New regulation aims to prevent delays in the implementation of foreign investments
11 Jan 2021
On 11 January 2021, a new regulation for the Foreign Investment and Technology Transfer Act was issued, requiring foreign investors to bring 70 percent of their proposed investment before beginning operations, and the rest in the next two years. Moreover, foreign investors have to transfer the capital they have pledged within a year of their project being approved. And for the first time, foreign investors will be issued identity cards according to the size of their investment. Investors in the Rs50 million to Rs250 million range are categorised as 'general foreign investors'. Those investing between Rs250 million and Rs1 billion are classified as 'special foreign investors', and investors making an investment of more than Rs1 billion are called 'very special foreign investors'.
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Treatment and operation (Capital transfer and FOREX)
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