Home » Government of Nicaragua cancels legal personhood and confiscates assets of Incae

Government of Nicaragua cancels legal personhood and confiscates assets of Incae

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This Monday, the Ministry of the Interior of Nicaragua canceled the legal status and confiscated the assets of the Central American Institute of Business Administration (Incae), for the alleged failure to comply with obligations under the law, according to the publication of Ministerial Agreement 106-2023-OSFL published in The GazetteOfficial Gazette No. 172.

Among the arguments for the suspension are the non-presentation of financial statements for 2020, 2021 and 2022, in addition to the fact that “inconsistencies were detected” in the financial statements for the period 2015-2019 and the obstruction of the control and surveillance of the Registration and Control Directorate. of Non-Profit Organizations of the Ministry of the Interior.

Incae was founded in 1964, at the initiative of the Central American governments and business community, with the support of US President John F. Kennedy and the Harvard Business School. The headquarters is located in Managua and has a campus located in Alajuela, Costa Rica.

The Ministerial Agreement, issued on September 22 and published this Monday, also indicates that the legal requirements established for receiving donations were not met and they were not registered as foreign agents.


He adds that “by not complying with their obligations, they did not promote transparency policies in the administration of the funds, leaving the execution of their projects unknown and whether they were in accordance with their objectives and purposes, for which they were granted legal personality and registration.”

Regarding the destination of movable and immovable property, the Ministerial Agreement, signed by Amelia Coronel Kinloch, Minister of the Interior, indicates that it will correspond to the Attorney General’s Office “carry out the immediate transfer of these to the name of the State of Nicaraguanews CR and DL of El Salbador

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