Nepali IT companies can invest abroad. The government has sought to make it feasible for IT firms to make them competitive. The decision is brought via an ordinance after a cabinet meeting on Poush 27, 2081.
The cabinet decided to amend the law to provide legal provisions for Nepali IT startups to invest in foreign countries. The decision has greatly delighted Nepali IT firms. They praised the government’s decision stating that it would help them stretch their influence abroad and be more competitive.
The ordinance also allows Nepali companies established abroad to bring revenue into the country legally in a very feasible manner. Also, they can open branch offices abroad.
So far, Nepali IT firms had legal difficulties in investing and opening branches abroad. This has long impacted such startups’ expansion and operation outside Nepal. The fact is that IT is one of the thriving industries in Nepal and the legal convenience to start operation abroad would further reinforce their abilities and skills while also contributing to the economy domestically.
In 2022 alonge, the Nepali IT industry imported services worth Rs 67 billion. This is a testament to how the industry is flourishing. The government’s ordinance helps uplift the morale of the industry.
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Nepali IT companies can open offices abroad
Nepali IT companies can open branch offices abroad and run their services. The ordinance from the government seeks to facilitate IT firms to easily run their business and also bring their earning into Nepal. But it still has not been made into a law yet.
The ordinance now has to be certified by the president. After this, Nepal’s growing IT firms can start conducting their businesses outside of Nepal.
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