Nicaragua
Make employment in Nicaragua easy. Let us handle payroll, benefits, taxes, compliance, and even stock options for your team in Nicaragua, all in one easy-to-use platform.
- 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
Want to employ workers in Nicaragua? Companies hiring in Nicaragua are typically required to either own a local legal entity or work with a global employment platform like Remote that can legally provide employment services in the country. Remote can employ team members in Nicaragua and keep you compliant.
Remote can hire, onboard, and pay your Nicaragua team so you don't have to set up local HR services in the region. Remote also makes it easy to pay contractors in Nicaragua. Sign up now to get started or for more details.
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
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Effortless HR in Nicaragua: Take the Tour
Competitive benefits package in Nicaragua
At Remote, we’re passionate about helping you craft the best possible employee experience for your team. We are leading the way in developing globally competitive benefits programs. This means making sure employees everywhere have access to both the required and supplemental benefits they need to thrive, and your company has the localised expertise needed to attract and keep the best global talent.
Our benefits packages in Nicaragua are tailored to fulfil the local needs of 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
Employer of Record
Hire and pay your global team
Starting at £479/month
paid annually, or £559/month paid monthly
Top features
Satisfaction guaranteed
No deposits or hidden fees
Zero onboarding or offboarding fees
Compliant equity incentives support including withholding and reporting
Built-in security and compliance
Fast onboarding (average 2-3 days)
Flexible, localised benefits
Contractor Management
Compliantly onboard and pay contractors
£23
per contractor/month
Top features
Only pay for contractors you actively work with
Work with contractors in 200+ countries and territories
Create, edit, and sign tailored, localised contracts
Approve contractor invoices with one click or auto-pay
Transparent payments with complete visibility
Payroll
Consolidate your multi-country payroll
£24
per employee/month
Top features
Simplify: Comprehensive platform that integrates all payroll functions
Support: Personalised assistance with a dedicated team and specialists
Accuracy: Test runs and parallel pay runs before implementation
Compliance: Adhere to local labour laws in every country
Timeliness: Accurate and on-time payroll with labour authority reporting handled
Experience: Seamless payroll with easy access to payslips and expenses
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