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The below posts serve to inform our clients of the various issues relating to the operations of Gandhi & Associates. It also serves as a platform for two-way engagement and conversation. Please feel free to leave us your comments.

Notice for all Foreign Nationals working in Nepal without work permit

  04 Oct 2014

Department of Labor has recently published the notice regarding the exemption of any fines or punishment, provided that the foreign national working in Nepal without any work permit obtain their work permit by 10th April 2014.

For more information, please contact us.
Source: http://www.dol.gov.np/index-en.html

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Nepal Rastra Bank Compliance for Foreign Companies

  31 Jan 2014

Any Foreign Investor investing in Nepal either through Joint Venture or 100% foreign investment is required to record their equity investment (including loan) with Nepal Rastra Bank (Foreign Exchange Management Department).

Please find the detailed procedure to record their equity investment with Nepal Rastra Bank:

STEP 1: The concerned Company must obtain Circular 429 (a sample of which is attached herewith) from their respective Bank.

STEP 2: Along with Circular 429, you will need to submit following additional documents to the Nepal Rastra Bank.

  • Application to the Nepal Rastra Bank.
  • Industry Registration Certificate
  • Company Incorporation Certificate including MOA and AOA
  • Details of Equity Capital so invested
  • Circular No 429
  • Decision of Board of Directors to record the equity investment with Nepal Rastra Bank
  • Power of Attorney to submit the application on behalf of the Company.

STEP 3: After submission of the documents, Nepal Rastra Bank shall issue the certificate of record. The whole process shall take roughly around 7 days.

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Contact Details

  •   15 Nagarjun Galli, Sahayog Marg
         Anamnagar-32, KTM, Nepal
  •   +977-1-4102880 / 9851035844
  •   +977-1-4102792
  •   kathmandu@lawgandhi.com

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