The 2019 Foreign Investment and Technology Transfer Act (FITTA), which largely regulates inbound foreign investment in Nepal, defines the acquisition of any foreign technical, consultancy, management, or marketing service as a technology transfer. Any foreign individual, firm, company, or corporate body involved in foreign investment or technology transfer, including foreign governments or international agencies, is allowed to acquire such services. A person desiring to derive benefit from the foreign investment or technology transfer must apply to the Department of Industry for permission, although certain professional services and industrial sectors are off limits to foreign investment. Under the FITTA, foreign direct investment is not permitted in such professional services as personal service businesses, tailoring, driver training, motion pictures in national languages, media, and engineering and legal consultancy services.
Licensing Requirements for Professional Services
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