Trade and Industry Rules, 2023.

The Trade and Industry Rules, 2023 (Rules) were adopted by the Royal Government of Bhutan to modernize and consolidate the country's business regulations, replacing several older rules governing trade, industry, imports, e-commerce, and licensing. The Rules aim to simplify business licensing, improve transparency, strengthen regulation, promote entrepreneurship, and create a more business-friendly environment while clearly defining the rights and responsibilities of businesses. They apply to the registration, licensing, and operation of trade and industrial activities throughout Bhutan. The Rules prescribe procedures and eligibility criteria for obtaining licenses for micro traders, retailers, wholesalers, dealers, industries, cottage industries, companies, and temporary businesses. The Ministry of Industry, Commerce and Employment is responsible for issuing, renewing, suspending, or cancelling licenses, facilitating sectoral clearances, maintaining business records, regulating imports and exports, and monitoring compliance. The Rules also govern changes in ownership, location, business activities, and business names, ensuring that businesses operate only after obtaining the necessary approvals. Special provisions regulate alcohol sales, petroleum dealerships, imports, exports, foreign collaborations, and e-commerce. The e-commerce chapter is particularly significant, requiring online businesses to provide transparent information, protect consumer data, ensure secure payment systems, offer fair return and refund policies, and establish effective mechanisms for consumer grievance redressal.