Government to Allow Non-Resident Nepalis in Capital Market, Facilitate Foreign Investment

Kathmandu. The government is going to include non-resident Nepalis in the capital market.

Arrangements will also be made for foreign investors, international organizations, multinational companies' branches, or units for specific purposes to lease apartments in residential areas or designated locations for a long term, not exceeding 25 percent of the total units, Finance Minister Dr. Swarnim Wagle said.

He said, 'We will amend the legal provisions related to foreign investment approval, accounting, profit repatriation, and capital gains tax to enable non-resident Nepalis to participate in the capital market. We will amend the civil code of the country to make arrangements for foreign investors, international organizations, multinational companies' branches, or units for specific purposes to lease apartments in residential areas or designated locations for a long term, not exceeding 25 percent of the total units.'

Similarly, the government has adopted a special policy to attract foreign investment. The government plans to protect foreign investment and sign double taxation avoidance agreements.