List of steps

(Total number of steps: 35)

Purchase legal stamps (1)

Purchase legal stamps

Obtain security clearance (2)

Request security clearance Online procedure

Obtain security clearance Online procedure

Obtain name clearance (1)

Obtain name clearance

Obtain FDI registration certificate (2)

Request FDI registration certificate

Collect FDI registration certificate

Obtain business guest visa clearance (4)

Request visa recommendation letter

Collect visa recommendation letter

Request visa clearance

Collect visa clearance

Request company registration

Pay registration fees

Collect certificate of incorporation

Obtain site layout plan (1)

Obtain site layout plan

Obtain land allotment order (2)

Request land allotment order

Collect land allotment order

Obtain approval of implementation plan (2)

Submit implementation plan

Receive approval of implementation plan

Sign lease agreement (3)

Sign lease agreement

Pay advance 1st quarter rent

Pay security deposit

Obtain project approval (5)

Request project approval

Collect environmental clearance payment notification

Pay environmental clearance fee

Submit payment receipt

Collect project approval

Obtain business license (3)

Request business license Online procedure

Pay license fees Online procedure

Collect business license

Open bank account (4)

Request approval for FC account

Collect approval for FC Account

Open current bank account

Open foreign currency bank account

Obtain tax payer number (2)

Request tax payer number Online procedure

Obtain tax payer number Online procedure

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Properties

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	Include recourse information		"Certification sheet" format

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

Ministry of Economic Affairs, Department of Industry (x 13)

4 5 6 7 11 13 15 16 17 18 19 22 26

Ministry of Economic Affairs, Secretariat (x 2)

8 21

Ministry of Home and Cultural Affairs, Department of Immigration (x 2)

9 10

Ministry of Economic Affairs, Regional Trade and Industry Office, Thimphu (x 3)

12 20 29

Any licensed architect/ engineer or architectural/ engineering firm

Any competent authority (x 2)

23 25

Revenue section of the competent authority

Royal Monetary Authority (x 2)

30 31

Any Two Commercial Banks - Bank of Bhutan Ltd or Bhutan National Bank Ltd (x 2)

32 33

What you will get (5)

The objective of the procedure is to obtain those documents.

Foreign direct investment registration certificate

Certificate of incorporation

Land lease agreement

Project approval

Tax payer number

Required documents

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

Individual investor Corporate investor

Name clearance form

Legal stamp (x 6)

4 7 11 19 32 33

Passport of all foreign investors

Security clearance certificate (x 2)

4 11

Citizenship identity card of investor (x 5)

4 11 19 32 34

Certificate of incorporation of the foreign investor company

Board of Directors'/shareholder's resolution of the foreign investing company (x 2)

5 11

Audited accounts of foreign investing cmpany

CV of foreign investor (x 2)

5 11

Passport of all foreign investors

Tax return of foreign investors

Company profile of domestic investor

Proof of financial capability of domestic investor

Business guest visa application form

Visa application form

Trade/ Industry license

Passport of foreign investor

Visa request letter

Itinerary for visiting guests

Consent letter from parent company

Recommendation letter from MoEA

Business guest visa application form (one of the duly filled form submitted)

Visa application form (one of the duly filled form submitted)

Passport of foreign investor

Articles of incorporation

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

Articles of incorporation of the foreign investor company

Notification for payment

Payment receipt

Application form for industrial land

Site layout plan

Business plan (x 3)

15 22 27

Implementation plan

Land allotment order

Approval of implementation plan

Letter of undertaking for license

Land lease agreement (x 2)

20 22

Acceptance of security deposit

Initial environmental examination (IEE) - Industry

Environmental clearance payment notification

Payment receipt

Certificate of incorporation (x 3)

27 32 34

Project approval

Application form - FCA - III

FDI registration certificate

Current account opening form (BNB)

Business license (x 2)

32 34

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)

33 34

Promoter's details

Percentage shareholding of partners

How much?

Estimated cost of the procedure BTN 104,890

Cost detail	Estimate your cost
BTN 10 per legal stamp - BTN 90	9
BTN 8,000 Business registration fee for authorized share capital above BTN 100m
BTN 4,000 Business registration fee for authorized share capital between BTN 10m to BTN 100m
BTN 2,000 Business registration fee for authorized share capital between BTN 1m to BTN 10m
BTN 50,000 Environmental Clearance fee
BTN 500 Environmental Clearance application fee
BTN 30,000 Environmental clearance fee
BTN 500 Environmental clearance application fee
BTN 2,000 Environmental clearance fee
BTN 500 Environmental clearance application fee
BTN 4,000 Business license fee for authorized share capital above BTN 100 m
BTN 100 Booklet fee
BTN 2,000 Business license fee for authorized share capital between BTN 10m to 100m
BTN 100 Booklet fee
BTN 1,000 Business license fee for authorized share capital between BTN 1m to 10m
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):	64 d	200 d
of which:
Waiting time in queue (sum):	5mn	4h. 15mn
Attention at counter:	1h. 25mn	5h. 40mn
Waiting time until next step (sum):	64 d	200 d

Legal justification?

The regulations which justify the procedure and its content

Companies Act of Bhutan 2016 Chapter 5, Sections 38-43

Cottage and Small Industry Policy 2012 Chapter 5

Environmental Assessment Act, 2000 Section 35 (sub-section 35.3) and section 63
Article 35.3

Evidence Act of Bhutan, 2005 Section 35(c)

FDI Rules and Regulations 2012 (Amended Dec 13, 2014) Schedule VI, 2 (ii,e)
articles 19, 20, 21

Fee schedules to cover the cost of administering the environmental assessment act 2000
Article 5

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 Annex II (For investment size, refer Cottage and Small Industry Policy 2012, Chapter 5).