Tuesday 28 September 2021

Nicaragua Simplifies Procedures for Free Zones

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José Adán Aguerri

TODAY NICARAGUA (Managua) A simpler scheme for importing materials is one of the new features included in the new regulations announced to facilitate procedures for free trade zone (zona franca in Spanish) companies.

The leaders of the Superior Council of Private Enterprise (Consejo Superior de la Empresa Privada – 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.

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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.”

Article originally appeared on Today Nicaragua and is republished here with permission.

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Article originally appeared on Today Nicaragua and is republished here with permission.

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