Nicaragua: Procedures for Free Zones Simplified

A simpler scheme for importing materials is one of the new features included in the new regulations announced to facilitate procedures for free zone companies.

Thursday, January 26, 2017

The leaders of the Superior Council of Private Enterprise (COSEP) announced that the new technical circular for free zone companies will be in effect from February 1, and includes, among other things, adjustments to the time and costs incurred by companies when transporting goods.

"... According to the goal setting worksheet to be implemented in the free zones, provided by the Cosep, there will be a saving of 100% in time when moving goods from warehouses to free zones, and an extended schedule has been agreed, until 10:00 pm, at customs points at the request of companies.

Jose Adan Aguerri told Elnuevodiario.com.ni that "...Also agreed is a scheme of accumulated statements for exports with expedited authorization from the General Directorate of Customs (DGA). Another achievement is a scheme for importing materials, equipment and accessories, that do not exceed a specific weight and volume, so they can be entered into the system through the airport accompanied by a passenger who is an employee of the company."

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Nicaragua: Changes in Charges for Customs Inspections

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If the proposed amendment to the Scanner Act is approved, the fee to be charged will be $70 on merchandise worth over $2,000 and $20 on goods ranging in value from $500 to $2000.

In addition, there will be a fee of $25 on freight from the free zone declared in air customs offices and $30 of free zone goods declared in land and maritime customs offices.

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Draft Law on Exports Ready

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The Nicaraguan National Assembly could be receiving a draft Law on the Promotion of Exports next week.

This was announced by Jose Adan Aguirre, president of the Superior Council for Private Enterprise of COSEP, who noted that the project aims to streamline procedures for exports and reduce trade barriers on all products the country exports.

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