The Financial Investment Companies Law was approved on April 14th, 2015 by the National Assembly.
This law defines financial investment companies as entities specialized in conducting financial transactions to promote the creation or expansion of companies, or project financing for various productive, commercial and infrastructure activities in Nicaragua.
This new law establishes the requirements to allow the entry of foreign capital, which may be invested in the different activities of the national economy, such as the productive and infrastructure sectors. In accordance with said law, the initial share capital shall be at least eight hundred million Córdobas (C$800,000,000.00) or twenty nine million five hundred and fifty three thousand and ten dollars with seventy one cents (USD 29,553,010.71) and the board shall be comprised of a minimum of five directors.
The Superintendence of Banks and other Financial Institutions will be the authority in charge of authorizing, supervising, and controlling the constitution and functioning of the financial investment companies in accordance with the law.