USD business account in Nepal
A Nepali company receives US dollars through a bank in Nepal, under foreign exchange rules set by Nepal Rastra Bank, because most foreign USD account providers do not accept Nepali companies and opening accounts abroad needs central bank approval. Mercury does not serve founders living in Nepal, Airwallex does not list Nepal, and Nepal Rastra Bank has declared cryptocurrency transactions illegal. This guide covers the bank route, the rules for exporters and IT firms, what to give a payer and the documents you need.
- Nepal Rastra Bank (NRB) sets Nepal's foreign exchange rules, and the Nepali rupee has been pegged to the Indian rupee at 160 rupees per 100 Indian rupees since 1993.
- Nepali banks receive export proceeds by SWIFT and issue an advance payment certificate that exporters present to customs when they ship.
- IT and service exporters may use foreign currency for set purposes up to 10% of the previous year's foreign currency earnings, capped at 20% of taxable income, and opening a foreign account under that facility needs separate approval.
- Mercury states it cannot open accounts for founders living in Nepal, Airwallex does not list Nepal as a registration location, and Nepal is not on Wise's list of countries where money can be held.
- Nepal Rastra Bank has stated that the transaction, usage and mining of cryptocurrency is illegal in Nepal.
- Helm does not currently provide USD account details to companies based in Nepal, and its USDC and USDT features are not available where local law prohibits them.
USD business accounts in Nepal: the short answer
For a company based in Nepal, the bank in Nepal is the main route for US dollars. Buyers and clients abroad pay the company's Nepali bank by SWIFT, the international network banks use to send cross-border payments, identified by an 8 or 11 character bank code. The bank handles the foreign currency under rules set by Nepal Rastra Bank (NRB), the central bank, and issues the certificates exporters need for customs and tax.
Routes that work in other countries are narrower here. Opening an account abroad under NRB's facilities for exporters needs separate approval. Several foreign providers that issue USD account details with a US routing number, the 9 digit code that identifies a bank in the United States, do not accept Nepali companies or founders living in Nepal. A US routing number would let a US client pay by ACH, the low-cost US domestic transfer system, but a Nepali bank account is paid by international wire instead.
This guide covers the NRB rules, how exporters and IT firms receive dollars through Nepali banks, what to give a payer, which foreign providers accept Nepal according to their own pages, the US company route, documents and the crypto ban.
The options compared
The table compares routes, not providers, and is not a ranking.
| Nepali bank | Foreign provider with US details | US company | |
|---|---|---|---|
| Account holder | Nepali company | Nepali company, if the provider accepts Nepal | US company |
| Account details | Nepali account number and SWIFT code | US routing and account number | US routing and account number |
| How a US client pays | International wire (SWIFT) | ACH or wire | ACH or wire |
| NRB position | The standard route for export proceeds | An account abroad needs NRB approval | Investment abroad needs NRB approval; providers such as Mercury do not serve founders living in Nepal |
| Fits best | Exporters, IT and service firms, importers | Rarely available to Nepali companies | Groups with real US operations and US-based management |
Source: Helm Editorial Team, drawing on the NRB-related sources, bank and provider pages cited in this guide, as published on 29 October 2026.
How to choose: for almost every Nepali exporter, IT company or agency, the answer is a Nepali bank that is experienced with export receipts, plus clear payment instructions for clients abroad. Our guide on how to receive USD from overseas buyers explains what a payer needs and how long wires take.
Nepal Rastra Bank's foreign exchange rules
Nepal manages foreign exchange closely. NRB's Foreign Exchange Management Department issues the rules, and banks apply them to each payment. The points below come from NRB circulars as reported by Nepali business media and advisers.
| Area | Rule as reported | What it means for a company |
|---|---|---|
| Exchange rate | The Nepali rupee has been pegged to the Indian rupee at NPR 160 per INR 100 since 1993 | The rupee's dollar rate follows the Indian rupee's dollar rate |
| IT and service exporters | May use foreign currency for set purposes, such as contact offices abroad and software purchases, up to 10% of the previous year's foreign currency earnings, capped at 20% of taxable income | Part of earnings can fund costs abroad; accounts abroad under this facility need separate approval |
| Prepaid dollar cards | Standard IT businesses USD 3,000 a year for online service purchases; eligible exporting companies USD 5,000 under Unified Circular 2082 | Covers software subscriptions and online services |
| Investment abroad by IT firms | Up to 50% of average foreign currency earnings from IT service exports over the past three fiscal years, capped at USD 1 million, whichever is lower | A route to set up a foreign subsidiary, with NRB rules |
| Paying for services from abroad | Under NRB Circular No. 11/2080 (6 January 2024), central bank approval is required to pay USD 5,000 or more where no sector regulator exists | Large outbound service payments need approval |
Sources: OnlineKhabar (15 January 2024); ShareSansar (8 August 2023); ICT Frame (8 April 2026); Khabarhub (19 June 2025); NBSM, Norms for repatriation of payment for services. As published on 29 October 2026. Confirm the current rule with your bank, because NRB updates its unified circulars each year.
