Nicaragua Approves Trust Law

The new law will regulate Trusts, which did not exist before in Nicaragua.

Friday, November 5, 2010

According to Walmaro Gutierrez, head of the Parliament´s Economic Affairs Committee, the Trust will boost the construction sector and provide wealth management and an investment pipeline, among other things.

"Many international resources move through Trusts in order to promote the economic development of countries, something not done in Nicaragua due to the absence of regulations," stated the legislator to Latribuna.hn.

To come into force, the law must be published in La Gaceta, the official newspaper of Nicaragua.

More on this topic

New Rules for Trusts in Panama

April 2017

A bill passed by the Assembly establishes who can obtain a fiduciary license and how, and the procedures to be followed to merge or modify trusts.

See bill 412.

Panama: Changes to Trust Law

November 2012

The Superintendency of Banks in Panama is working on a bill to amend the Trusts Act governing the trust business in the country.

From an article by Manuel Castillo, the Superintendency of Banks of Panama:

Law 1 of January 5, 1984 which governs the trust business in the Republic of Panama, defines trust as a legal act whereby a person called settlor transfers assets to a for a person named as trustee to administer or dispose of them in favor of a trustee or beneficiary, who may be the settlor himself.

Trusts as Business Generators

November 2011

Although it is still awaiting regulation, Act 741 of the trust agreement will enable new ways of doing business in Nicaragua.

Act 741, which concerns trust agreements was approved by the Assembly on November 4, 2010, and published in the Official Gazette on January 19, 2011.

Professional Nicaraguans against the Law of Professional Association

April 2008

Different fields of professionals have entered a Resource of Unconstitutionality against Law 588, the "General law of Professional Associations and Professional Practice." The law was approved by the National Assemblyand passed on Jan. 14.

The plaintiffs are asking the judges of the Supreme Court of Justice to declare the law unconstitutional.

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