Govt set visa provisions for foreign investors

Kathmandu: The government has set visa provisions for foreign investors. The Foreign Investment and Technology Transfer Regulations confirm the types of visas that foreign investors will receive for a period of time.

According to the new visa arrangement, business visas will be provided to two persons who have invested Rs 100 million or more 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 of three. 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 १० 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 investment approval will have to be kept as the minimum total investment.

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

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