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Nepal

The ISO code of Nepal is NP according to the ISO 3166 standard. The local name of the country is the same as its English name. Nepal capital city is Kathmandu. People in Nepal speak the Nepali language. In the year 1768, Nepal emerged as a sovereign political entity. The largest city in Nepal is Kathmandu.

Nepal is located in the UTC +05:45 time zone, which is also called Nepal Time or NPT. The internet country code top-level domain (ccTLD) for Nepal is .np. Other domains assigned to Nepal are .asia. The International dialing code for Nepal is 977. People in Nepal drive on the left side of the road. Total land area of Nepal is 147,181 km² (approx. 56,827 mi²). Nepal is a landlocked country.

A view in Nepal

Nepal is located in Asia. Nepal is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.

Currently Nepal faces various issues, including deforestation (overuse of wood for fuel and lack of alternatives), contaminated water (with human and animal wastes, agricultural runoff, and industrial effluents), wildlife conservation, vehicular emissions.

Doing business in Nepal

We offer various corporate services in Nepal jurisdiction. These services can serve both, people coming from Nepal and foreigners. If you plan on doing business in Nepal you might be interested in contacting us.

To find out about starting your business in Nepal click on company formation in Nepal.

To find out how to open a bank account in Nepal and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Nepal.

Choose preferred service below or continue reading to find out more about Nepal.

Company formation Bank account (Corporate)Available banks Bank account (Private)

Demographics of Nepal

The total population of Nepal is 29,624,035 people. In Nepal, the population density is 180 people per square kilometer (468 per square mile). Because of this statistic, this country is considered to be densely populated. The ethnic diversity is rather diverse according to a fractionalization scale which for Nepal is 0.6632. Nepal has approximately 971247 foreign immigrants. The median age is approximately 22.9 years. In Nepal, 11.15 in every 100 people use internet. Nepal has a Human Development Index (HDI) of 0.54.

The majority religion of Nepal is Hinduism, Nepal is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Nepal.

Culture of Nepal

People in Nepal speak the Nepali language. According to data on inbound tourists in Nepal, 798,000 tourists arrive in the country each year. One of the most popular national dishes of Nepal is dal bhat. To read more click on culture of Nepal.

Geography of Nepal

Nepal is considered to be a large nation because of its total area. Its total land area is 147,181 km² (approx. 56,827 mi²). Nepal is located in Asia. Its capital city is Kathmandu. Nepal has 2 neighbouring countries. Its neighbours include People's Republic of China, and India. Total length of land borders of Nepal is 3159 kilometers (~1,220 miles).

The highest point of Nepal is Mount Everest, with its official height being 8848 m (29,030 ft). Including land mass and EEZ, the total area of Nepal is approximately 147,181 km² (~56,827 mi²). The most notable natural resources found in Nepal are quartz, water, timber, hydropower, scenic beauty, lignite, copper, cobalt, iron ore.To read more click on geography of Nepal.

Economy of Nepal

The currency of the country is Nepalese rupee. The symbol used for this currency is ₨, and it is abbreviated as NPR. 2.7% of population in the country are unemployed. The total number of unemployed people in Nepal is 799,849. Each year, Nepal exports around $1.06 billion and imports roughly $6.33 billion. The Gini Index of the country is 32.8. Nepal has a Human Development Index (HDI) of 0.54.The Global Peace Index (GPI) for Nepal is 1.878. Nepal has a government debt of 58.69% of the country's Gross Domestic Product (GDP), as assessed in 2013. Nepal is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are tourism, carpets, textiles, small rice, jute, sugar, and oilseed mills, cigarettes, cement and brick production.

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Nepal is $67,137 billion. Each year, consumers spend around $10,168 million. The ratio of consumer spending to GDP in Nepal is 0%, and the ratio of consumer spending to the world consumer market is 0.0293. The corporate tax in Nepal is set at 20%. Personal income tax ranges from 15% to 25%, depending on your specific situation and income level. VAT in Nepal is 13%. In 2013, Nepal received 769.7 million USD in foreign aid.In 2014, the foreign aid amounted to 884.7 USD.To read more click on economy of Nepal.

Infrastructure of Nepal

Infrastructure quality in Nepal is rated to be at 2.26. It indicates a mediocre quality - roads, railroad, ports and other facilities are able to handle somewhat significant traffic, but not enough to ensure smooth transit at all times.

In Nepal, 76.3% of the population has access to electricity. There are 41,256 internet hosts in Nepal. Nepal has 47 airports nationwide.

The logistics performance index of Nepal is 2.59. It indicates a satisfactory performance - in general, traffic is handeled well, some flaws in certain areas are possible, but overall the logistics system performs reliably and is ready to handle predictable amounts of traffic.

Tracking possibilities for shipments are rated at 2.72. It indicates a satisfactory performance - the tracking systems provide all the basic information as well as additional data about shipments; most of the times it also has a weel established cooperation with foreign and international tracking systems, as well as usually provides information in multiple languages.

To read more click on infrastructure of Nepal.

Politics of Nepal

Nepal, is a federal parliamentary republic. With regard to political and civil freedoms, Nepal is 2. Citizens in Nepal experience partial freedom. While the majority of citizens are able to exercise their free will to a certain extent in Nepal, some political engagement may be limited and certain population groups may be excluded from certain freedoms or expressions. The head of the government is Bidhya Devi Bhandari.

According to the World Bank Group, the government effectiveness index of Nepal is -0.83. This indicates that the government of Nepal is ineffective. Public and civil services are severely handicapped, leading to potential for social and political upheaval.In Nepal, the legislative power is vested in a Constituent Assembly. The Global Peace Index (GPI) for Nepal is 1.878. The strength of legal rights index for Nepal is 6. Overall, it is considered to be rather adequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders at least decently; credit information is msotly sufficient and generally available. In 2013, Nepal received 769.7 million USD in foreign aid. In 2014, the foreign aid amounted to 884.7 USD. Nepal is a member of the United Nations (UN). On 14 December 1955, it joined the UN as a full member state. Nepal is a member of the World Bank. To read more click on politics of Nepal.

Environment of Nepal

Nepal emits 0.2 metric tons per capita of CO2. 36360 km² of Nepal's territory is covered in forests. and forest land comprises 25% of all the land in the country. To read more click on environment of Nepal.

Company formation in Nepal

The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Nepal.

When establishing a company in Nepal, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Nepal that will affect the establishment and growth of one's business. Contact us or click on company formation in Nepal to read additional information when setting up a business.

Bank account opening in Nepal

With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Nepal. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.

When considering opening a bank account in Nepal, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Nepal or contact us.