Corporate & Commercial Lawyer | Regulatory Advisor | Founder, Basnet Attorneys & Law
Tika R. Basnet is a corporate and regulatory lawyer in Bhutan. He is a Bar-certified attorney (Bar Council of Bhutan) and holds an LLB and PGDNL from the Jigme Singye Wangchuck School of Law. He founded Basnet Attorneys & Law, a full-service commercial law firm in Thimphu, and Basnet Law Pte. Ltd., the first law firm incorporated in the Gelephu Mindfulness City. He works with domestic enterprises, multinational companies, international law firms and development institutions operating in or entering Bhutan and GMC.
His work covers entity formation, foreign direct investment, cross-border transactions and legal due diligence, commercial contracts, taxation, financial services licensing and technology law, including fintech, artificial intelligence and virtual assets. In the Gelephu Mindfulness City he advises on incorporation under the Companies Act 2025, licence applications to the Gelephu Financial Services Office under the Financial Services Act 2025, tax treatment under the Income Tax Act 2025, and the licensing and structuring of virtual asset service providers. He is regularly consulted on regulatory compliance, government licensing and legal structuring by start-ups, established companies and institutions.
FOCUS AREAS & PRACTICE STRENGTHS
Corporate Law, Entity Formation & Structuring
Cross-Border Transactions, Due Diligence & Joint Ventures
Foreign Direct Investment (FDI) & Regulatory Approvals
Financial Services Licensing (GFSO and Bhutan)
Taxation & GMC Tax Incentives
Virtual Asset Service Provider (VASP) Licensing & Digital Asset Regulation
FinTech & AI Legal Advisory
Commercial Contracts & Technology Law
Dispute Resolution & Arbitration
Governmental and Institutional Legal Advisory
GMC Advisory & Market Entry
SELECTED ENGAGEMENTS
Mr. Basnet has advised on the following matters. Further information is available on request.
Gelephu Mindfulness City & Digital Assets
Virtual Asset Service Providers: Advised multiple VASPs on licensing, corporate structuring and compliance in the Gelephu Mindfulness City and Bhutan.
Financial Services Licensing: Handled licence processing with the Gelephu Financial Services Office for applicants under the Financial Services Act 2025.
Entity Formation and Tax: Formed companies in GMC and advised on their tax treatment under the Income Tax Act 2025 and related GMC regulatory matters.
Crypto Exchange Redomiciliation: Advised one of the world’s largest cryptocurrency exchanges on redomiciling to Bhutan.
Corporate & Transactional
700 MW Hydropower Project: Legal due diligence for the purchase and sale of a 700 MW hydropower project for an Indian client.
ITES Company Sale: Legal due diligence for the sale of one of the largest ITES foreign direct investment companies in Bhutan for a US client, including advice on the share transfer and review of the share purchase agreement.
Horticulture Acquisition: Legal due diligence for the acquisition of a major horticulture business for US and Finnish clients.
Solar Company Entry: Advisory for a solar company setting up its entity in Bhutan.
Cross-Border Contract Termination: Counsel on a contract termination between India and Bhutan for a US-headquartered multinational.
FDI Establishment and Incorporations: Assisted in the establishment of multiple foreign direct investments in Bhutan and incorporated numerous private limited companies.
Regulatory & FDI Matters
FinTech Licensing: Advised a Singapore-headquartered multinational on the licensing requirements for introducing fintech solutions in Bhutan.
AI Chatbot Services: Advised on the licensing requirements for introducing AI chatbot services in Bhutan.
Bitcoin Payments: Advised on the use of Bitcoin as a payment method for the purchase and sale of Bitcoin mining machines in Bhutan.
Offshore Fund Solicitation: Advised a major offshore fund management company on the solicitation of investors’ funds in Bhutan.
Regulatory Compliance: Regulatory advice on Bhutanese labour, environment, employment and company law compliance.
Technology & Communications
Satellite Internet Contracts: Reviewed contracts for a global satellite internet service provider setting up operations in Bhutan.
Media and Entertainment Office: Advised an American multinational mass media and entertainment conglomerate on setting up its office in Bhutan.
Platform Data Requests: Advised on whether the Bhutanese police can demand user login information from an international social media platform.
Institutional Legal Advisory
International Financial Institution: More than ten regulatory analyses for an international financial institution on businesses, government agencies and procurement in Bhutan.
Foreign Missions and Development Entities: Ongoing advice to foreign missions and development entities on Bhutanese legal and administrative compliance.
FIRM OVERVIEW – Basnet Attorneys & Law
Basnet Attorneys & Law is a full-service law firm in Thimphu, Bhutan, advising on dispute resolution, corporate law, regulatory compliance, foreign direct investment and commercial matters for domestic and international clients. Its GMC work is carried out through Basnet Law Pte. Ltd. in Gelephu.
EDUCATION & PROFESSIONAL BACKGROUND
Bar Council of Bhutan Certified Attorney
Jigme Singye Wangchuck School of Law, Bhutan – LLB & PGDNL
White & Case LLP, Washington DC – Legal Intern (data privacy and cybersecurity laws, 2022)
Adjunct Faculty, Gedu College of Business Studies – Corporate Law (2023)
Legal Counsel to a special economic zone and FDI project in Bhutan (2021 to 2022)
Co-founder and former Partner, Nubyul Law – a law firm in Thimphu (2023 to 2024)
OTHER VENTURES & INITIATIVES
Founder, Global Law Lists.org – a global legal directory and network for law firms and lawyers.
Founder, LawAOS.com – a practice management platform for law firms.
Founder, Weblaya.com – a project, customer and learning management platform.
Social Enterprise Clinic, JSW Law – business plans, bylaws (English and Dzongkha) and incorporations for Bhutanese communities, farmers’ groups and civil society organisations.
RECOGNITION
Recognised by His Majesty the King of Bhutan, Her Highness Princess Sonam Dechan Wangchuck and the National Council of Bhutan for the post “His Majesty’s Vision for Bhutan”.
CONTACT DETAILS
Mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Phone: +975 77961648
Location: Thimphu, Bhutan
