Kathmandu, January 14
The government of Nepal has recently revised its visa rules concerning foreign investors who are involved in various businesses in Nepal.
According to the Foreign Investment and Technology Transfer Regulations, here are some highlights of the new provisions:
- Two investors (or their representatives) can get business visas once they express a commitment to invest Rs 100 million or more and invest 25 per cent of the commitment.
- Family members of these two representatives will also get business visas.
- A residential visa will be granted to a foreign investor investing more than USD 1 million or to their authorised representatives, and their family members. The residential visa will be valid as long as the 50 per cent of the investment remains in Nepal.
- Regarding visa facilities for the investors whose investments had already been approved before the new Foreign Investment and Technology Transfer Act came into effect, the minimum amount specified while approving the investment shall be considered the total investment amount.
- Investors should submit their applications to the concerned agency that approves their foreign investment for visas also.