Posted by: Sandeep_US November 10, 2016
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I live in US and am planning on starting a business in Nepal soon. For US based entrepreneurs that have businesses in Nepal, I want to understand how are you managing your accounts and transactions in Nepal?
I am most interested in which US bank provides the most convenience, and least to no fees, starting with the first step of moving initial savings of say $50k-$60k from US to Nepal to set up the business. What is the cheapest way to move this capital to Nepal?
Also, as a US citizen, do you need to pay taxes on income or profit you generate in Nepal? If you have a NRN ID card, do you still need to pay taxes to Nepal government or is that waived as a way to attract foreign investment?
I am most interested in which US bank provides the most convenience, and least to no fees, starting with the first step of moving initial savings of say $50k-$60k from US to Nepal to set up the business. What is the cheapest way to move this capital to Nepal?
Also, as a US citizen, do you need to pay taxes on income or profit you generate in Nepal? If you have a NRN ID card, do you still need to pay taxes to Nepal government or is that waived as a way to attract foreign investment?