Kathmandu. The Department of Industry has inaugurated the system of approval of foreign investment through the automatic route. The government made the first amendment of the Foreign Investment and Technology Transfer Regulations-2077 for the system of approving foreign investment through the automatic route.
In the revised regulations published in the gazette on 7th Baisakh, there is a provision for the establishment of a new company with 100 percent share ownership or joint investment or foreign investors who are operating with foreign investment and are operating to invest in such a company for capital increase through an automatic route. It started. The Department of Industries has prepared an electronic system for approving foreign investment through an automated route.
Foreign investors can apply through this system from Monday and receive the foreign investment approval letter as soon as they submit their application. They can register the company based on the same letter. The necessary details and documents for foreign investment approval can be submitted through the electronic system. Those who want to obtain foreign investment approval through the automatic route must log in to the electronic system operated by the department and enter the details in the system as requested by the system.
According to the department, the information (confirmation) that the investment has been approved with the application number will be given to the e-mail address entered by the foreign investor through the system. There is a provision for approving foreign investment in industries with a total capital of up to 50 million rupees. There is no minimum investment limit.