Foreign Investment and Technology Transfer Act, 2075FITTA

Purpose: To attract foreign capital and technology into import substitution, export promotion, infrastructure and production, creating an investment-friendly climate. Authenticated 2075/12/13 (27 March 2019), Act No. 34 of 2075.

Structure: 7 chapters, Sections 1-53.

Key provisions:

• Sections 3-10: forms of foreign investment: shares, reinvestment, purchase of assets, lease investment, technology transfer, branch, venture capital funds, and securities trading.
• Sections 11-12: borrowing in foreign currency and loans from foreign financial institutions.
• Section 14: agreements with commercial banks; Section 16: information to Nepal Rastra Bank.
• Section 15: application for approval; Section 17: approving bodies (Investment Board or Department of Industry).
• Section 20: repatriation of investment and earnings.
• Section 23: single-window service; Section 32: national treatment; Section 33: no nationalisation or expropriation.
• Section 40: dispute settlement; Section 42: automatic approval route.
• Section 53: repeals the Foreign Investment and Technology Transfer Act, 2049.

Banks open foreign investor accounts, receive inward FDI, report it to NRB and process dividend and capital repatriation under this Act and NRB's foreign exchange rules.

उद्देश्य: आयात प्रतिस्थापन, निर्यात प्रवर्द्धन, पूर्वाधार र उत्पादनमा विदेशी पूँजी र प्रविधि आकर्षित गर्ने। प्रमाणीकरण २०७५।१२।१३, ऐन नं. ३४।

संरचना: ७ परिच्छेद, दफा १ देखि ५३।

मुख्य व्यवस्था:

• दफा ३-१०: शेयर, पुनर्लगानी, सम्पत्ति खरिद, लिज, प्रविधि हस्तान्तरण, शाखा र भेन्चर क्यापिटल फन्डमार्फत लगानी।
• दफा ११-१२: विदेशी मुद्रामा ऋण।
• दफा १६: राष्ट्र बैङ्कलाई जानकारी; दफा १७: स्वीकृति दिने निकाय।
• दफा २०: लगानी र आय फिर्ता।
• दफा ३२: राष्ट्रिय व्यवहार; दफा ३३: राष्ट्रियकरण नगरिने।
• दफा ४२: स्वचालित स्वीकृति।

बैङ्कहरूले विदेशी लगानी भित्र्याउने, राष्ट्र बैङ्कलाई जानकारी दिने र लाभांश तथा पूँजी फिर्ता पठाउने काम यसै ऐन अनुसार गर्छन्।