Foreign Investment and Technology Transfer Act, 2075 (“FITTA “) aims to reform the existing legal framework of foreign investment in Nepal to facilitate new investments. It has replaced the previous Foreign Investment and Technology Transfer Act, 2049. FITTA which governs foreign investment and technology transfer has a broader scope than the previous one. The definition of a foreign investor now includes Non-Resident Nepali (“NRN “) alongside foreign individuals, firms, organizations, and government.
Specification:
- Provision related to Investment in shares in foreign currency, venture capital fund, secondary stock market, etc., and re-investment of profit earned from such investment.
- Investment through the lease of airlines, ships, and machinery or by issuing securities in foreign stock markets.
- Technology transfer (licensing of foreign intellectual property, franchising, management, technical and marketing services); and
- Provision regarding minimum investment, repatriation, visa facility and requirement of approval.
- Provision related to the permitted and restricted areas for investment.
Source: PDF Copy of The Foreign Investment and Technology Transfer Act 2075, provided above was downloaded from Ministry of Industry, Commerce and Supplies.
