1. Foreign investment
  2. Gasa
  3. Simple office rental
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Steps (35) arrow_drop_up arrow_drop_down
Obtain security clearance (local partner)  (2) expand_more expand_less
Purchase legal stamps (local partner)  (1) expand_more expand_less
Obtain company name clearance  (3) expand_more expand_less
Obtain FDI registration certificate  (3) expand_more expand_less
Register company  (3) expand_more expand_less
Obtain business guest visa  (7) expand_more expand_less
Obtain location clearance  (4) expand_more expand_less
Obtain project approval  (3) expand_more expand_less
Obtain business license  (3) expand_more expand_less
Open bank account  (4) expand_more expand_less
Obtain tax payer number  (2) expand_more expand_less
34 Request tax payer number
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35 Obtain tax payer number
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Summary of the procedure

Institutions involved 9 expand_more expand_less

Any post office or local stationery shop
3
Ministry of Economic Affairs, Department of Industry (x 12)
4 5 6 7 8 9 10 11 13 24 25 26
Ministry of Economic Affairs, Regional Trade and Industry Office, Thimphu (x 4)
12 27 28 29
Ministry of Economic Affairs, Secretariat (x 2)
14 15
Ministry of Home and Cultural Affairs, Department of Immigration (x 4)
16 17 18 19
District Administration, Gasa (x 4)
20 21 22 23
Royal Monetary Authority (x 2)
30 31
Any Two Commercial Banks - Bank of Bhutan Ltd or Bhutan National Bank Ltd (x 2)
32 33
Regional Revenue and Customs Office, Thimphu (x 2)
34 35

Results 4 expand_more expand_less

Foreign direct investment registration certificate
9
Certificate of incorporation
12
Project approval (FDI)
26
Tax payer number
35

Required Documents
Individual investor Corporate investor
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Company profile of domestic partner
7
Proof of financial capability of domestic partner
7
Foreign direct investment registration certificate
10
Joint venture agreement between the investors /shareholders
10
Citizenship identity card number (x 3)
10 32 34
Security clearance certificate
10
FDI registration certificate (x 3)
13 16 30
Business guest visa application form
13
Visa application form
13
Visa request letter
13
Legal stamp (x 3)
13 32 33
Business license
13
Passport of foreign investor
13
Itinerary for visiting guests (x 2)
13 16
Consent letter from parent company (x 2)
13 16
Recommendation letter from MoEA 
16
Business guest visa application form
16
Visa application form
16
Passport of foreign investor
16
Visa fee payment notification
17
Application form for industry license
20
Legal stamps
20
Consent letter from building owners
20
Occupancy certificate
20
Location clearance
24
Business plan
24
Certificate of incorporation (x 3)
27 32 34
Project approval
27
Application form - FCA - III
30
Current account opening form (BNB)
32
Business license (x 2)
32 34
Board resolution of the company to open account in the bank
32
A letter with additional signatories details and documents
32
Approval for FC account
33
Current account number (x 2)
33 34
Promoter's details
34
Percentage shareholding of partners
34
Reference number for TPN
35
CV of foreign investor (x 2)
7 10
Passport of foreign investor
7
Tax return of foreign investors
7
Passports of all foreign investors
10
Certificate of incorporation of the foreign investor company (x 2)
7 10
Board of Directors'/shareholder's resolution of the foreign investing company (x 2)
7 10
Audited accounts of foreign investing company
7
Articles of incorporation of the foreign investor company
10

Estimated cost BTN  29,970

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USD expand_more expand_less
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This is an estimate based on a series of assumptions which you can modify to calculate your own costs:

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BTN 170 -
BTN  10 per legal stamp
17 mode_edit
BTN 2,000
BTN 7,000
BTN 2,500
BTN 4,000
Business license fee for authorized share capital above BTN 100 m
BTN 8,000
Registration Fees
BTN 100
Booklet fee
BTN 4,000
Registration fee
BTN 100
Booklet fee
BTN 2,000
Registration fee
BTN 100
Booklet fee

Total Duration 23 d - 88 d expand_more expand_less

  Min. Max.
Total time (sum): 23 d 88 d
of which:
Waiting time in queue (sum): 5mn 4h. 5mn
Attention at counter: 35mn 3h.
Waiting time until next step (sum): 23 d 87 d

Laws 12 expand_more expand_less

Companies Act of Bhutan 2016 Companies Act of Bhutan 2016 Chapter 5, Sections 38-43
Cottage and Small Industry Policy 2012 Cottage and Small Industry Policy 2012 Chapter 5 - reference for investment size
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 (ii) a, 21, c
Foreign Direct Investment (FDI) Policy, 2010 Foreign Direct Investment (FDI) Policy, 2010 (Amended on July 18, 2014)
  articles 3.7, 3.6, 5.7, 5.1, 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
  articles 2.4, icle 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 I, Chapter 10, Section 47 and Part II, Chapter 4, Section 16
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
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 I, Rule 6.1 and Part II, Rule # 3 (3.1)
The Immigration Act of Kingdom of Bhutan, 2007 The Immigration Act of Kingdom of Bhutan, 2007
  Chapter  6 ,  Section  43 (e) ,  Article 43
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