List of steps
(Total number of steps: 29)
Purchase legal stamps  (1)
Obtain security clearance  (2)
Obtain name clearance  (1)
Obtain FDI registration certificate  (2)
Obtain business guest visa clearance  (4)
Open bank account  (4)
Register company  (3)
Obtain location map  (1)
Sign land lease agreement  (4)
20
Site visit
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? (9)

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 5 6 7 15 17 23 24
Ministry of Economic Affairs, Department of Industry
Ministry of Economic Affairs, Secretariat
8
Ministry of Economic Affairs, Secretariat
Ministry of Home and Cultural Affairs, Department of Immigration (x 2)
9 10
Ministry of Home and Cultural Affairs, Department of Immigration
Royal Monetary Authority (x 2)
11 12
Royal Monetary Authority
Any Two Commercial Banks - Bank of Bhutan Ltd or Bhutan National Bank Ltd (x 2)
13 14
Any Two Commercial Banks - Bank of Bhutan Ltd or Bhutan National Bank Ltd
Ministry of Economic Affairs, Regional Trade and Industry Office (x 4)
Ministry of Economic Affairs, Regional Trade and Industry Office
Any licensed architect/ engineer or architectural/ engineering firm
18
Any licensed architect/ engineer or architectural/ engineering firm
City Corporation, Thimphu (x 4)
City Corporation, Thimphu

What you will get (5)

The objective of the procedure is to obtain those documents.
Foreign direct investment registration certificate
6
Foreign direct investment registration certificate
Certificate of incorporation
17
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 5)
4 7 13 14 25
Legal stamp (!!!)
Passport of all foreign investors
4
Passport of all foreign investors
Security clearance certificate (x 2)
4 15
Security clearance certificate
Citizenship identity card of domestic investor (x 4)
4 13 15 28
Citizenship identity card of domestic investor
Certificate of incorporation of the foreign investor company
5
Certificate of incorporation of the foreign investor company
Board of Directors'/shareholder's resolution of the foreign investing company
5
Board of Directors'/shareholder's resolution of the foreign investing company
Audited accounts of foreign investing cmpany
5
Audited accounts of foreign investing cmpany
CV of foreign investor (x 2)
5 15
CV of foreign investor
Passport of all foreign investors
5
Passport of all foreign investors
Tax return of foreign investors
5
Tax return of foreign investors
Company profile of domestic investor
5
Company profile of domestic investor
Proof of financial capability of domestic investor
5
Proof of financial capability of domestic investor
Business guest visa application form
7
Business guest visa application form
Visa application form
7
Visa application form
Trade/ Industry license
7
Trade/ Industry license
Passport of foreign investor
7
Passport of foreign investor
Visa request letter
7
Visa request letter
Work plan for visiting guests
7
Work plan for visiting guests
Consent letter from parent company
7
Consent letter from parent company
Recommendation letter from MoEA 
9
Recommendation letter from MoEA 
Business guest visa application form (one of the duly filled form submitted)
9
Business guest visa application form (one of the duly filled form submitted)
Visa application form (one of the duly filled form submitted)
9
Visa application form (one of the duly filled form submitted)
Passport of foreign investor
9
Passport of foreign investor
Application form - FCA - III
11
Application form - FCA - III
FDI registration certificate
11
FDI registration certificate
Current account opening form (BNB)
13
Current account opening form (BNB)
Approval for FC account
14
Approval for FC account
Current bank account number (x 2)
14 28
Current bank account number
Articles of incorporation
15
Articles of incorporation
Consent to act as director
15
Consent to act as director
Declaration of compliance
15
Declaration of compliance
Foreign direct investment registration certificate
15
Foreign direct investment registration certificate
List of names and addresses of the first Directors and CEO of the company
15
List of names and addresses of the first Directors and CEO of the company
Joint venture agreement between the investors /shareholders
15
Articles of incorporation of the foreign investor company
15
Articles of incorporation of the foreign investor company
Notification for payment
16
Notification for payment
Payment receipt
17
Payment receipt
Location map
19
Location map
Business proposal
19
Business proposal
Legal stamps
21
Legal stamps
Lease rental payment invoice
22
Lease rental payment invoice
Business plan (x 2)
23 25
Business plan
Land lease agreement
23
Land lease agreement
Application form for industry license
25
Application form for industry license
Certificate of incorporation (x 2)
25 28
Certificate of incorporation
Project approval
25
Project approval
Application letter for license
25
Application letter for license
Revenue receipt
27
Revenue receipt
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 0
20/sqft
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): 41 d 130 d
of which:
Waiting time in queue (sum): 5mn 4h. 5mn
Attention at counter: 55mn 4h. 10mn
Waiting time until next step (sum): 41 d 131 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 Annex II
Government land lease rules and procedures Government land lease rules and procedures
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
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