The practical result is that dollars earned by a Nepali company come home to a Nepali bank, and spending them abroad follows set limits and approvals. Ask your bank which foreign currency account your company qualifies for, how long proceeds can be held in foreign currency, and which documents it needs for each type of receipt.
Receiving export proceeds through a Nepali bank
Nepali banks publish how they handle export payments. Kumari Bank, for example, sets out the following for exporters.
| Point | Kumari Bank, export collection, as published |
|---|---|
| Before exporting | Company registration, PAN number, a bank account, VAT registration, an export contract, a proforma invoice and an EXIM code |
| Advance payment | The bank issues an Advance Payment Certificate once the buyer's payment arrives; exporters present it to customs during export |
| Cash against documents | NRB permits exports to countries other than India without a letter of credit, up to USD 500,000 equivalent |
| Security deposit for cash against documents | Up to 1% of the total export value, which the bank may release after payment is realized |
| Permit application documents | Firm registration, PAN certificate, sales contract or proforma invoice, and transit insurance for at least the invoice value |
| Letter of credit | The importer's bank irrevocably commits to pay if the exporter complies with the terms |
Source: Kumari Bank, Export Collection, as published on 29 October 2026. The page does not publish fees; ask the bank for its current tariff.
A PAN is the Permanent Account Number, Nepal's tax registration number. The EXIM code is the code exporters and importers register for foreign trade. Cash against documents means the buyer's bank releases the shipping documents only when the buyer pays. A letter of credit is a bank's promise to pay the seller once the shipping documents match the terms. For service exports, such as software and design work, the bank asks for the contract or invoice behind each receipt.
What to give a payer
A client abroad pays a Nepali bank by SWIFT. Send every item below in one document on company letterhead.
| Detail | What to give | Why it matters |
|---|---|---|
| Beneficiary name | The company name exactly as registered with the bank | A name mismatch can cause the payment to be held or returned |
| Beneficiary address | The company's registered address in Nepal | Banks screen the address for sanctions |
| Bank name and SWIFT code | Your bank's 8 or 11 character code | Identifies your bank on the SWIFT network |
| Account number | The account the bank tells you to use for foreign currency receipts | The bank applies NRB rules to the receipt |
| Intermediary bank | Your bank's US correspondent and its SWIFT code, if your bank gives one | USD payments to banks outside the US usually pass through a US correspondent |
| Charge code | OUR, SHA or BEN | Decides who pays the bank charges along the way |
| Purpose and reference | The invoice number and a short description of the goods or services | Helps the bank classify the receipt as export income |
Source: Helm Editorial Team, as published on 29 October 2026. Confirm the exact payment instructions with your bank.
A correspondent bank is a bank that holds an account for another bank and settles payments in its currency. OUR means the sender pays all charges, so the full amount should arrive. SHA means charges are shared, so intermediary banks may deduct fees on the way. BEN means the receiver pays all charges. For invoices that must be paid in full, agree OUR in the contract.
Foreign USD account providers and Nepal
Eligibility is set by each provider, and Nepal is excluded by several of them.
| Provider | What its own pages state for Nepal | What it means |
|---|---|---|
| Mercury | Unable to open accounts for founders living in Nepal, which is on its prohibited countries list, even when the company is formed in the US | A US company does not unlock Mercury for founders in Nepal |
| Airwallex | Nepal is not on its list of supported business registration locations | Not available to Nepal-registered companies |
| Wise | Nepal is not on its list of countries where customers can hold money | A Nepali company cannot hold balances with Wise |
| Helm | Does not currently provide USD account details to companies based in Nepal | Not available to Nepal-based companies at present |
Sources: Mercury, prohibited countries; Airwallex, eligible countries and territories; Wise, where can I open a Wise balance; Helm. As published on 29 October 2026. Lists change; check each provider's page before applying.
Our guide to countries Mercury does not serve covers how these lists are applied, including that Mercury looks at where founders and financial controllers live, not their passports. Even where a provider accepts a company, holding money in an account abroad is a separate question under NRB rules.
The US company route
Some founders form a US company to sell to US clients. In Nepal's case this route has two limits. First, NRB rules govern investment abroad by Nepali residents and companies, and the IT firm route above sets a cap of USD 1 million or 50% of average earnings. Second, US account providers apply their own country lists to founders: Mercury states it cannot open accounts for founders living in Nepal, even when the company is formed in the US.
