Regulatory Alerts2011-06-01 | CD-SIBOIF-679-1-JUN1-2011Added · Updated
Norm on the Requirements for the Establishment of General Warehouses and Branches of Foreign General Warehouses
This resolution establishes the specific requirements, procedures, and documentation needed to obtain authorization for the constitution of General Warehouses of Deposit (AGD) and the establishment of branches of foreign AGDs in Nicaragua. It mandates detailed feasibility studies, proof of solvency and integrity for shareholders holding 5% or more, and strict operational standards including minimum paid-in capital and compliance with anti-money laundering regulations. The document outlines the authorization timeline, grounds for denial, and the final steps required to commence operations, including the publication of the authorization in the Official Gazette.