By: Ana Carolina Barquero
On February 20, 2023, Presidential Decree 01-2023 Regulation to Law No. 1115 General Law of Regulation and Control of Non-Profit Organizations of Nicaragua, which establishes the regulatory legal provisions, entered into force as of its publication in La Gaceta number 31, Presidential Decree 01-2023 Regulation to Law No. 1115 General Law of Regulation and Control of Non-Profit Organizations of the Republic of Nicaragua.
Said Decree ratifies the Ministry of the Interior through the General Directorate of Registration and Control of Non-Profit Organizations, as the competent authority for the Law 1115 application, and in addition to the powers contained in the law, grants it the following:
Coordinates and directs the registration, financial analysis, supervision, follow-up, and sanction of NPOs and Legal Counsel; Provides training and/or inductions to the NPOs; Informs the Minister when there is a presumption of facts or criminal acts; Issues legal opinions on the granting and cancellation of legal personality to NPOs; Proposes resolutions and circulars in order to guarantee the correct application of the provisions contained in the law; and Proposes updating of fees for services and fines in accordance with the law.
It also establishes the granting legal personality and registration of the National NPO process, and those of other nationalities indicating requirements and procedures in both cases; as well as establishing that a web portal will be available for NPOs to register previous reports of any transfer of funds or material goods to be received, as well as the Financial Statements and any other information, and they must previously present the Financial Statements in physical format to the Directorate of Registration and Control of NPOs.
The Regulation also establishes corrective measures, infractions as well as administrative procedures for sanctions and appeals.
For further information on this and other legal matters, please contact LatinAlliance Nicaragua, Attorneys and Notaries, at the following email address: abarquero@latinalliance.co