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Nicaragua, Global Destination for Investments
Consortium Legal - Nicaragua, June 2014

In recent years, Nicaragua has experienced sustained economic growth, as a result of a strict management of its fiscal, financial, monetary and exchange policies. Its business-related administrative procedures and laws have contributed to a strong inflow of direct foreign investment, so much that the country intends to exceed this year an amount of 1500 million in investments in sectors such as: power, manufacture, agriculture, tourism and others...

Proposal of Modifications to the Mercantile Register for Creation of Companies
Consortium Legal - Nicaragua, June 2014

For the purpose of reducing the time of creation of new companies and helping medium-sized and small companies in their organization, the Ministry of Economy (Mineco) submitted a proposal to make modifications to the Mercantile Register. Such modifications include changes in tariffs, online inquiries concerning the names of companies, reduction of terms and improvements in procedures...

Nicaragua Modernizes the Administration of Labor Justice
Consortium Legal - Nicaragua, February 2013

Since year 2008 Nicaragua has been modernizing the administration of labor justice. The Ministry of Labor started the modernization with the implementation of an oral process for the fulfillment of certain formalities required before such institution, such as termination of employment contracts for justified cause, collective suspensions and business closures. The implementation of this oral process has been successful because it reduces and simplifies processes...

Competitive Advantages of Savings and Credit Entities in El Salvador
Consortium Legal - Nicaragua, February 2013

Savings and Credit Entities (SCEs) are regulated financial institutions of private capital authorised to develop lending activities. The operation of SCEs is governed by the Law of Cooperative Banks and Savings and Credit Entities, which came into force on July 1 2001, amended in January 1 2009 to its current regime...

Key Issues of the New Nicaraguan Insurance Law
Consortium Legal - Nicaragua, August 2012

Insurance allows someone who suffers a loss or accident to be compensated for the effects of their misfortune. It lets you protect yourself against everyday risks to your health, home, business and financial situation. Concepts of insurance have been extended beyond the coverage of tangible assets. Now the risk of losses due to sudden changes in currency exchange rates, political disturbance, negligence and liability for the damages can also be covered...

Legal Newsletter Edition 24
Consortium Legal - Nicaragua, June 2006

features 1. Modification of the Requirements for banks'shareholders. 2. Fiscal incentives for the development of the Forest Sector. 3. The unconstitutionality of the Bankcruptcy process in Nicaragua. 4. Right of priority. 5. Modernizing Legal procedures in Real Estate transactions. 6. Closing activities in the acquisition of properties. 7...

Integration of the Board of Directors in Corporations
Consortium Legal - Nicaragua, November 2005

The structure of Stock Companies consists of three organs: The General Meeting of Shareholders, as the supreme organ; the Board of Directors, as an administrative organ; and the Supervisor or Supervisors, as the supervision organ. The Board of Directors is a collegiate organ whose members are shareholders periodically elected by the General Meeting of Shareholders and which function is to perform all the acts of administration, representing the company before third parties...

Approval of the Tributary Code
Consortium Legal - Nicaragua, November 2005

In Nicaragua, we did not have a Tributary Code as a unique legal body, the attributions of the Tributary Administration and the regulation of the different tributary procedures, the rights and duties of the contributor, were dispersed in our legislation existing in several cases, inapplicable norms, conflicts of application of the same, lack of adaptation to the actual technological recourses, among others...

Trademark Classification and Their Treatment in the Niaraguan Trademark Regime
Consortium Legal - Nicaragua, November 2005

The first idea that we may conceive only by reading the title of the present article is: What signals may constitute a trademark?, the answer to this question is given by section 3 of the Law No. 380 “General Law on Trade Marks and Other Distinctive Signs”, published in The Gazette No. 70, of April 16 th 2001, which is the norm regulating this matter...

Mediation Congresses
Consortium Legal - Nicaragua, November 2005

In the past days, two very important events at the Regional and National Level, honored the ADR mechanisms, specifically the mediation and arbitration proceedings. We refer to the First Central American Congress on Mediation and Arbitration organized by the Nicaraguan Chamber of Commerce and the Third National Congress on Mediation organized by the Office of the Alternative Dispute Resolution Division (DIRAC) of the Supreme Court of Justice...

Ley Marco vs. Superintendencia de Servicios Publicos
Consortium Legal - Nicaragua, November 2005

In February of the present year, the Law No. 511 on the Creation of the Superintendence of Public Services (SISEP) was enacted. This Law substituted on its functions the Institutions rendering Public Services of Telecommunications, Energy and Drinking Water, (INAA, TELCOR; INE), and revoked their Organic Laws leaving them without any effect. From this legal event it existed in Nicaragua uncertainty for all the private parties who had established legal relationships with these institutions...

