List of steps
(Total number of steps: 29)
Purchase legal stamps  (1)
Obtain security clearance  (2)
Obtain name clearance  (1)
Sign MoU on office lease  (1)
Obtain FDI registration certificate  (2)
Obtain business guest visa clearance  (4)
Obtain location clearance  (4)
14
Site visit
Register company  (3)
Open bank account  (4)
Obtain project approval  (2)
Obtain business license  (3)
Obtain tax payer number  (2)

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Properties
 
Summary of the procedure
 

Where to go? (10)

You will have to go to the following agencies. The number indicates how many interactions are required with each entity.
Any post office or local stationary shop
1
Any post office or local stationary shop
Ministry of Economic Affairs, Department of Industry (x 8)
4 6 7 8 16 18 23 24
Ministry of Economic Affairs, Department of Industry
Any building owner/ institution
5
Any building owner/ institution
Ministry of Economic Affairs, Secretariat
9
Ministry of Economic Affairs, Secretariat
Ministry of Home and Cultural Affairs, Department of Immigration (x 2)
10 11
Ministry of Home and Cultural Affairs, Department of Immigration
District Administration, Dagana (x 4)
District Administration, Dagana
Ministry of Economic Affairs, Regional Trade and Industry Office, Thimphu
17
Ministry of Economic Affairs, Regional Trade and Industry Office, Thimphu
Royal Monetary Authority (x 2)
19 20
Royal Monetary Authority
Any Two Commercial Banks - Bank of Bhutan Ltd or Bhutan National Bank Ltd (x 2)
21 22
Any Two Commercial Banks - Bank of Bhutan Ltd or Bhutan National Bank Ltd
Ministry of Economic Affairs, Regional Trade and Industry Office, Gelephu
27
Ministry of Economic Affairs, Regional Trade and Industry Office, Gelephu

What you will get (5)

The objective of the procedure is to obtain those documents.
Foreign direct investment registration certificate
7
Foreign direct investment registration certificate
Certificate of incorporation
18
Certificate of incorporation
Project approval
24
Project approval
Business license
27
Business license
Tax payer number
29
Tax payer number

Required documents 

The documents with green band will be provided to you during the procedure.

Name clearance form
4
Name clearance form
Legal stamp (x 6)
4 5 8 12 21 22
Legal stamp
Passport of all foreign investors
4
Passport of all foreign investors
Security clearance certificate (x 2)
4 16
Security clearance certificate
Citizenship identity card of investor (x 4)
4 16 21 28
Citizenship identity card of  investor
Certificate of incorporation of the foreign investor company
6
Certificate of incorporation of the foreign investor company
Board of Directors'/shareholder's resolution of the foreign investing company
6
Board of Directors'/shareholder's resolution of the foreign investing company
CV of foreign investor (x 2)
6 16
CV of foreign investor
Company profile of domestic investor
6
Company profile of domestic investor
Proof of financial capability of domestic investor
6
Proof of financial capability of domestic investor
Business guest visa application form
8
Business guest visa application form
Visa application form
8
Visa application form
Trade/ Industry license
8
Trade/ Industry license
Passport of foreign investor
8
Passport of foreign investor
Visa request letter
8
Visa request letter
Work plan for visiting guests
8
Work plan for visiting guests
Consent letter from parent company
8
Consent letter from parent company
Recommendation letter from MoEA 
10
Recommendation letter from MoEA 
Business guest visa application form (one of the duly filled form submitted)
10
Business guest visa application form (one of the duly filled form submitted)
Visa application form (one of the duly filled form submitted)
10
Visa application form (one of the duly filled form submitted)
Passport of foreign investor
10
Passport of foreign investor
Application form for industry license
12
Application form for industry license
Consent letter from building owners
12
Consent letter from building owners
Occupancy certificate
12
Occupancy certificate
Articles of incorporation
16
Articles of incorporation
Consent to act as director
16
Consent to act as director
Declaration of compliance
16
Declaration of compliance
Foreign direct investment registration certificate
16
Foreign direct investment registration certificate
List of names and addresses of the first Directors and CEO of the company
16
List of names and addresses of the first Directors and CEO of the company
Joint venture agreement between the investors /shareholders
16
Articles of incorporation of the foreign investor company
16
Articles of incorporation of the foreign investor company
Notification for payment
17
Notification for payment
Payment receipt
18
Payment receipt
Application form - FCA - III
19
Application form - FCA - III
FDI registration certificate
19
FDI registration certificate
Current account opening form (BNB)
21
Current account opening form (BNB)
Certificate of incorporation (x 3)
21 25 28
Certificate of incorporation
Board resolution of the company to open account in the bank
21
A letter with additional signatories details and documents
21
Approval for FC account
22
Approval for FC account
Current account number (x 2)
22 28
Current account number
Location clearance
23
Location clearance
Business plan (x 2)
23 25
Business plan
Project approval
25
Project approval
Undertaking form
25
Undertaking form
Business license
28
Business license
Promoter's details
28
Promoter's details
Percentage shareholding of partners
28
Percentage shareholding of partners

