Hire in Nicaragua

Nicaragua is located in Central America. It is famous for its landscape of lakes, volcanoes, and beaches. It has a population of over six million people and a mix of indigenous and Spanish cultures, resulting in a diverse range of music, food, language, and religion. Spanish is the most widely spoken language in the state. Managua, Nicaragua’s capital and largest city, has a population of over one million people. Trade, textiles, and agriculture account for nearly half of Nicaragua’s exports. Nicaragua’s top three export commodities are beef, coffee, and gold.

 

*Please note that the official currency is the currency of remuneration when employed through WorkMotion in Nicaragua.

Onboard your talent in Nicaragua

in 10 minutes

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Accelerated onboarding

Fast-track your talent onboarding while ensuring 100% compliance with local regulations.

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Guidance & payroll management

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Hire in Nicaragua through an

EOR

Easily onboard your remote talent in Nicaragua through our Employer of Record (EOR) solution. Our subsidiaries and network partners make this process fast and 100% compliant.

A quick overview of Nicaragua

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Cost of living index

$$ (84 out of 139)

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Currency

Nicaraguan Córdoba (C$, NIO)

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Payroll frequency

Bi-weekly/Monthly

Basic facts

India, officially the Republic of India, is the second-most populous country in the world. It covers an area of 3.29 million square kilometers. The country is surrounded by the Bay of Bengal in the east, the Arabian Sea in the west, and the Indian Ocean in the south. India occupies a major portion of the South Asian subcontinent. There are 28 states and eight Union territories in the country. The agricultural sector remains the country’s main employer. However, it is no longer the largest contributor to GDP. Major growth has been in trade, finance, and other services.

 

*Please note that the official currency is the currency of remuneration when employed through WorkMotion in India.

Capital

Managua

Official language/s

Spanish

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Population

6.7 million (2021 est.)

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VAT - standard rate

15%

The holidays mentioned below are valid for the year 2024.

January 1New Year’s Day
March 28Holy ThursdayMovable
March 29Good FridayMovable
May 1Labor Day
July 19Sandinista Revolution Day
September 14Battle of San Jacinto
September 15Independence Day
December 8Feast of the Immaculate Conception
December 25Christmas Day

The approximate time for sharing the contract with an employee in India is 2 business days assuming no special requests or changes to our standard employment contract. Any such requests or changes would need to undergo internal and external review, directly leading to a time delay.

NOTE: This number is subject to change and is only an estimation of the Contract Sharing Time. The estimated Contract Sharing Time begins from the moment that WorkMotion has received all required information from both the client and the employee.

  • Remote work is not legally defined in India, but the Ministry of Labor and Employment made its first attempt to legally define “working-from-home” by issuing a draft standing order in January 2020 for organizations with 300 or more employees.
  • It is not mandatory for employers to purchase accident insurance, but employers must provide compensation to their employees in cases of injuries, accidents, or death.

  • WorkMotion offers various health insurance benefits to employees, including their family members.

​​Social security contributions are levied on salaries at a rate of 21.5% for employers and 7% for employees. These rates are increased annually.

Common employee benefits include:

  • Pensions
  • Supplementary health insurance
  • Life and disability insurance
  • Discounts to company stores
  • Transportation allowances
  • Meal allowances
Benefits Employer Contributions Employee Contributions
Pension and Disability 12.5% (up to 50 employees) or 13.5% (more than 50 employees) 4.75%
Health Insurance 6% 2.25%
Accident Insurance 1.5%
War Victims 1.5%
Total 21.5% or 22.5% 7%

Working Hours

 

The calendar day for work purposes is between six in the morning and eight at night. The ordinary day of effective daytime work must not exceed eight hours a day or exceed a total of 48 hours a week.

Overtime

 

Work performed outside of normal working hours is considered extraordinary hours, but work performed to correct errors attributable to the worker is not. The number of overtime hours may not exceed three hours per day or nine hours per week. Overtime is paid 100% more than what is stipulated for the respective normal day.

 

Probation Period

In contracts for an indefinite period, the parties may agree on a trial period of no more than 30 days during which any of them may terminate the employment relationship without any liability for them.

Termination Notice Period

In contracts for an indefinite period, the parties may agree on a trial period of no more than 30 days during which any of them may terminate the employment relationship without any liability to them. 

When the contract is for an indefinite period, the worker may terminate it by notifying the employer in writing 15 days in advance.

Working Hours

 

The calendar day for work purposes is between six in the morning and eight at night. The ordinary day of effective daytime work must not exceed eight hours a day or exceed a total of 48 hours a week.

Overtime

 

Work performed outside of normal working hours is considered extraordinary hours, but work performed to correct errors attributable to the worker is not. The number of overtime hours may not exceed three hours per day or nine hours per week. Overtime is paid 100% more than what is stipulated for the respective normal day.

 

Probation Period

In contracts for an indefinite period, the parties may agree on a trial period of no more than 30 days during which any of them may terminate the employment relationship without any liability for them.

Termination Notice Period

In contracts for an indefinite period, the parties may agree on a trial period of no more than 30 days during which any of them may terminate the employment relationship without any liability to them. 

When the contract is for an indefinite period, the worker may terminate it by notifying the employer in writing 15 days in advance.

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​​Social security contributions are levied on salaries at a rate of 21.5% for employers and 7% for employees. These rates are increased annually.

Common employee benefits include:

  • Pensions
  • Supplementary health insurance
  • Life and disability insurance
  • Discounts to company stores
  • Transportation allowances
  • Meal allowances
Benefits Employer Contributions Employee Contributions
Pension and Disability 12.5% (up to 50 employees) or 13.5% (more than 50 employees) 4.75%
Health Insurance 6% 2.25%
Accident Insurance 1.5%
War Victims 1.5%
Total 21.5% or 22.5% 7%

Benefits

Employer Contribution

Maximum Base

Book a free demo to access this information

Book a free demo to access this information

Book a free demo to access this information

Book a free demo to access this information

Book a free demo to access this information

Book a free demo to access this information