November 1991, a new Free Zone Law was enacted, creating the Corporation
of Free Zones to promote the development of this important sector:
- Las Mercedes Industrial Free Zone, located next to the International
Airport, offers 722,813 square feet of industrial space in a modern 114 acres industrial
park with the lowest lease rates in Central America.
- In 1997, five new private free zones are expected to start operations.
They will generate around 21,000 jobs and will have an available area of 52,370 square
- The Law offers the following incentives:
- Total tax exemption from: income tax, general sales tax, export tax,
municipal tax, import tax, and other fiscal exemptions are granted.
- Allows any company to sell products and services within the national
- Allows subcontracting.
- 100% repatriation of capital and profits.
- In Nicaragua, there is no quantitative restriction for textile clothing
export ( there is no quota for any garment category ).
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