Non-Resident Nepalese Association
(NRNA) has registered NRN Investment Ltd to promote investment in Nepal.
"NRN Investment Ltd has been
registered in Kathmandu under the Company Act 2063,” informed NRNA president
and chair of Task Force — that has been formed to promote investment in Nepal
under a collective investment programme — Jiba Lamichhane during the sixth
meeting of the Taskforce held on September 22.
The company has also opened
accounts in three A-class commercial banks for funds transfer,” he said,
welcoming all the participants to deposit the fund by November 30.
The collective investment programme
has been delayed due to delay in registering the company in Nepal.
There are nine founding members
from the International Executive Secretariat (IES) of NRNA and Promotion of
Investment in Nepal taskforce members including Jiba Limichhane (Russia), Rameshwar
Shah (UAE), Tenzi Sherpa (South Korea), TB Karki (Qatar) and Bhaban Bhatta
(Japan).
Similarly, task force includes
Shesh Ghale (Australia), Krishna Pandey (Hongkong), Kumar Pant (Germany) and
Mahesh Shrestha (Japan).
Lamichhane, on the occasion,
requested all taskforce members to actively disseminate information on the
project. The meeting also discussed on double taxation, eligibility of the
investors and holding collective investment interaction programme in different
countries.
Regional coordinator of Americas
and an expert on international taxation Mukesh Singh, on the occasion, informed
that taxation treaty between USA and Nepal was underway and the best remedy was
to incorporate a new company amongst the interested investors in USA and invest
through the company, if they were interested in repatriation of their
investment and profit but if could not invest individually.
Some investors including NRNA-NCC
USA president Prahlad KC asked whether interested investors could invest even
after the deadline.
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