{"id":33688,"date":"2024-08-19T09:45:09","date_gmt":"2024-08-19T15:45:09","guid":{"rendered":"https:\/\/garciabodan.com\/?p=33688"},"modified":"2025-10-14T15:57:02","modified_gmt":"2025-10-14T21:57:02","slug":"nicaragua-issues-law-to-encourage-tourism-development","status":"publish","type":"post","link":"https:\/\/garciabodan.com\/en\/nicaragua-issues-law-to-encourage-tourism-development\/","title":{"rendered":"Nicaragua Issues Law to Encourage Tourism Development"},"content":{"rendered":"<p><span data-contrast=\"auto\">The Official Gazette of Nicaragua has published the new <\/span><b><span data-contrast=\"auto\">Law of Incentives for Tourism Developments\u00a0in Official Journal No. 141<\/span><\/b><span data-contrast=\"auto\">, aimed at promoting investment in tourism infrastructure through a package of fiscal and customs benefits.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\r\n<p><span data-contrast=\"auto\">This new law seeks to drive the growth of infrastructure capable of attracting both domestic and international tourism. Benefited projects can include a wide range of developments such as hotels, accommodation centers, restaurants, amusement parks, zoos, theaters, museums, art galleries, and fair and craft centers.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\r\n<p><b><span data-contrast=\"auto\">Creation of the Tourism Incentives Committee<\/span><\/b><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\r\n<p><span data-contrast=\"auto\">The new law establishes the creation of the Tourism Incentives Committee, which will evaluate and approve the submitted projects. This committee will be composed of representatives from the Ministry of Finance and Public Credit, the Nicaraguan Institute of Tourism, the General Revenue Directorate, and the General Customs Directorate. Additionally, representatives from local municipalities may be called upon depending on the project&#8217;s location.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\r\n<p><span data-contrast=\"auto\">With this new legislation, Nicaragua aims to establish itself as a premier tourist destination by providing a favorable environment for the development and expansion of the tourism industry.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\r\n<p><b><span data-contrast=\"auto\">Benefits of the Law<\/span><\/b><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\r\n<p><span data-contrast=\"auto\">Approved projects by the Tourism Incentives Committee will be eligible for the following incentives:<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:240,&quot;335559739&quot;:240,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\r\n<ul>\r\n\t<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559683&quot;:0,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Income Tax Exemption:<\/span><\/b><span data-contrast=\"auto\"> Projects will be exempt from this tax for up to ten years from the start of their operations.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:278}\">\u00a0<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n\t<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559683&quot;:0,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">VAT and Other Tax Exemptions:<\/span><\/b><span data-contrast=\"auto\"> Exemptions will apply to the local purchase of goods and services necessary for the construction and outfitting of tourism infrastructure, as well as the importation of construction materials, furniture, equipment, and accessories during the investment phase.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:278}\">\u00a0<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n\t<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559683&quot;:0,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Property Tax Exemption:<\/span><\/b><span data-contrast=\"auto\"> Tourism developments will be exempt from property taxes for up to ten years.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:278}\">\u00a0<\/span><\/li>\r\n<\/ul>\r\n<p><span data-contrast=\"auto\">To qualify for these incentives, projects must meet a minimum investment of USD 300,000 or its equivalent in local currency. Small and medium-sized enterprises (SMEs) in the tourism sector can qualify with a minimum investment of USD 50,000.<\/span><\/p>","protected":false},"excerpt":{"rendered":"<p>The Official Gazette of Nicaragua has published the new Law&#8230;<\/p>\n","protected":false},"author":10,"featured_media":33703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[229],"tags":[],"class_list":["post-33688","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/posts\/33688","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/comments?post=33688"}],"version-history":[{"count":2,"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/posts\/33688\/revisions"}],"predecessor-version":[{"id":43258,"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/posts\/33688\/revisions\/43258"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/media\/33703"}],"wp:attachment":[{"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/media?parent=33688"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/categories?post=33688"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/tags?post=33688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}