Kathmandu; Foreign investors willing to make small-size investment in Nepal won’t have to receive approval from the Central Bank now onwards. However, approval from the central bank is deemed necessary for accepting foreign loan.
Releasing the Nepal Rastra Bank Foreign Investment and Foreign Loan Management Regulations, 2021 on Tuesday, the Nepal Rasta Bank (NRB) stated that its prior approval was not needed to remit or to send money from the prospective foreign investors for the cost incurred for feasibility study and pre-operation costs of the industries and firms to be established in Nepal.
However, the central bank’s approval is required to send or bring in money in Nepal as the foreign investment after the change in the share of such firms.
Likewise, the companies should submit documents for recording the foreign investment as per the regulations within six months. And, recording of the foreign investment made prior to the issuance of the Regulations should be done within a year, the central bank said. RSS