If you want to obtain Nepali Business Visa then here is what you need to know before applying for the visa.
Getting a Nepali Visa is not tough as you think, we have come up with a list of frequently asked questions to make your application submission process easier.
The Foreign Investment and Technology Transfer Act of 2019 includes provisions for granting business visas for the reasons listed below.
Procedure to Obtain Nepali Business Visa
The Foreign Investment and Technology Transfer Act of 2019 includes provisions for granting business visas for the reasons listed below.
Six-month preliminary visa
Section 30 of the Foreign Investment and Technology Transfer Act, 2019 states that a non-tourist visa for a period not exceeding six months will be granted to a foreign citizen visiting Nepal to conduct a study, research, or survey for foreign investment.
To do so, the company where the investment will be made should estimate how much money will be invested and how production will be carried out; additionally, a project report should be written and an application for investment approval should be submitted. The Department of Industry will make a recommendation for visa issuance following the submission of an application.
Who can apply for a Nepali business visa?
Investors who wish to invest, as well as the other three types of individuals, are eligible for a visa under Section 30 of the Foreign Investment and Technology Transfer Act of 2019.
1. A foreign investor will be granted a business visa.
2. Business Investor’s authorized representative
3. Foreign investor’s family members “family member” means the foreign investor’s husband or wife, father, mother, and minor son or daughter.
The Business Visa Application Process
Step 1: A foreigner who wishes to invest prepares a project report for a period of six months, after which he or she is recommended for a business visa.
Step 2: The Department of Industry reviews the previous six months’ progress and issues a visa in the second phase. The immigration officer will then conduct an examination in the relevant sector and issue a one-year visa in the second step.
Step 3: A 5-year visa is granted if the foreign investor has made a full-fledged investment and the industry is operational.
Foreign nationals who come to Nepal to do business buy and sell industrial and commercial goods, as well as consumer durables. A business visa requires the following documents.
- Two Application form attached Photograph
- Company Registration Document
- Tax Card PAN or VAT certificate
- If foreigner is investing on share on Nepali Industry, he/she has to present share lagat (Statement of Share)
- Copy of Industry Registration
- Obtain approval from the relevant Ministry and department.
- The applicant is required to present a valid travel document. A passport is a valid travel document. Your passport must be valid for at least one year and contain at least two blank pages.
- Investors’ specific information, such as financial sources, credentials, and experiences.
Visa Extension Requires Documentation
If the business visa is granted for less than five years, it can be extended for up to five years under the following conditions:
- Two application forms and a photograph are attached.
- A tax clearance paper is issued by the Inland Revenue Office.
- A recommendation from the relevant Ministry.
- Photocopies of the passport and final visa.
- The audit report or the gross sales/turnover from business operations.
FAQs for Obtaining Nepali Business Visa
These are the faqs listed below on how to obtain Nepali Business Visa for entrepreneurs around the globe.
1. What laws govern the granting of business visas in Nepal?
The Immigration Act of 1992, the Foreign Investment and Technology Transfer Act of 2019, and the Immigration Rules of 1994 are all examples of immigration laws.
2. Is a valid visa required for a foreigner to enter Nepal?
No foreigner may enter or remain in Nepal without a valid passport and visa, according to Section 3 of the Immigration Act.
There are wide ranges of visas available under Immigration Rules, along with:
- Official Visa
- Tourist Visa
- Study Visa
- Non-tourist Visa
- Diplomatic Visa
- Non-residential Visa
- Residential Visa.
- Business Visa
- Transit Visa
3. Who qualifies for a business visa?
- Foreigners who have been granted permission to invest in any trade or industry in Nepal, as well as authorized representatives of such a trade or business.
- Foreigners who have been granted permission to invest in Nepal for the purpose of conducting export trade.
- Foreign visitors from other countries who buy and sell Nepali-made goods or place export orders.
4. Which government agency is in charge of issuing, regulating, and updating business visas?
The Department of Immigration (DOI) is in charge of issuing, regulating, and renewing business visas.
5. What documentation is needed to apply for a business visa?
- A letter of intent from the Department of Industry or another Nepali government line agency;
- A accreditation of industry certification for the company
- Biodata- first-time applicant
- A letter of endorsement for foreign investment, and
- Proof of foreign investment
- A copy of the working permit applicant’s passport;
- A copy of the firm’s tax file number;
- Certified copies of the certificate of incorporation, the Memorandum of Association, and the Articles of Association
- A certified copy of the operation of a bank account in the name of the company.
- Evidence of the industry’s operation (audit report with a balance sheet and progress report, extension approval),
- The Office of the Company Registrar maintains a shareholder register book.
- Industry Monitoring and Supervision report from the DOI or line agency, and
- Company Progress Report
NOTE: It should be noted that Indian nationals will not be required to obtain a business visa in order to work in Nepal.
6. How much does the government charge for a business visa?
The capital required to obtain a business visa varies.
Note: If a business visa applicant has invested more than NPR. 10 million, he or she must submit ‘Share Specifics’ among other visa-processing documents.
8. In Nepal, how long does it take to obtain a business visa?
The recommendation letter from the DOI or the relevant line agency usually takes 3 to 4 weeks, and the business visa from the Immigration Department takes about 5 working days.
NOTE: The above time frame is only a guideline, and it may take longer than expected.
9. What is the duration of a business visa?
A business visa is valid for at least one month and can be renewed for another five (5) years. In most cases, the Immigration Department issues a one-year business visa that must be renewed annually.
Conclusion
Corporate Lawyer Nepal has provided consulting services related to foreign investment as well as legal assistance in obtaining business visas since its inception in 2012.
Prime Legal’s expert lawyers will guide you through the entire process of obtaining a business visa and foreign investment, from the Department of Industry to the Immigration Office.
I hope after reading this article, you will be able to obtain Nepali Business Visa from the concerned department of your country.
If you have any queries or feedback related to this article please feel free to comment/contact us.
f you need such legal assistance, please contact us at +977-9849517735 or info@corporatelawyernepal.com.np
Disclaimer: This article is provided solely for educational purposes and is not intended to be legal advice, advertisement, personal communication, solicitation, or inducement of any kind from the firm or any of its members. The firm will not be held liable for any risks incurred as a result of any action taken by anyone relying on the information contained in this document.
Alpana Bhandari is a founding partner and CEO of Prime Legal Consultants and Research Center. She graduated from American University Washington College of Law. She specializes in corporate/arbitration and family law.
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