Hire your remote team in Nicaragua

Rivermate is a global employment solutions company that provides Employer of Record services in Nicaragua.

As an employer of record, we help you hire employees and run payroll services in Nicaragua, allowing you to avoid the necessity of first establishing a branch office or subsidiary in Nicaragua.

It is not necessary to establish an entity in order to hire an employee. We can hire your employee in any country with a few mouse clicks. Using our Employer of Record solution, you can have full compliance, benefits, and automated payments.

If you wish to hire a remote team in Nicaragua or individually hire remote employees in Nicaragua, Rivermate’s global employer of record services will make sure that the process will be as seamless as possible for you.

Send us a message so we can talk about how Rivermate’s Employer of Record Nicaragua services can best help your company!

Nicaragua's cost of living is $625, which is 1.49 times less expensive than the global average. Nicaragua ranked 137th out of 197 countries in terms of cost of living and 133rd in terms of quality of life.

In Nicaragua, the average after-tax salary is $391, which is enough to cover living expenses for 0.6 months.

There is a lot of potential in the country to consider. Nicaragua's borders contain vital economic resources. It has an ecologically diverse geography, for example, which makes it an excellent tourist destination. It has a thriving export industry that focuses on a variety of profitable commodities such as coffee, beef, sugar, and peanuts.

As previously stated, the country has a young labor force that supports the large manufacturing and service sectors. The ITA has recommended better laws and better implementation of those laws under a competent government to allow Nicaragua to thrive.

Employee discrimination based on religion, political beliefs, race, or gender is prohibited under Nicaraguan law. The law also requires the freedom to work and equal pay for equal work.

All Nicaraguan workers have the right to join labor unions.

You must provide Nicaraguan employees with employment contracts that are either fixed-term or indefinite-term. In the latter case, the probationary period cannot exceed one month, after which both parties may terminate the contract without penalty.

The contracts must be written in the employee's native language and include all monetary amounts in NIO.

For day jobs, you can work up to 8 hours per day and 48 hours per week. Night shifts are limited to 42 hours per week. If the shifts are mixed, the weekly limit is 45 hours. Overtime is limited to 3 hours per day and 9 hours per week, with pay doubled.

Nicaragua is currently one of the poorest countries in the Americas. In 2020, the World Bank's Ease of Doing Business ranking was 142 out of 189. In 2021, Nicaragua's economy has a score of 56.3 for economic freedom. The score fell as a result of tighter trade regulations and the economy's continued lack of freedom.

The country's GDP (adjusted for purchasing power parity) is expected to be US $36 billion in 2020. The GDP per capita (adjusted for purchasing power parity) is only $5,500, ranking the country 142 in the world. Nicaragua has been in recession for many years, which has been exacerbated by political unrest, natural disasters, and the pandemic. The World Bank, on the other hand, believes that GDP will rise by 0.9% in 2021 and begin to recover. The International Trade Administration, on the other hand, predicts an economic contraction as political and democratic processes are consistently undermined. Nonetheless, Nicaragua remains one of Latin America's poorest and least developed countries.

Nicaragua has no national minimum wage. Instead, the country's compensation rules provide a minimum salary that applies to all nine economic sectors. Workers in the agricultural industry, for example, must earn at least 4,414.91 Nicaraguan córdobas per month as of March 1st, 2021, while people in the financial sector must earn at least 9,880.17 Nicaraguan córdobas per month.