Rule 10: Provisions Related to the Repatriation of Money

1) A non-resident Nepali who intends to repatriate the investment and the amount of his equivalent to the profit earned (made /received). Pursuant to Section 9 of the Act, an applicant shall submit an application to the Secretary, attaching the following details and documents:

(a) Copy of permission taken for investment pursuant to the Act,

(b) Decision of the board of directors of the concerned company or agency regarding the repatriation of investment,

(c) Copy of tax clearance certificate,

(d) Audited Balance sheet of the fiscal years, previous to the fiscal year in which the application for repatriation has been made,

(e) Copy of evidence for the paid-up of the liability or loan of any person or agency if such loan or liability has been made,

(f) The name, branch, and address of the Bank which has to be used for repatriation,

(g) Letter of affidavit, declaring that there is no due on any revenue or loan that has to be paid back to anybody or any liability has to be paid back in Nepal.

2) If the application pursuant to Sub-rule (1) has submitted, the secretary shall give the permission for repatriation of money under the provision of the Act in such a manner that in case of the investment made by a non-resident Nepali in convertible foreign currency at once or time to time and in full or partial basis and in case of profit made out of such investment, the amount equivalent to such profit at once.