Bhutanese diaspora feel that it is timely since most were not able to invest

Thukten Zangpo

The Gelephu Mindfulness City (GMC) International Airport’s nation building fixed-term deposits (FTD) programme subscription deadline has been extended by an additional three months until March 31 of next year.

According to the ORO Bank, an official bank of GMC, the deadline was extended in response to significant interest from the Bhutanese diaspora community.

It added that the extension will allow more non-resident Bhutanese individuals an opportunity to participate in the secure and lucrative investment offering.

The fixed-term deposit programme remains a compelling option for those looking to invest in GMC, with a 10 year term, competitive annual interest rates, and the flexibility of early redemption after five years without penalty.

Hundreds of non-resident Bhutanese in Australia, the US, Canada, among others, are interested in investing in the FTD programme.

Managing Director of Kingston International College and Founder of EducationPro Group, Tandin Dorji, said that the GMC is a gift from His Majesty, and Bhutanese abroad can contribute by investing in the FTD without needing to visit the country. 

He has committed to invest AUD 1.5 million in this programme and has already started transfering funds to the ORO Bank account.

Tandin Dorji said that the extension for the subscription for the FTD was timely, as many Bhutanese, despite their commitments, encountered difficulties in creating accounts with the ORO Bank. Some faced challenges transferring funds due to technical glitches and security concerns.

Tandin Dorji said that the ORO Bank team in Australia is actively engaged in a robust promotion and community outreach programme. He committed to investing additional AUD 1 million annually in the GMC for the development of infrastructure projects such as railway and roads, provided his businesses continue to thrive.

One of the Bhutanese in Perth, Australia, who has invested more than USD 1,000 in a 10-year term FTD, said that he felt the need to invest as per His Majesty the King’s vision and hope from Bhutanese abroad. “It is an investment worth for the future of my country and my son. It gives me hope and realisation that I have contributed something for the betterment of the country.”

A Bhutanese in Perth, Kezang Dorji said, “I do not look at this as an investment but as a contribution in realising the hope for a better future for Bhutan. I am sure many others look at it in the same way. It is an opportunity to be part of history and a response to a call of duty.”

Kezang Dorji managed to create an ORO bank account and hopes to transfer money to the account in the coming days.

Gelephu Investment and Development Corporation, established by Royal Charter as Gelephu’s sovereign development body, has partnered with ORO Bank, Asia’s first full reserve digital bank, to introduce a nation-building campaign.

Non-resident Bhutanese can play a direct role in Bhutan’s nation-building through a new FTD initiative aimed at financing critical infrastructure, including the country’s first international airport at the visionary GMC.

The FTD programme is offered exclusively to Bhutanese residing overseas, giving them an opportunity to actively participate in and contribute to Bhutan’s future development.

The FTD programme offers four flexible fixed-term deposit options.

Bhutanese can make a one-time deposit of at least USD 1,000 with a 10-year term, which provides an annual interest rate of four percent in USD.

An additional option allows non-resident Bhutanese to make a one-time fixed-term deposit of at least USD 1,000 with a 10-year term, offering an annual interest rate of 10 percent in Bhutanese currency.

For both of these one-time deposit options, subscribers can invest higher amounts through fixed increment amounts.

For those interested in monthly contributions, the programme offers a monthly fixed-term subscription starting at a minimum of USD 250 per month for 24 months, with an annual interest rate of 3 percent in USD.

Also, non-resident Bhutanese can opt for a monthly fixed-term subscription with a minimum investment of USD 250 per month for 24 months, offering an annual interest rate of 8 percent in Bhutanese currency.

Subscribers will have the option of early redemption after five years without any penalty.

All participants will receive a certificate of appreciation and be recognised at the new Gelephu airport terminal.

Non-resident Bhutanese interested in the programme are required to open an ORO Bank account to complete the process.