One-stop investment shop.

ONE-STOP INVESTMENT SHOP. The Nicaraguan Government's one stop shop, the "Ventanilla Unica de Inversiones" (VUI), inaugurated by the Ministry of Development, Industry and Commerce (MIFIC) offers a one-stop shop for that appears to be speeding up the licensing process for new businesses. The Inter-American Development Bank is funding the project for a three-year trial period. Although operating on a shoestring and still facing many problems, the service promises to make it easier to open a business in Nicaragua. The U.S. Embassy in Nicaragua provides details:

Previously, an investor seeking to open a business in Nicaragua might take six months to obtain the necessary licenses for various national and local government agencies. With the Ventanilla Unica, the GON hopes to shorten the process to fifteen days. The Ventanilla Unica occupies a small space within MIFIC, bringing together representatives from MIFIC, the Supreme Court, the Office of the Mayor of Managua, and the Directorate General of Taxes in one place;

In addition to sparing investors the trouble of having to travel around town getting necessary licenses and information, the Ventanilla Unica also helps the investor contact any other government agency might be involved in the investor's case. According to the General Manager, Lorena Cesar, the Ventanilla Unica has served hundreds of interested parties, of which 77 are registered clients. Though currently a low-tech operation, the office is investigating the possibility of enabling applicants to register for licenses online;

The Inter-American Development Bank funds 80% of the Ventanilla Unica, with the remaining costs coming out of the participating Nicaraguan agencies' budgets. IDB funding will continue for three years. At that point, a committee made up of representatives from the participating agencies, along with representatives from the American Chamber of Commerce of Nicaragua and the business association umbrella organizations COSEP, will decide whether the office will continue, either as a private or a public service;

One client has reported that the service is a great improvement over the way licensing has been handled previously in Nicaragua. On the other hand, a U.S. air cargo company that has used the Ventanilla Unica and similar services in Costa Rica, Honduras and Panama commented that the licensing procedures are still very costly and time consuming in Nicaragua. The Ventanilla Unica has been open for less than one year and many problems are still being worked out. However, its staff seems determined to provide good customer service. While clients should not expect to solve all of the issues associated with starting a business in Nicaragua, the Ventanilla Unica is a positive step in the right direction.