This tracker records the legal timeline of the Gelephu Mindfulness City Special Administrative Region (GMC) using the commencement dates from the instruments themselves and the legislation listed by the Gelephu Mindfulness City Authority. Basnet Law maintains it alongside the GMC Law Library.
What this guide covers
Timeline of GMC law
| Date | Event | Source |
|---|
| 10 February 2024 | Royal Charter No. 1 of 2024 granted by the Druk Gyalpo. GMC established as "a fully independent and autonomous region in the Kingdom of Bhutan" with executive, legislative and judicial authority (Art. 1). GMC Authority created (Art. 3) with power to make laws subject to Royal Assent (Art. 4). | Charter, Arts. 1, 3, 4 |
| 2024 | Application of Laws Act 2024 (Law No. 1 of 2024) enacted: the received common law and equity applied (s. 3); Schedule A applied statutes (s. 4); Schedule B applied financial services rules (s. 5); GMC Authority administers and enforces until separate bodies exist (s. 11). | Application of Laws Act 2024 |
| 26 December 2024 | Six Acts deemed to have come into operation: Companies Act 2025 (No. 1 of 2025), Customs Act 2025 (No. 2), Employment Act 2025 (No. 3), Employment of Foreign Workforce Act 2025 (No. 4), Financial Services Act 2025 (No. 5) and Income Tax Act 2025 (No. 6). Application of Laws (Amendment) Act 2025 (No. 7 of 2025) commences, deleting Schedule A items replaced by GMC Acts and inserting s. 5A and Schedule C (Bhutan sales tax laws). | Each Act, s. 1; Amendment Act 2025 |
| 1 November 2025 | Engagement of a GMCA-empanelled Corporate Service Provider (CSP) becomes mandatory for all new company incorporations through GCRO. Four CSPs empanelled: two full, two provisional (100% Bhutanese-owned companies only). | GCRO |
| 2026 | Business Names Registration Act 2026 (No. 1 of 2026), Limited Liability Partnerships Act 2026 (No. 2), Limited Partnerships Act 2026 (No. 3) and Partnership Act 2026 (No. 4) enacted and listed by the Gelephu Mindfulness City Authority. | GMC Authority legislation list |
| 30 April 2026 | GCRO waiver of the resident director / resident authorised representative and registered office requirements ends. Registrar may revoke registration of non-compliant companies and branches; registered office to be filed within one month of incorporation. | GCRO |
| 7 May 2026 | GFSO General Rulebook (GEN) 2026, Version 1.0, dated 07052026, published: Principles (Ch. 2), systems and controls (Ch. 3), location of offices (4.5), licence applications (5.2), mandatory appointments (5.5), change of control (8.8), Representative Offices (Ch. 9). | GEN Rulebook 2026 |
| 15 June 2026 | Sale of Goods Act 2026 (No. 5 of 2026) comes into operation (s. 63). Unfair Contract Terms Act 2026 (No. 6 of 2026) comes into operation (s. 30); it does not apply to contracts made before that date. Application of Laws (Amendment) Act 2026 (No. 7 of 2026) operative, deleting Schedule A items 15 and 18. | SoGA s. 63; UCTA s. 30; Amendment Act 2026 |
| June 2026 | GCRO publishes its current registry practice: fee schedule (private company US$2,000 registration and renewal; guarantee company US$500/US$250; branch US$2,000/US$2,000; sole proprietorship US$250/US$125; special UEN US$3,000); about one week processing; US$1 minimum paid-up capital; DNFBP registration list; GMCA contact emails. | GCRO |
Fixed dates already in the statute
| Date | Effect | Section |
|---|
| 31 December 2025 | End of the first-period share disposal exemption window; disposals on or after 1 January 2026 fall under s. 13W(1A). | Income Tax Act 2025, s. 13W(1), (1A) |
| 31 December 2030 | Last day for 0% rate on chargeable income of non-citizen individuals and non-resident Bhutanese citizens. | s. 43(1)(b), (ba) |
| 31 December 2030 | Last day on which a founders company may be approved. | s. 13Y(5) |
| 31 December 2030 | Last day on which a strategic and development company may be approved. | s. 43D(4) |
Series articles that track these developments
- Which Law Applies in GMC?the Application of Laws Act 2024 and its 2025 and 2026 amendments.
- Commercial Contracts in GMCthe 15 June 2026 commencement and the pre-commencement carve-out.
- Advance Rulings from the GMC Comptrollerwhat s. 108 provides.
- The Section 13O, 13OA and 13U Fund Exemptionsthe fund regime.
- The Twelve Principles for Licensed Firmsthe GEN Rulebook v1.0 in practice.
Frequently asked questions
Why are the 2025 Acts dated before they were numbered?
Each is "deemed to have come into operation on 26 December 2024" by its own commencement section, while carrying a 2025 law number.
Does the Unfair Contract Terms Act affect my existing contracts?
No. It does not apply to contracts made before 15 June 2026 (s. 30). Later contracts are subject to the reasonableness test in s. 11.
How often is this tracker updated?
Whenever an instrument is added to the legislation listed by the Gelephu Mindfulness City Authority, a GFSO rulebook version changes, or GCRO revises its published registry practice. Fees and levy rates are recorded when published and revised from time to time.
You may contact Basnet Law at basnet@basnetgmc.com or office@basnetgmc.com for any legal queries related to GMC.
References
- Royal Charter No. 1 of 2024, Arts. 1, 3, 4
- Application of Laws Act 2024, ss. 3, 4, 5, 5A, 11, Schedules A–C; Application of Laws (Amendment) Acts 2025 and 2026
- Companies Act 2025, Customs Act 2025, Employment Act 2025, Employment of Foreign Workforce Act 2025, Financial Services Act 2025: s. 1 (commencement)
- Income Tax Act 2025, ss. 13W, 13Y(5), 43(1)(b), 43(1)(ba), 43D(4), 108
- Sale of Goods Act 2026, s. 63; Unfair Contract Terms Act 2026, ss. 11, 30
- GEN Rulebook 2026 (v1.0, 7 May 2026)
- GCRO FAQ for GMCA Entities (3 June 2026, v0.2), Gelephu Corporate Registration Office
