Kathmandu: Nepal Rastra Bank (NRB) has issued a new directive requiring Nepali migrant workers to repatriate their foreign earnings within 35 days of returning to Nepal. The central bank’s notification stipulates that funds held in foreign banks must be brought back to Nepal within this timeframe.
This regulation aligns with the Foreign Exchange (Regulation) Act, 2019, and the Act Restricting Investment Abroad, 2021, which restrict Nepali citizens from opening bank accounts or making investments abroad, including in real estate.
However, the regulation allows Nepali citizens to hold a foreign bank account and deposit funds earned during their time abroad. If individuals wish to maintain such accounts or make investments after returning to Nepal, they are required to inform NRB of their account details, including name, address, account number, foreign currency, and amount, within 35 days of their return.