Govt sets visa criteria for foreign investors in Nepal

KATHMANDU: The govt has set visa criteria for FDI investors. The criteria has been set under the Foreign Investment and Technology Transfer Regulation.

According to the new visa provision, business visas will be provided to two persons who have invested Rs 100 million or more than that in Nepal and have already invested 25 percent of the investment.

Such visas will be issued to two representatives of the investor and the family. The regulation also provides for a residence visa for foreign investors. Such visas will be issued to foreign investors or their official representatives and family members who make foreign exchange investments of more than $1 million or equivalent.

The Ministry of Industry, Commerce and Supplies has stated that the person will get a residence visa as long as 50 percent of such investment remains in the country. In the case of an investor who has been approved before the implementation of the Foreign Investment Act, the minimum amount specified at the time of approval of the investment shall be maintained as the minimum total investment.

The regulations also states that investors and concerned officials should apply for a visa at the body that approves foreign investment.