A US company also needs an Employer Identification Number (EIN), the US federal tax number for a business. The IRS instructions for Form SS-4 state that applicants with no principal place of business in the United States may call 267-941-1099, and that only international applicants can receive an EIN by telephone. Take advice from a Nepali lawyer and tax adviser before forming one, and confirm with NRB or your bank how the investment is approved and reported.
Cryptocurrency and stablecoins in Nepal
Stablecoins are digital tokens designed to hold a steady value against a currency such as the US dollar. USDC and USDT are the two most widely used dollar stablecoins. In Nepal, the central bank's position is a ban.
| Date | Measure | What it states |
|---|---|---|
| 13 August 2017 | NRB notice | Restricted Bitcoin transactions in Nepal, applying Nepal's foreign exchange regulation law of 1962, according to a 2022 legal commentary |
| September 2021 | NRB notice from the Foreign Exchange Management Department | The transaction, usage and mining of cryptocurrency is illegal in the country; stringent action will be taken under the law |
Sources: The Himalayan Times, NRB issues notice on cryptocurrency (10 September 2021); OnlineKhabar, Cryptocurrency in Nepali law: your FAQs answered (17 September 2022). As published on 29 October 2026.
For a Nepali company, this means USDC and USDT are not a lawful way to receive payment for exports or services. Ask clients abroad to pay by bank transfer to your Nepali bank.
Where Helm fits, and where it does not
Helm is a financial technology company, not a bank. Accounts are held with regulated partner institutions. Helm does not currently provide USD account details to companies based in Nepal. A Nepali company should use a Nepali bank for its US dollar receipts, under NRB rules.
Helm accounts can receive, send and convert USDC and USDT, but these features are available only where local law allows. NRB has declared cryptocurrency transactions illegal, so they are not available to a Nepal-based company. Ask about current eligibility through Helm's contact page; general rules are on the eligibility page. For a neighboring market with different rules, see our guide to a USD business account in India.
Open a Helm account
USD, EUR and GBP accounts in your company's name, with a named account manager.
Open accountQuestions
Can a Nepali company have a USD account?
A Nepali company receives US dollars through a bank in Nepal under Nepal Rastra Bank rules. Ask the bank which foreign currency account the company qualifies for and how long proceeds can be held in dollars.
Can a Nepali company open a bank account abroad?
Only with approval. NRB facilities for IT and service exporters allow foreign currency use up to set limits, and opening a foreign account under that facility needs separate approval.
Is the Nepali rupee pegged?
Yes, to the Indian rupee, at NPR 160 per INR 100 since 1993. The rupee's rate against the US dollar therefore follows the Indian rupee's dollar rate.
Can I use Mercury from Nepal?
No. Nepal is on Mercury's prohibited countries list, and Mercury states it cannot open accounts for founders living in listed countries, even when the company is formed in the US.
Can a Nepali company use Wise or Airwallex?
Nepal is not on Wise's list of countries where money can be held, and Airwallex does not list Nepal as a supported registration location. Check both lists directly, because providers update them.
Is crypto legal in Nepal?
No. Nepal Rastra Bank has stated that the transaction, usage and mining of cryptocurrency is illegal in Nepal and that stringent action will be taken against those involved.
What do I give a foreign client to pay my Nepali company?
Give the exact company name and address, the bank name and SWIFT code, the account number the bank specifies for foreign currency receipts, any US intermediary bank, the charge code and the invoice number.
How much can a Nepali IT company spend abroad in dollars?
Under Unified Circular 2082, eligible exporting companies may load up to USD 5,000 a year on prepaid dollar cards, against USD 3,000 for standard IT businesses. Separate facilities allow foreign currency use up to 10% of the previous year's foreign currency earnings.
Does Helm offer USD accounts to Nepali companies?
Helm does not currently provide USD account details to companies based in Nepal. Its USDC and USDT features are available only where local law allows, and Nepal Rastra Bank has declared cryptocurrency transactions illegal.
References
- The Himalayan Times: NRB issues notice on cryptocurrency (10 September 2021)
- OnlineKhabar: Cryptocurrency in Nepali law, your FAQs answered (17 September 2022)
- OnlineKhabar: Fixed pegging exchange rate in Nepal (15 January 2024)
- Kumari Bank: Export Collection
- ShareSansar: Foreign exchange facilities for IT and service exporting businesses in Nepal (8 August 2023)
- ICT Frame: NRB IT export forex limit increased to $5,000 in Unified Circular 2082 (8 April 2026)
- NBSM: Norms for repatriation of payment for services (NRB Circular No. 11/2080)
- Mercury: Prohibited countries
This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.