One question we frequently get asked as a leading real estate counseling service in Nepal is, “Can a foreigner buy property in Nepal?.” Well, the answer is both yes and no- it depends on what context you inquire.
First, let us discuss ‘generally’. If you are asking if a foreigner can buy a property in Nepal to come and live in the country, the answer is no. The same goes for a holiday home. So, if you are impressed by the natural and cultural heritage of the country and want to become a part of it, our sincere apologies. You will have to look for another method than to buy a house or land in Nepal.
On the other hand, say that you own a company. You want to expand to the Himalayan nation, and you need a property for your business. Then, yes, you can have one for your company purposes, but ensure that you have registered a limited company. You can get 100% property rights as long as you are the owner of the business entity you launched in the nation.
Thus, foreigners can buy property in Nepal if they are registered businesspeople or entrepreneurs with a business venture in Nepal.
Let us clear the air further. The rule is different for NRNs (Non-Resident Nepalis), and they can purchase real estate in Nepal. However, there’s a limit, and they can buy up to 2 ropanis of land/ house within the Kathmandu valley. They also have an option of purchasing up to 8 Kattha of land/ house in the Terai region. Remember that the property they buy is only for personal use.
Buying property for foreigners in Nepal has been very complicated since the start.
First things first, the Nepal government and its people have always been very conservative about the national identity. This has somehow affected the real estate provision in Nepal, as it reflects in the civil code 2021 BS. According to it, property in Nepal is only meant for the country people. Selling or gifting property (especially land) to foreign individuals or organizations is equivalent to the other people owning the country. Thus, if anyone does so, the government has full rights to confiscate the property.
Of course, it sounds firm when we look at it this way, but the code was formulated before fifty years. The mindset is obviously different now. The government of Nepal has begun to realize more the potential of the real estate business. Ministers and political personnel have been talking about amending the conduct and modifying it, but it has not been done until now.
Yes, we can be very optimistic about the changes. If you are still unknown, Nepal has just gained a stable government, and it is expected to bring positives in various aspects, real estate being one. Thus, we talk on the language of approximation, but we could say that foreigners might be able to buy property in Nepal in some years.
We hope that this question solved your question of “can a foreigner buy property in Nepal?.” And if the answer is yes for you, then you can visit our listings or contact us directly. We have a lot of recommendations about the property you can buy in Nepal for your business venture.
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