banking after NRN citizenship

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If a NRN citizen or NRN card holder wanted to bring some legitimately earned money from the US to Nepal (for example sale of proprty, or one's savings etc) and buy property in Nepal using that money, how would one do it?

Or let us say NRN citizen or NRN card holder is due to get some money in Nepal thru sale of ancestral property ....

---Bank account in Nepal to deposit the money by transferring from US bank to Nepal (in the 1st scenario where money is coming from US) or depositing money locally in Nepal (in the 2nd scenario where money is coming locally from family) ------would the account opening process be the same NRN account process with Nepali bank ?

---these days nepali banks ask for source of money and also PAN card number. How would the NRN citizen or NRN card holder obtain a PAN card?

paradox

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I thik you get all the previleges/rights as the normal nepali citizens are getting other than right to vote and get elected. May be you cant hold any gov jobs too.

ajt

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One of the fellow NRN citizen was able to open account in Nabil bank just as any other Nepali. You can ask him further questions in link below at Dec 23rd post.

https://www.facebook.com/groups/nrn.nagarikta.public.forum.discussion

sajalshakya

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Thanks Ajit. Discussed with a couple people who were able to do video KYC at some nep banks. It looks like they may have just said ctzshp "nepali" on the kyc

Last edited: 06-May-24 09:17 PM

sajalshakya

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Last edited: 09-May-24 02:41 AM

sajalshakya

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Looks like Nepali banks require copy of passport and W9 Form for US passport holders per FATCA rules.
W9 form asks for taxpayer ID (social security number). I am assuming the bank will report any deposits or interest earned to US tax authorities.

Just wondering how safe is it to provide social security number to banks in Nepal. Is there a potential for misuse? Not sure how good banks are in Nepal as far as protecting private info and if there is a risk of any rogue employee trying to misuse the Ss#.

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