FITTA2019

Overview of FITTA 2075(2019)

Foreign Investment & Technology Act 2075(2019)

Nitesh Todi (Partner)
5/30/2019
FITTA2019
Introduction
The Foreign Investment & Technology Transfer Act (FITTA),2075 (2019)is enacted after president’s assent on 27 March 2019 and replaced the old Foreign Investment and Technology Transfer Act, 1992. The FITTA intends to increase the industrialization and foreign investment for the long term and sustainable growth in national economy by utilizing the available resources and also by reforming the existing legal framework of foreign investment in Nepal to attract more foreign investments.The new act has included other forms of foreign investment; in addition to the earlier provision of investment and re-investment in shares and Technology Transfer; such as Incorporating a Branch Office, Lease Financing, Investment in secondary stock market, Investment in equity through Venture Capital Fund and investment by issue of securities in foreign stock markets.

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