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Tax Free Zone Nicaragua
In November 1991, a new Free Zone Law was enacted, creating the Corporation of Free Zones to promote the development of this important sector.
The main Free Zone in Nicaragua is Las Mercedes Industrial Free Zone, located next to the International Airport, offers 722,813 square feet of industrial space in a modern 114 acres industrial park with the lowest lease rates in Central America. The Las Mercedes Free Zone is state owned.
The second biggest Free Zone in Nicaragua is the Saratoga Free Zone that is slightly smaller than Las Mercedes, but is expected to employ 13,000 workers. The Saratoga free zone is a private free zone.
The Law offers the following incentives:
- Total tax exemption from: income tax, general sales tax, export tax, municipal tax, import tax, and other fiscal exemptions are granted.
- Allows any company to sell products and services within the national territory.
- Allows subcontracting.
- 100% repatriation of capital and profits.
- In Nicaragua, there is no quantitative restriction for textile clothing export ( there is no quota for any garment category ).