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Steps (39) 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  (4) expand_more expand_less
Obtain FDI registration certificate  (3) expand_more expand_less
Obtain business guest visa clearance  (6) expand_more expand_less
Register company  (3) expand_more expand_less
Obtain site layout plan  (1) expand_more expand_less
Obtain land allotment order  (2) expand_more expand_less
Obtain approval of implementation plan  (2) expand_more expand_less
Sign lease agreement  (3) 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
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Summary of the procedure

Institutions involved 9 expand_more expand_less

Any post office or local stationery shop
Ministry of Economic Affairs, Secretariat (x 2)
Ministry of Home and Cultural Affairs, Department of Immigration (x 4)
Ministry of Economic Affairs, Regional Trade and Industry Office, Thimphu (x 5)
Any licensed architect/ engineer or architectural/ engineering firm
Royal Monetary Authority (x 2)
Any Two Commercial Banks - Bank of Bhutan Ltd or Bhutan National Bank Ltd (x 2)
Regional Revenue and Customs Office, Thimphu (x 2)

Results 5 expand_more expand_less

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

Required Documents expand_more expand_less

Company profile of domestic partner
Proof of financial capability of domestic partner
Business guest visa application form
Visa application form
Visa request letter
Trade/ Industry license
Passport of foreign investor
Itinerary for visiting guests (x 2)
Consent letter from parent company (x 2)
FDI registration certificate (x 2)
Recommendation letter from MoEA 
Business guest visa application form
Visa application form
Passport of foreign investor
Visa fee payment notification
Articles of incorporation (for private company)
Consent to act as director
Declaration of compliance
Foreign direct investment registration certificate
List of names and addresses of the first Directors and CEO of the company
Joint venture agreement between the investors /shareholders
Citizenship identity card (x 4)
Security clearance certificate
Application form for industrial land
Site layout plan
Business plan (x 3)
Implementation plan
Land allotment order
Approval of implementation plan
Letter of undertaking for license
Land lease agreement (x 2)
Acceptance of security deposit
Certificate of incorporation (x 3)
Project approval
Application form - FCA - III
Current account opening form (BNB)
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
Certificate of incorporation of the foreign investor company (x 2)
Board of Directors'/shareholder's resolution of the foreign investing company (x 2)
Audited accounts of foreign investing company
Articles of incorporation of the foreign investor company

Cost BTN  20,970 expand_more expand_less

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

Cost detail

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BTN 170 -
BTN  10 per legal stamp
BTN 2,000
BTN 2,500
BTN 7,000
BTN 5,000
BTN 4,000
Business license fee for authorized share capital above BTN 100 m
BTN 100
Booklet fee
BTN 100
Booklet fee
BTN 100
Booklet fee

Total Duration 53 d - 170 d expand_more expand_less

  Min. Max.
Total time (sum): 53 d 170 d
of which:
Waiting time in queue (sum): 5mn 5h.
Attention at counter: 1h. 15mn 5h. 15mn
Waiting time until next step (sum): 53 d 169 d

Laws 12 expand_more expand_less

Companies Act of Bhutan 2016 Companies Act of Bhutan 2016 Chapter 5, Sections 38-43
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
  Article 2.4
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 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
  Sections 57, 58, 59, 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 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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