The Government of Nepal has announced additional foreign exchange facilities for companies exporting software and information technology (IT) services, aiming to boost foreign currency inflow.
Nepal Rastra Bank, through its “Unified Circular–2082,” has introduced a new provision allowing IT exporters to access prepaid dollar cards worth up to USD 5,000 annually to ease business operations.
While regular IT firms are permitted to spend up to USD 3,000 per year on online service purchases, the central bank has adopted a more flexible approach for export-oriented companies. Based on the foreign currency they earn, these firms can receive an additional USD 2,000 facility, bringing the total allowable limit to USD 5,000.
This initiative is expected to particularly benefit Nepali startups and software companies working in international markets. It will enable them to reinvest part of their earnings into business expansion, including expenses for cloud storage, server hosting, and essential software purchases, thereby improving their global competitiveness.
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