Powers Granted to the Legal Representative of the Company
Consortium Legal - Nicaragua, April 2004

In the commercial scope, the legal representation of limited liability companies is usually exercised by the President of the Board of Directors...

Judicial Career Law. the New "Majority's Opionion"
Consortium Legal - Nicaragua, April 2004

On March 19, 2004 the new "majority's opinion" subscribed by the following members of parliament Donald Lacayo, Luis Benavides, Damicis Syria, Noel Pereira, Gabriel Creek, and Delia Arellano, on the controversial Law of Judicial Career was filed before the National Assembly...

Income Non Subject to Income Tax Payment
Consortium Legal - Nicaragua, April 2004

The Income Tax is one of the most important taxes within the national taxation system because the subjects and activities that are affected by it are very wide. The Income Tax is regulated by the Fiscal Equity Law, which is published in the Daily Official Gazette Num. 82, on May 6, 2003. This Law establishes that the tax base to calculate the annual income is the net rent, which is the gross income obtained by the taxpayer minus the deductions authorized by law...

Achievements of CAFTA Regarding Intellectual Property.
Consortium Legal - Nicaragua, April 2004

An effective protection of Intellectual Property Rights. Success is the word that better describes the achievements obtained from the negotiations of CAFTA for the protection of intellectual property rights. Without a doubt, the negotiators that acted on behalf of Nicaragua were exceptional representatives of the needs for a better protection of these rights before evident infractions that have been produced and remain without punishment...

Mediation and Its Other Benefits
Consortium Legal - Nicaragua, April 2004

It has not been a secret that confidentiality and the possibility of investing less resources (time and money) in the conflict resolution are the most used strategies in the promotion and integration of the mediation process into the formal system...

Hydroelectric Energy: Hydroelectric Subsector Promotion Law (Law 467)
Consortium Legal - Nicaragua, April 2004

As we all know water is a fundamental element for life and for all ecosystems. It is also an economic resource that contributes to satisfy human necessities as fishing, agriculture, industry, transport, leisure and, not less important, hydroelectric energy generation. In Industry, water is fundamental in numerous processes and applications and, in that sense, hydroelectric use is of extraordinary importance...

Unfair Competition Regarding Intellectual Property in Nicaragua
Consortium Legal - Nicaragua, March 2004

Nicaragua currently has an exclusive legislation in Intellectual Property, Law num. 380 "Trademarks and other Distinctive signs Law" and its Bylaw (Published in Daily Official Gazette, num. 70 on April 16, 2001; and num. 183 on September 27, 2001). This regulation has been sustained and fortified by the establishment of the necessary mechanisms for the effective protection of the acquired rights, complemented with treaties and international conventions...

Due Diligence In Enterprises
Consortium Legal - Nicaragua, March 2004

It is basic to determine the legal status of enterprises in the business world. This becomes more important in different sceneries: when acquiring an existing corporation, investing in a going concern, granting loans, merger of companies, in joint ventures, etc. The term "Due Diligence" refers to the process of exhaustive search of the legal status of a specific enterprise...

The Judicial Career Law Draft Bills Two Versions on The Attempt to Modernize the Judicial Power
Consortium Legal - Nicaragua, March 2004

At this moment there are in the National Assembly two draft bills on the future Judicial Career Law, one proposed by the Supreme Court of Justice and the other one by the Presidency of the Republic. This article explains the main differences and similarities between these Judicial Career Law projects. Ways to enter to the Judicial Career · Both projects adopt the idea of public competition as the general mechanism of admission to the Judicial Career...

Income Tax In Nicaragua: Non-Resident's Retention
Consortium Legal - Nicaragua, March 2004

The Fiscal Equity Law, Law Num. 453, published on May 6, 2003, in the Daily Official Gazette Num. 82, establishes that natural persons, artificial persons or economic units, resident or not in the country, who perceive rent originated in Nicaragua are subject to a definite retention...

Mediation: An Expedite Option for Dispute Resolution
Consortium Legal - Nicaragua, March 2004

Commonly, conflicts are settled by a judicial organ, through which a legal expert issues a resolution according to legal criteria and provisions. Nowadays, the options to resolve conflicts are not only limited to the decision of a Judge, but there are alternative means characterized for being voluntary, confidential, economical, and expedite. These means are generally known as Alternative Dispute Resolution (ADR), which mainly include arbitration, mediation, and conciliation...

Public Indebtness General Law (Law Num. 477)
Consortium Legal - Nicaragua, March 2004

This Law regulates the process of public indebtedness in order to assure that the financial necessities of the Government and its payment obligations are satisfied at a lower cost, assuring the capacity of payment of the country. The Public Debt is conceived as the faculty of the State or its institutions to obtain financial resources or not, with reimbursable character, from foreign or domestic creditors...

 

 

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