Nicaragua
With localised contracts, easy invoice management, and best-in-class compliance, you can grow your team in Nicaragua with confidence. Currently, you can hire and manage contractors in Nicaragua through Remote, but our EOR services are not yet live.
- Capital City
Managua
- Currency
Nicaraguan córdoba (C$, NIO)
- Languages
Spanish and English
- Population size
6,486,201
Facts & Stats
- Capital City
Managua
- Currency
Nicaraguan córdoba (C$, NIO)
- Languages
Spanish and English
- Population size
6,486,201
- Ease of doing business
Medium
- Cost of living index
N/A
- Payroll frequency
N/A
- VAT - standard rate
15%
- GDP - real growth rate
10.3% (2021)
Nicaragua is a Central American republic bordered by Honduras to the northwest, the Caribbean to the east, and Costa Rica to the south. It’s affectionately known as the land of volcanoes and lakes.
Outside a sizable tourism industry (roughly 6.4% of GDP) the local economy depends on agriculture, services, and remittances from Nicaraguans based in the United States, Costa Rica, and across Central America and the Carribbeans.
Nicaragua has a strong folk heritage, with music, cuisine, and architecture influenced by European, Caribbean, and Iberian culture.
Grow your team in Nicaragua with Remote
You can pay contractors now in Nicaragua with Remote in some currencies (talk to an expert now for full details).
Note that we are busy building our own entity in Nicaragua to provide you with the best possible employment solutions for your employees, but our employer of record service is not yet live in this country.
To employ in Nicaragua, companies must own a local legal entity in the country or work with a global employment solution. Developing the processes required to manage payroll, benefits, taxes, and onboarding in countries like Nicaragua can get complicated fast, especially without localised expertise.
If you're looking to start hiring in a country like this, partnering with a global employment solution like Remote makes it easy for your company to employ workers quickly, cost-effectively, and in full compliance with all local legislation.
In the countries where we do offer our EOR services, Remote takes on the responsibility and legal risks of international employment so you can focus on hiring great talent and growing your business.
Risks of misclassification
Nicaragua, like many other countries, treats self-employed individuals or contractors and full-time employees differently. Misclassification of contractors in Nicaragua may lead to fines and penalties for the offending company.
Employing in Nicaragua
Workers’ rights in Nicaragua are spelled out in several laws, such as:
The Nicaraguan Constitution of 1987
The Labour Code of 1996
The 1904 Civil Code of the Republic of Nicaragua
The Law of Equal Rights and Opportunities (i.e. Law 648)
— all of which guarantee equal pay for equal work, safe working environements, job stability, unemployment compensation, regular vacations and protections against discrimination based on age, gender, disability, religion, and race.
Common questions that could come up during the hiring process include the minimum wage, overtime rates, and guaranteed paid time off.
10 Public holidays
Competitive benefits package in Nicaragua
At Remote, we’re obsessed with helping you craft the best possible employee experience for your team. We are leading the way in practising “fair equity”, which means making sure employees everywhere have access to both the required and supplemental benefits they need to thrive (and that will allow you to attract the best local talent).
We are still busy building our own entity in Nicaragua, but our benefits packages for all countries are tailored to fulfil the local needs of your employees. Typically, our packages contain some or all of the following benefits:
Health Insurance
Vision Insurance
Mental Health Support
Pension or 401(K)
Life and Disability Insurance
Dental Insurance
Fair Pricing in Nicaragua
Contractor Management
Compliantly onboard and pay contractors
$29
per contractor/month
Top features
Only pay for contractors you actively work with
Work with contractors in 200+ countries
Create, edit, and sign tailored, localised contracts
Approve contractor invoices with one click or auto-pay
Transparent payments with complete visibility
Global Payroll
Consolidate your multi-country payroll
$50
per employee/month
Top features
Reduce costs by centralising payroll management
Ensure local compliance for every country
Direct support from in-house local payroll experts
Accurate, on-time, compliant payroll to level-up your employee experience
Tax and labour authority reporting handled for you
Top features
Guided onboarding and offboarding
Employee profile and document management
Time and attendance (time off and tracking)
Expense management and reimbursement
Employee self-serve on the platform and mobile app