Financial Isolation in Nepal

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moviegeekjn Active member

Member since 07 February 2014

moviegeekjnActive member20 May 2014 14:01:26

Nepal is its own entity financially in many ways--the most obvious being how Nepali rupees being valid ONLY within the country.

I discovered another area--at least for U.S. citizens who have investments in their portfolios (including IRA accounts). Nepal is on the SEC restricted list. This applies throughout all brokerages, so if you become a resident of Nepal, your brokerage will liquidate your equities so you will have only cash in the account.

There are legal ways around this. So if you fit into this category, I suggest seeing a lawyer to figure the best way to handle this situation.

jmkrsna New member

Member since 12 May 2013

jmkrsnaNew member21 May 2014 20:37:24

OMG. So glad u found this out in time. When u say a lawyer, do u mean one in Nepal or in the U.S.? The U.S. lawyers I know wouldn't have a clue. When u say reside, I am presuming u mean permanent resident. I know this is obvious, but the only dumb question is one that is not asked!

moviegeekjn Active member

Member since 07 February 2014

moviegeekjnActive member23 May 2014 17:48:24

I am speaking of protecting US financial assets (specifically investments in the stock market)--so that means a U.S. lawyer. If you are only visiting Nepal, I don't believe there are any significant legal challenges, BUT if you plan to become an ex-pat and reside in Nepal, you need to take legal steps to ensure any financial assets you have in the U.S. are taken care of properly.聽 Since individual's all have different circumstances, I can only comfortably say that you should consult a lawyer.

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