Hiring in Nicaragua
With both a Caribbean and Pacific Coast, extensive rainforests, glassy lakes and rumbling volcanoes, Nicaragua offers one of Central America and the world’s most fascinating landscapes. It’s famous for its coffee, wine and a war in the 1980s, with extensive US interference, that has had a lasting impact on Nicaragua’s infrastructure and culture.
Nicaragua is one of Latin America’s poorest and least developed nations, with up to 50% of Nicaraguans living under the poverty line. Agriculture is the dominant industry and trade in farmed goods with Venezuela contributes over $200 million to Nicaraguan GDP. Clothing, coffee and meat products make up other exports, and mining is an important emerging industry.
Hiring in Nicaragua is becoming more attractive, especially for US firms looking to capitalise on low wages, but the informal economy is still by far Nicaragua’s biggest employer. Many Nicaraguans have little to no access to employment laws and regulation, so it is advised to use an expert overseas payroll provider to ensure both ethical and legal pitfalls are avoided.
Why use TopSource Worldwide in Nicaragua?
We free your teams from the burden of managing payroll across borders, working diligently to ensure a seamless process across all activities.
We’ll manage the data flow from you to every local market and will return data to you in a readable format for each of your key teams, including payroll journals if needed.
Our services combine process excellence with a human-centric approach, and our top priority is always the care and compliance of your payroll — no matter where in the world you operate.
- Leverage our experience and ensure in-country Payroll compliance.
- Reduce processing and back office time.
- Align processes, reducing complexity and risk
- A single, centrally managed payroll system that delivers a fluid and consistent service to you and your employees.
- Flexibility of service — adapting to your needs, regardless of the market.
- The option to work with other providers you already have in place, if needed.
- Global HR data management and data tracking where required.
- Global payments support for both employees and authorities.
- A dedicated team and account manager so that you always have a central point of contact
What TopSource Worldwide provides in Nicaragua
- Simplicity – we provide one monthly consolidated invoice for the services provided inclusive of salaries, taxes, fees and employee expenses. This reduces banking costs and your finance teams time spent.
- One point of contact – a single Account manager looking after all your Payroll.
- Compliance – all funds payable to the employee are processed through payroll. You receive monthly evidence of taxation paid to the competent authorities in country.
- All services are provided by in-country experts that are professionally qualified in their respective fields.
- Electronic payslips for all employees.
- All Statutory filing completed by TopSource Worldwide.
We appreciate each situation and business is different. That is why we offer a consultative and bespoke solution to every client. We know one size does not ‘fit all’.
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