Government Announces Amendments to Provisions Related to Non-Residential Nepalese Citizenship
News Summary
- The government has amended provisions related to Non-Residential Nepalese citizenship to implement the principle of “Once a Nepali, Always a Nepali.”
- Finance Minister Dr. Swarnim Wagle stated that Non-Residential Nepalese will be granted extensive economic, social, and cultural rights and included in the country’s major development initiatives.
- The budget aims to empower Nepalese delegations to promote exports, attract investment, and boost tourism.
May 29, Kathmandu – The government has announced plans to amend constitutional provisions related to Non-Residential Nepalese citizenship (NRNA), effectively putting into practice the slogan “Once a Nepali, Always a Nepali.”
During the presentation of the upcoming fiscal year’s budget, Finance Minister Dr. Swarnim Wagle emphasized that Non-Residential Nepalese will be fully granted economic, social, and cultural rights and will be actively involved in the country’s key development initiatives.
Furthermore, the budget includes measures to strengthen and empower Nepali delegations operating abroad.
There is also a plan to bolster the diplomatic efforts of these delegations to enhance Nepal’s export capacity, attract bilateral trade and investment, and promote tourism.
The government has proposed legal amendments within the budget to allow Non-Residential Nepalese to participate in the securities market to encourage investment. Additionally, changes will be made to the legal framework concerning foreign investment approvals, investment auditing, profit repatriation provisions, and capital gains taxation.