How much?

Estimated cost of the procedure  BTN  8,290

change the values with the

Cost detail

Estimate your cost

BTN  10 per legal stamp
- BTN 90
9
BTN 2,000
Business registration fee for authorized share capital above BTN 2 million
BTN 4,000
Business license fee
BTN 100
Booklet fee
BTN 2,000
Business license fee
BTN 100
Booklet fee

How long ?

The estimated total time is calculated by adding the time spent: 1) waiting in queue, 2) at the counter and 3) between steps.
  Min. Max.
Total time (sum): 18 d 68 d
of which:
Waiting time in queue (sum): 5mn 3h. 25mn
Attention at counter: 45mn 3h. 40mn
Waiting time until next step (sum): 18 d 68 d

Legal justification?

The regulations which justify the procedure and its content
Companies Act of Bhutan 2016 Companies Act of Bhutan 2016 Chapter 5, Sections 38-43
  Section  16
Evidence Act of Bhutan, 2005 Evidence Act of Bhutan, 2005 Section 35(c)
FDI Rules and Regulations 2012 FDI Rules and Regulations 2012 (Amended Dec 13, 2014) Schedule VI, 2 (ii,e)
  articles 19, 20, 21
Foreign Direct Investment (FDI) Policy, 2010 Foreign Direct Investment (FDI) Policy, 2010 (Amended on July 18, 2014)
  articles 3.7, 5.7, 6.1, 6.2
Foreign Exchange Regulations of Bhutan, 1997 Foreign Exchange Regulations of Bhutan, 2013
  Article 48
GENERAL GUIDELINES FOR INDUSTRIAL AND  COMMERCIAL VENTURES IN BHUTAN, 1997 General Guidelines for Industrial and Commercial Ventures in Bhutan, 1997
  Article 4.1 (iii)
Immigration Rules and Regulations of Bhutan 2012 Immigration Rules and Regulations of Bhutan 2012
  Article 63
Income Tax Act of the Kingdom of Bhutan 2001 Income Tax Act of the Kingdom of Bhutan 2001 Part II, Chapter 6, Section 14
Rules and Regulations for establishment and operation of industrial and commercial ventures in Bhutan, 1995 Rules and Regulations for establishment and operation of industrial and commercial ventures in Bhutan, 1995 Rules 1, 29
Rules on the Income Tax Act of the Kingdom of Bhutan 2001 Rules on the Income Tax Act of the Kingdom of Bhutan 2001 Part II, Rule 3
The Immigration Act of Kingdom of Bhutan, 2007 The Immigration Act of Kingdom of Bhutan, 2007
  Chapter  6 ,  Section  43 (e) ,  Article 43
The Tenancy Act of the Kingdom of Bhutan 2004 The Tenancy Act of the Kingdom of Bhutan 2004
  Section  6.1
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