Kathmandu, Aug 7: The Department of Land Management and Archives has reminded businesses that a licence is now mandatory for carrying out high-value real estate transactions.
The department has asked firms, companies and institutions planning to engage in large property transactions in metropolitan and sub-metropolitan cities to submit online applications within 21 days.
According to a public notice issued by the department, any firm, company or institution intending to conduct a single land or property transaction worth more than Rs 30 million in metropolitan and sub-metropolitan areas must obtain a licence.
Interested applicants must apply through the department’s online system.
The department has also fixed licence fees based on the value of transactions. Firms conducting transactions worth up to Rs 50 million in a single deal must pay a licence fee of Rs 500,000, while those handling transactions exceeding Rs 50 million must pay Rs 1 million.
The department clarified that firms, companies and institutions that had previously submitted online applications but failed to obtain licences by the end of the last fiscal year must reapply under the new notice.
Applicants are also required to submit printed copies of all documents uploaded through the online application system.
In addition, after registering the application, directors of the concerned company or institution must provide a certificate issued on the basis of records maintained by the Nepal Police Central Criminal Information Archive confirming that they are not involved in criminal activities.
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