Law 306 and Tourism Related Businesses in Nicaragua

In an effort to promote tourism in Nicaragua, the government has decided to aggressively pursue tourism related businesses. In doing that, they passed Law 306. Never has a law been so aggressive in seeking out new businesses. The law provides incentives for businesses to move to Nicaragua.

The idea is the more tourism related businesses there are in Nicaragua, the more tourism the country can handle. The country is planning to see an even larger surge in tourism, which is why they are focusing on bringing the businesses in. They know they are going to need the support for tourism, so they have come up with a plan.

Law 306 is beneficial to businesses in many ways. It changes what it means to do tourism related business in Nicaragua. First, Law 306 helps tourism related businesses in regards to income taxes.

Businesses that want to make money but do not want to be bogged down with taxes can now finally have it both ways. Under Law 306, tourism related businesses will not have to pay income taxes for up to ten years. A lot of money can be made in ten years. To not be taxed on it is an amazing incentive.

Businesses cannot help but see dollar signs when they think about not paying income taxes. For many businesses, income taxes negatively affect the business. It is hard to make a great amount of money when income taxes are so high. With this law, businesses do not have to worry about that for quite some time.
In addition, real estate is not taxed for up to ten years.

Businesses can find a location and they will not have to worry about paying taxes on that location for quite some time. Again, this gives businesses a chance to raise capital before they have to start paying any taxes.

They are able to find a great location and not worry about taxes for years. Businesses are able to get established before they have to pay taxes. That means they will not pay taxes during the initial years when they are still trying to win business.

Also, businesses are able to get the supplies they need for their business without paying taxes. They can either bring the supplies in or they can buy them in Nicaragua. No matter what they choose, they will not have to pay taxes to Nicaragua for those supplies. Supplies are not limited to cash registers and items such as that. They also include furniture and other office items.
Businesses that would normally not have the capital to buy all the supplies they need can purchase those supplies under this law. Businesses that are just starting out do not have to worry as much about what is in their bank account.

Because of the growing tourism industry in Nicaragua, this law is very important. Many people can open up a business in Nicaragua and use this law to help with their taxes. That is very important to the tourism industry and to business owners.

Nicaragua is working hard to be a world leader in tourism. With laws such as this one, they are well on their way. They will continue to grow as the government pushes for new businesses to come to Nicaragua.

The government is taking a proactive approach to getting new tourism related businesses into Nicaragua, and the approach is going to help them greatly. They will be able to get a large number of businesses and they will greatly benefit from that. In the end, the government will make money and the people of the country will benefit a great deal.

Alex Bezborodko is the owner of the website www.SunnyComfort.com, featuring international properties direct from the developers, where you can find more information about our current Nicaragua Real Estate Projects.