Some interesting tidbits after talking to a realestate/company registration lawyer in kathmandu:
a) if a foreigner investing in industries like tourism, trade, industry and real estate, they get 100% ownership . You will also own 100% ownership of even real estate in Nepal as a company only. Previously there was much barriers to a foreigner owning land in Nepal.
b) Good Legal counseling and government fees (for company registration,etc ) costs an one time cost of 1,000 to 2,000 US dollars (estimated).
c) usually the whole process takes around 1 month.
d) You can get a BUSINESS VISA for the whole year, if you register as a company. This visa only costs 100 dollars a year. A good way for a businessperson to stay in Nepal without Visa hassles.
e) Nepali Bureaucracy is lethargic but with the right legal counsel and help, you should have a easier time registering your company and on your way to get ownership of whatever you are looking for. I saw examples of a few Americans doing the same to buy lands and open houses/resorts in nepal.
let me know if you have any questions .
Tags: Business, foreign investment, money, Nepal encourages foreigners to invest
March 15th, 2008 at 6:07 pm
I am an Australian citizen very interested in purchasing a house in Pokhara Nepal. I will be over there again in April and would like to have some information by then if possible. Thanks for your assistance in this matter. Yours sincerely, Christine
March 17th, 2008 at 9:49 pm
well, you should definitely contact a local lawyer in town (Kathmandu) if possible. Australian Embassy will also assist you in case you are unsure about credibility about different lawyers and law firms.
Then it is a matter of you sitting down with your lawyer, and then figuring things out.
Of course first you have to find the real estate you wish to purchase and then negotiate it.(can be quite a hassle).
Best go through a locally reputed real estate agent. Hassle free.. since the real estate transactions can be a hassle when handled directly because of a few corrupt government officials always willing to make a profit out of anyone who comes to register real estate properties and such..
so yeh:
Find a good lawyer / law firm (will be pretty cheap compared to australian standard)
Find a good real estate agent ( for free, literally since they get their cut from the seller, not the buyer)
And be in touch with Australian embassy
and run by them anything that deals with significant
amount of financial transaction. (want to be on safe side always, don’t ya ?)
It will be a bit of a hassle but he, Pokhara is a darn pretty place to have a home.. My village home is a few hours away from there.
Enjoy and best of luck !
Ujw
May 27th, 2009 at 12:36 pm
How is it possible to own land and a home if you are not a legal citizen? I was always told that you can only own property if you are married to a citizen or that you can have land in a citizens name, in which case it's not entirely yours.