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Foreign companies operating in Nepal without local regulatory oversight can now send their profits abroad more easily, thanks to a new rule from Nepal Rastra Bank (NRB).
Key Points:
- Self-Declaration: These companies can repatriate dividends based on a self-declaration process.
- Simplified Regulations: NRB has simplified foreign exchange regulations to make this possible.
- Approval Required: Companies with local regulatory oversight still need approval from their respective regulatory bodies.
- Transparency: All transactions must be disclosed and approved by NRB before repatriating dividends.
This change impacts various foreign entities in Nepal, including banks, financial institutions, insurance companies, and those in sectors other than hydropower.
This streamlined process is expected to make it easier for foreign businesses to operate in Nepal, encouraging more investment in the country.