Introduction – NRN Property Rights in Nepal
For Non-resident Nepalis (NRNs) contemplating investments in their homeland through property transactions, this article offer a comprehensive understanding of the processes, regulations, and essential considerations involved in buying or selling land in Nepal with detailed information regarding NRN Property Rights in Nepal.
Before delving into property transactions, it is essential to outline the foundational prerequisites for Non-resident Nepalis (NRNs). The key requirement is, NRNs or their immediate family members must not currently own land in Nepal. This condition is implemented to uphold fair regulations in property acquisition by overseas citizens, ensuring an equal opportunity for all potential investors.
Application Process and Required Documentation
When NRNs decide to purchase property, the application process involves the Ministry of Foreign Affairs. The documentation required includes:
- NRN Identification Card
- Foreign Citizenship Certificate and Passport Copies
- Lalpurja/Landlord Land Registration Certificate with a Photocopy
- Seller’s Citizenship Copy
- Trace Map Blueprint (Including House Map if Applicable)
- Tax Payment Receipt for the Fiscal Year
- House Completion Certificate Copy
- Duly Filled Land Purchase Form
Specific Details to be Filled Out
Applicants must provide detailed personal information, including:
- Personal Details: Name, Surname, Year of Birth, Nationality, Foreign Citizenship Information, and Current Residing Country’s Address.
- NRN Identity Card Details: ID Number and Validity Period.
- Purchase Information: Landowner’s Name, Citizenship Number, and Land/House Specifics.
Additionally, disclosure of any prior land ownership in Nepal by the applicant or their immediate family is required.
Limitations for Land Purchase by NRNs
There are specific restrictions on the amount of land an NRN can purchase:
- Kathmandu Valley: Maximum of two Ropanis.
- Terai District Municipal Area: Up to eight Katthas.
- Other Districts Municipal Areas: Up to four Ropanis.
- Terai District’s Rural Municipality Area: No more than one farm.
- Areas Outside Specifications: Up to ten plantations.
Timeline for Ownership Transfer
After applying to the Ministry of Real Estate, a decision is usually reached within a week, efficiently transferring land ownership to the applicant’s name. This quick process ensures a straightforward experience, enabling NRNs to promptly secure ownership of their intended property in Nepal.
Things to Consider
Before finalizing a property purchase, NRNs are advised to:
- Evaluate Physical and Legal Status: Ensure the property is in good condition both physically and legally.
- Land Type: Understand the type of land being purchased, distinguishing between Guthi’s and Rakier’s land.
- Proximity to Road: Verify the accessibility of the land via a motorable road.
- Plot Register Evaluation: Check land field consistency with the map at the survey office.
- Land Status Overview: Check for freezes or claims on the property.
- Joint Member Approval: Ensure approval from all joint members before purchase.
Acquiring property in Nepal as an NRN demands a thorough understanding of the legal framework and associated processes. This guide aims to simplify the journey, empowering NRNs to make informed decisions. Diligence, adherence to procedures, and awareness of the latest government guidelines are paramount for successful property ownership.