Nepal lawmakers propose dedicated casino regulator in Tourism Bill overhaul
The proposed amendments also include stricter ownership transparency, enhanced AML requirements and potential changes to foreign ownership rules.
Nepal.- Lawmakers have proposed 263 amendments to the country’s Tourism Bill, with casino-related provisions attracting the largest share of proposed changes. Key proposals include the creation of an independent Casino Regulatory Unit to oversee the industry, replacing the current regulatory model under the Ministry of Culture, Tourism and Civil Aviation. Lawmakers say such a move would improve supervision and tax collection.
Other proposals seek to strengthen anti-money laundering measures by introducing mandatory KYC procedures, real-time monitoring by the Financial Intelligence Unit, Suspicious Transaction Reports and a dedicated AML compliance officer at every casino.
Lawmakers are also debating changes to foreign ownership rules. While Nepal currently allows up to 90 per cent foreign ownership of casino businesses, some amendments would cap foreign participation at 49 per cent, while others would require between 25 and 30 per cent local ownership of the hotel or resort where a casino operates.
Other proposals include requiring operators with multiple casinos under a single licence to separate those businesses into individual companies within a transition period. Some legislators have called for easing restrictions on casino licensing by creating designated casino zones.
The House committee will now review and consolidate the proposed amendments before the bill moves forward in the legislative process.
