Repatriation

A non-resident Nepali may repatriate the investment and the amount equivalent to the profit earned there from, in convertible foreign currency in the manner as prescribed. A nonresident Nepali who intends to repatriate the investment and the amount of his equivalent to the profit earned (made /received)) shall submit an application before the secretary of Ministry of foreign Affairs (MOFA) attaching the following details and documents:

• Copy of permission taken for investment pursuant to the Act,
• Decision of the board of directors of concerned company or agency regarding the repatriation of investment,
• Copy of tax clearance certificate,
• Audited Balance sheet of the fiscal years, previous to the fiscal year in which application for repatriation has been made,
• Copy of evidence for paid up of the liability or loan of any person or agency if such loan or liability has been made,
• The name, branch and address of the Bank which has to be used for repatriation,
• Letter of affidavit, declaring that there is not any due on any type of revenue or loan that have to be paid back to anybody or any liability have to paid back in Nepal.

If the application has submitted, the secretary of Ministry of Foreign Affairs shall give the permission for repatriation of money under the provision of the Act in such a manner that in case of the investment made by a non-resident Nepali in convertible foreign currency at once or time to time and in full or partial basis and in case of profit made out of such investment, the amount equivalent to such profit at once.