Banking and Finance: Legal Advisory

Lending into or out of the Gelephu Mindfulness City turns on a question that is easy to get wrong: whether what you are doing is a regulated activity, and if so what perfecting your security and withholding on interest actually require. Basnet Law Pte. Ltd. is the first law firm incorporated in GMC.

Banking licence applications for Accepting Deposits, which may be made by a body corporate or a partnership.

Perimeter advice on Providing Credit, Arranging Credit and Providing Money Services, and the exclusions that take activity outside them.

Loan and security documentation under GMC law, including registration of charges within 30 days.

Financial assistance restrictions for public companies and their subsidiaries.

Withholding on interest paid to non-residents, and approved foreign loan applications.

Legal opinions on capacity and enforceability for lenders taking GMC-law security.

International banks establishing a GMC deposit-taking subsidiary. Private credit funds and non-bank lenders lending into GMC. Borrowers raising USD debt secured on GMC assets. Payment and remittance businesses that need to know whether they are taking deposits.