Thanks Ajit. Discussed with a couple people who were able to do video KYC at some nep banks. It looks like they may have just said ctzshp "nepali" on the kyc and no mention of us ctzshp and bypassed the facta stuff.
Same thing with khalti esewa etc.
I feel that it is no different than folks just doing what they have been doing for years b4 this NRN nagrikta - using their old Nep nagrikta to open acc and not mentioning their fatca info.
With the nen nagrikta, if one bypassed fatca on KYC and just put "nepali" citizen., Would that create issues if one wanted to make transfers to the nep account from the us account here?
Even with the nrn ctzhp, wouldn't one need to mention fatca info on kyc if they wanted to do it the correct way so as not to raise flags later?
Also, how about land and property in NEP purchased with the nrn ctzshp? Wouldn't one be legally required to mention that property on their US tax retns?
Also there is no info on how to obtain a PAN card with the nrn ctzshp. If you sold property and deposited in bank, NEP banks will require a PAN card on large transactions exceeding a certain amount.