Registration of the Final Beneficiary and its due compliance in the Nicaraguan Commercial Companies

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Carrying out the registration of Final Beneficiary is an obligation that falls on all commercial companies registered in Nicaragua. As of August 25, 2020, through Law number 1035 of August 25, 2020: “Reform Law to Law No. 698, General Law of Public Registries and the Commercial Code of the Republic of Nicaragua” created the first obligations to register the final beneficiary of all Nicaraguan companies.

In addition to the publication of Law number 1035, the National Directorate of Registries (DNR) issued subsequent Regulations and Circulars through which the entire process to register the Final Beneficiary was established and regulated, part of these instruments are the Operating Regulations of the Registry of Final Beneficiary of Commercial Companies (hereinafter NFRBF), Circular number 008-2021DNR and 009-2021DNR.

n order to comply with this obligation, through Circular number 008-2021DNR, the terms in which the commercial companies had to comply with the registration of their Final Beneficiary were determined, according to their corporate name, the companies whose name begins with the letters of the alphabet ranging from A to H corresponded to the first cycle that ended on October 18, 2021 and the companies whose name begins with the letters from I to Z, had to register in the second cycle, no later than April 18, 2022. This is how, to date, all companies should have their final beneficiary registered.

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