 10 years for the Operating
and Tenant companies respectively), the export of goods produced by
the free trade zone to the Nicaraguan ground, subcontracting,
customs and labor regime and also the signing of foreign personnel,
among other elements.
We invite all of the companies that operated under the free
trade zone regime, as well as any interested investment group, to
get updated about the effects that these new regulations will have
in their operation, for which they have CENTRAL
LAW LAW Nicaragua an ally. Likewise, let us remember that
Nicaragua has signed many trade agreements with parties like USA,
EU, Mexico, Chile, Taiwan, among others agreements.
CENTRAL LAW Nicaragua has a professional staff
recognized by the Free Trade Zones National Commission, as well as
the necessary experience in order to provide full legal advice at
Free Trade Zones.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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