Location: Suite 413, Level 4, Choego Building,  Gelephu, Bhutan, 31101

 

Phone: +97577961648

 

Email: office@basnetgmc.com

 

Alt: basnet@basnetgmc.com

Location: Suite 413, Level 4, Choego Building,  Gelephu, Bhutan, 31101

 

Phone: +97577961648

 

Email: office@basnetgmc.com

 

Alt: basnet@basnetgmc.com

/ ABOUT THE FIRM

The First Law Firm Incorporated in the Gelephu Mindfulness City

ChoeGo building, Gelephu Mindfulness City, where Basnet Law Pte. Ltd. has its office (Suite 413)

The ChoeGo building is not owned by Basnet Law Pte. Ltd. The firm's office is located inside the building, at Suite 413, Level 4.

Basnet Law Pte. Ltd. is the first law firm incorporated in the Gelephu Mindfulness City, the Special Administrative Region that the Kingdom of Bhutan created by Royal Charter in 2024 with its own legislature, its own courts and its own financial services statute. We were formed for one purpose: to give the founders, funds, digital asset firms, family offices and international groups choosing GMC a law firm that is based in GMC, reads the statutes as they are written, and practises to the standard those clients expect from Singapore, Abu Dhabi or London.

That ambition is international in its design. GMC's statute book draws on the common law of established common law jurisdictions and the rulebooks of an established international financial centre, its currency of account is the United States dollar, and one regulator licenses banks, insurers, fund managers, exchanges and custodians alike. Our clients arrive from every major financial centre, and we work alongside their existing counsel in India, the United States, Germany, Singapore and China so that a GMC structure fits the group it belongs to. Our office is in the ChoeGo GMC building in Gelephu, and our affiliated firm, Basnet Attorneys & Law, serves mainland Bhutan from Thimphu.

What we do

Company formation and redomiciliation. Legal advice on incorporation, constitutions, the resident director and secretary requirements, and the transfer of existing companies into GMC without liquidation.

Financial services licensing. Legal advice on Financial Services Permissions for banks, fund managers, exchanges, custodians, stablecoin issuers, payment firms and insurers, from scoping through the licensing process.

Digital assets. Legal advice on virtual asset service providers, exchange and custody licences, fiat-referenced tokens, tokenisation of real-world assets, and the regulatory perimeter for DeFi and DAO structures.

Tax incentives. Legal advice on founders company and strategic and development company status, advance rulings, and the reliefs that close to new approvals on 31 December 2030.

Funds, family offices and wealth. Legal advice on fund vehicles and managers, family offices, trusts and succession planning for families relocating capital to GMC.

Work passes and immigration. Legal advice on work passes, residency routes and the resident-director requirement for founders and their teams.

Employment, contracts and land. Employment contracts and HR policies under the Employment Act, commercial contracts under GMC law, and legal advice on site leases.

Compliance and disputes. Legal advice on AML and sanctions programmes and MLRO and approved person requirements, regulatory investigations, and dispute resolution and arbitration before GMC's courts.

Our Vision

Our vision is for the Gelephu Mindfulness City to be known, within its first decade, as a jurisdiction where the law is clear and the legal advice available locally is as good as anywhere in the world. We intend to be a firm whose legal work in GMC is recognised in the financial centres our clients come from.

Basnet Law Pte. Ltd.
About Basnet Law Pte. Ltd.

Our Mission

Our mission is to give every client who chooses the Gelephu Mindfulness City a firm that understands both the statute book and the world the client comes from. We advise on entity choice, licensing, tax, work passes, contracts and compliance, and remain available as counsel once the business is running. We take the responsibility of being GMC's first incorporated law firm seriously, and we measure ourselves against the standards of the jurisdictions whose law GMC has adopted.

Our Philosophy

Integrity. We say what the law provides and what it does not, and we never promise a regulatory outcome that belongs to the regulator to decide.

Excellence. GMC's law is drawn from established common law jurisdictions and international financial centres. We hold ourselves to the standard of practice in those centres and keep pace with every new Act, rulebook and regulation as the city's legal framework grows.

Client first. We listen to the commercial objective before we open a statute. Advice is direct, priced in advance and delivered in plain language, and we would rather tell a client that GMC is not the right fit than take on work that does not serve them.

Built for a new jurisdiction. We are early, and so are our clients. We treat that as a responsibility: to document carefully, to state the law accurately, and to help build the practice standards that a new financial centre needs.

At a glance

The firm in numbers, the clients we act for, and why they choose us

  • Firstlaw firm incorporated in GMC
  • 13GMC Acts we practise under, all in English
  • 8priority industries, one body of entry law
  • 15% / 0%company tax / non-citizen individuals to 2030
  • 1 to 2GMC Acts on which we advise

Who we work with

  • Investors and founders entering GMC

    Legal advice on the expression of interest, entity choice, incorporation, land leases, banking, work passes and tax approvals.

    Enquiry form
  • Financial institutions and fintech

    Banks, payment firms, brokers and asset managers applying to GFSO, including the accelerated review pathway for firms licensed in an established financial centre.

    Fintech lawyers in GMC
  • Digital asset businesses

    Exchanges, custodians, stablecoin issuers, tokenisation platforms, miners and treasury companies under the Financial Services Act 2025.

    Crypto and Web3 lawyers in GMC
  • Funds, managers and family offices

    Variable capital companies, licensed and foreign-recognised managers, the four-week no-objection route and the fund and family office tax exemptions.

    Funds and family offices guides
  • International law firms

    GMC local counsel for instructing firms: conflict-checked scope, opinions that cite the Act and the section, filings from Gelephu and reliance letters for lenders and exchanges.

    For international law firms
  • Employers and individuals relocating

    Employment contracts under the Employment Act 2025, work passes under the Employment of Foreign Workforce Act 2025, the Digital Nomad Visa and personal tax planning.

    GMC legal glossary

Why clients choose Basnet Law

  1. On the ground in Gelephu. Our office is in Gelephu. We advise on financial services regulation in GMC.
  2. Advice that cites the Act. Every opinion cites the section and states what the provision provides, so investors, lenders and regulators can check it.
  3. Fixed fees agreed in writing before work starts. A defined scope for an opinion or a piece of advice; an estimate for advisory work; registry and regulator fees at cost.
  4. Legal advice from one team. Perimeter, entity, licence, bank account, land, work passes, tax approvals and ongoing compliance, with dates fixed at the start.
  5. Contemporary practice. Digital assets, fintech, funds and cross-border structures are the matters we handle most, and we deal with the most sensitive and the most serious legal issues our clients face.

Investment enquiry formGMC law libraryGMC legal glossary