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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  (2) expand_more expand_less
Register company  (3) expand_more expand_less
Obtain power commitment letter  (2) expand_more expand_less
Obtain Provisional letter of interest  (2) expand_more expand_less
Obtain Sector Clearance  (2) expand_more expand_less
Obtain Project Approval  (2) expand_more expand_less
Obtain Business License  (3) expand_more expand_less
Obtain Letter of Interest  (2) expand_more expand_less
Sign lease agreement  (4) expand_more expand_less
Open bank account  (5) expand_more expand_less
Obtain tax payer number  (2) expand_more expand_less
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Summary of the procedure

Institutions involved 11 expand_more expand_less

Any post office or local stationery shop
Ministry of Economic Affairs, Department of Industry (x 13)
Ministry of Economic Affairs, Regional Office of Economic Affairs, Thimphu (x 5)
Bhutan Power Corporation, Electricity Service Division, Thimphu (x 2)
Any relevant agency (x 2)
Department of Land Administration and Management, National Land Commission Secretariat
Department of Land Administration and Management, National Land Commission Secretariat
District Administration, Thimphu
Ministry of Economic Affairs, Secretariat
Royal Monetary Authority (x 3)
Any commercial bank in Bhutan (x 2)
Regional Revenue and Customs Office, Thimphu (x 2)

Results 6 expand_more expand_less

Foreign direct investment registration certificate
Certificate of incorporation
Project approval
Land lease certificate
Land lease agreement
Tax payer number

Required Documents expand_more expand_less

Citizenship identity card (x 6)
Security clearance certificate (x 2)
Passports of all foreign investors
Company profile of domestic partner
Proof of financial capability of domestic partner
Foreign direct investment registration certificate
Joint venture agreement between the investors /shareholders
Application form for industrial land
Application form for industrial land
Power commitment letter
Power commitment letter
Legal stamp (x 4)
FDI registration certificate
Covering letter
Business proposal (x 2)
Sector clearance
Certificate of incorporation
Power clearance
Provisional letter of interest
Certificate of incorporation (x 3)
Project approval (FDI) XXX
Business license
Letter of interest
Approval of implementation plan
Letter of undertaking for license
Land lease agreement
Acceptance of security deposit
Application form - FCA - III
FDI registration certificate
Current account opening form
Business license (x 2)
Board resolution of the company to open account in the bank
A letter with additional signatories details and documents
Approval for FC account
Current account number (x 2)
Promoter's details
Percentage shareholding of partners
Reference number for TPN
CV of foreign investor (x 2)
Passports of all foreign investors (x 2)
Tax return of foreign investors for the last financial year
Notarized copy of Certificate of incorporation of the foreign investing company (x 2)
Shareholder's resolution of the foreign investing company (x 2)
Audited accounts of foreign investing company for the last financial year
Articles of incorporation of the foreign investor company

Estimated cost BTN  19,270

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BTN expand_more expand_less
  • BTN Add Name Here
This is an estimate based on a series of assumptions which you can modify to calculate your own costs:

Cost detail

Estimate your cost

BTN 170 -
BTN  10 per 
legal stamp
BTN 2,000
Name clearance fee
BTN 5,000
for private company
BTN 4,000
Business license fee for authorized share capital above BTN 100 m
BTN 8,000
Registration Fees
BTN 100
Booklet fee

Total Duration 15d - 42d  expand_more expand_less

  Min. Max.
Total time (sum): 15d 42d
of which:
Waiting time in queue (sum): 5mn 2h. 25mn
Attention at counter: 35mn 2h. 25mn
Waiting time until next step (sum): 14d 41d

Laws 14 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 application guidelines FDI application guidelines 2019
  Article 1
FDI regulations 2019 FDI Regulations 2019
  articles 15, 56, 59, 70, 71-74, 75
FDI Rules and Regulations 2012 FDI Rules and Regulations 2012 (Amended Dec 13, 2014) Schedule VI, Article 2(iv)
Foreign Direct Investment Policy 2019 Foreign Direct Investment Policy 2019
  articles 3.6, 3.7, 5.1, 6.1, 6.2, 11 (i)
Foreign Exchange Rules and Regulations 2018 Foreign Exchange Rules and Regulations 2018 40, 44-a(vi)
GENERAL GUIDELINES FOR INDUSTRIAL AND  COMMERCIAL VENTURES IN BHUTAN, 1997 General Guidelines for Industrial and Commercial Ventures in Bhutan, 1997
  Article 2.4
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
Land Lease Rules and Regulations 2018 Land Lease Rules and Regulations 2018
  articles 102-110, 108, 110, 178-185
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 and Regulations for Lease of Government Reserved Forest Land & Government Land 2009 Rules and Regulations for Lease of Government Reserved Forest Land & Government Land 2009
  Section  60
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)
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