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Beneficial Holdings, Inc.: Beneficial Holdings, Inc. Announces New Subsidiary Approved to Conduct Business in Nicaragua


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Published in Business and Finance on Tuesday, July 14th 2009 at 5:59 GMT, Last Modified on 2009-07-14 05:59:45 by Market Wire   Print publication without navigation


LAS VEGAS, NV--(Marketwire - July 14, 2009) - Beneficial Holdings, Inc. (PINKSHEETS: [ BFHJ ]) today announced that it has formed a new subsidiary in Nicaragua and received all governmental permits to legally operate within Nicaragua. The subsidiary, Grupo Beneficial, Sociedad Anonima, will manage and operate the company's properties and investments in Nicaragua.

Grupo Beneficial, Sociedad Anonima, received its cedula-RUC from the Ministerio de Haciendo y Credito Publico on June 23, 2009. Its Constitution was filed with the Registro Publico Mercantil. Thereafter, the company received a Certificado de Inscripcion en el Registro Unico del Contribuyente from the Dirrecion General de Ingresos. This process created the subsidiary in Nicaragua.

Grupo Beneficial received its Constancia de Responsable Recaudador de Impuestos Indirectos from the Ministerio de Haciendo y Credito Publico Direccion General de Ingresos. The Constancia allows the subsidiary company to collect sales tax known as el Impuesto al Valor Agregado and to perform monetary transactions.

Finally, Grupo Beneficial received its Constancia de Matricula from the City of Managua on June 29, 2009. This allows the company to operate in Managua.

The completion and receipt of the formal approved documents provide the company with legal ability to operate and to move forward with its business plans and conduct business in Nicaragua and the City of Managua.

Beneficial Holdings, Inc. and Grupo Beneficial, S.A. would like to thank the Government of Nicaragua and the City of Managua for its pro business attitude along with the assistance of their knowledgeable, and courteous administrators who play an important role in moving the Central American economy forward. The positive economic advancement and energetic work force were significant factors that Beneficial Holdings considered when choosing to establish operations and to invest in Nicaragua.

ABOUT BENEFICIAL HOLDINGS, INC.:

Beneficial Holdings Inc. is a Nevada corporation in operation since 1990. The company is in the process of purchasing and signing management agreements with various gaming and casino facilities in Nicaragua, Honduras, El Salvador, and Guatemala. In addition, the Company is entertaining several joint venture opportunities with established companies to operate online casinos for non-United States residents that will comply with United States and International law.


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