Anti-Money Laundering (AML) encompasses a framework of laws, regulations, and procedures aimed at preventing individuals from concealing illegally acquired funds as legitimate earnings. This initiative operates on a global scale, targeting financial crimes such as corruption, drug trafficking, terrorism financing, and tax evasion. Objectives of AML Key Features of AML Implementation of AML in Nepal … Read more
Nepal’s Politics and Investment Risk Indicators Nepal is a federal democratic republic country, which means the country is divided into regions with their own local governments. The system follows a parliamentary democracy, where the President holds a ceremonial role and the Prime Minister is the leader of the government. The country follows the 2015 Constitution, … Read more
The Industrial Enterprise Act, 2073 B.S. represents a crucial legislative framework established by the Government of Nepal to oversee and foster the development of industrial enterprises. Its primary objective is to cultivate a favorable investment climate, stimulate industrial advancement, and ensure sustainability while protecting the rights of all stakeholders involved. The following outlines the major … Read more
Challenges in Nepal’s International Trade International trade is not favorable to Nepal because it is a landlocked country with no access to the sea. This makes transportation of goods expensive and slow. Nepal also depends heavily on imports and has only a few products to export. Most of its trade is with India, which makes … Read more
The Industrial Enterprises Act serves as a fundamental piece of legislation governing industrial operations in Nepal. It establishes the legal framework necessary for the formation, functioning, and administration of industrial enterprises within the nation. The following outlines the principal features of the Act: Industrial Registration and Licensing The Act mandates that all industrial enterprises must … Read more
An unpaid seller is someone who has sold goods but has not received full payment for them or whose payment has been dishonored, like a bounced cheque. The Sale of Goods Act, protects the rights of an unpaid seller to ensure they can recover their payment or control the goods until they are paid. The … Read more
Employment Benefits encompass a variety of non-wage compensations offered to employees alongside their standard salaries or wages. These benefits aim to improve the overall health, security, and job satisfaction of the workforce. They typically include health insurance, retirement contributions (such as provident funds and gratuities), paid leave (including annual leave, sick leave, and maternity/paternity leave), … Read more
Industrial sector of Nepal The industrial sector in Nepal plays a vital role in the country’s economic development, contributing to job creation, income generation, and overall GDP growth. It encompasses various industries, including manufacturing, construction, mining, and services. The current Industrial situation of Nepal are as follows: i. Contributes around 13-15% to Nepal’s GDP.ii. Predominantly … Read more
The Labor Act of 2074 (2017) in Nepal serves as an extensive legal framework aimed at governing labor relations and safeguarding the rights of employees. The following are its key provisions: Scope and Applicability The Labor Act, 2074 is applicable to all organizations and entities that employ workers, encompassing businesses, industries, both private and public … Read more
The Consumer Protection Act of 2018 (2075), which came into effect in September 2018, serves as the primary legislation in Nepal aimed at safeguarding consumer interests concerning the quality, pricing, and availability of goods and services. This Act was established to rectify the deficiencies found in the Consumer Protection Act of 1998. Key features of … Read more