Expat Community > Nicaragua

AckersinNica
Joined 2015
Posts: 16

Running a small business in Nica/taxes

8 years ago

Thanks in advance for any suggestions on the subject.

My wife and I are opening a small b&b hotel/non-profit on the coast and are looking into the Tourist Law 306 and if it's worth it to apply for that.

Main question is for anyone who has done this before---how strict is the government on your paperwork? etc. I've talked to people who said you have to have 5 copies of each receipt for each income, paying taxes on a WEEKLY basis, etc.

I guess if anyone has experience with the 306 law we're wondering if that creates more headaches with paperwork, etc. than if we don't apply for those benefits.

Property is bought and we start construction in November, I'm fluent in Spanish so would gladly accept contacts that might be able to help but only speak Spanish.

Thanks for reading, look forward to any advice the community may provide.

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