Hi fellow Sajhaites,
I am on the verge of applying for US citizenship, just wanted to ask about owing property back in Nepal.
Can we legally own property back in Nepal after becoming the naturalized US citizen?
How do NRN own/invest in Nepal? Do i need to formally apply for its membership?
I have some land in my name, so should I be preparing to transfer it to my parents/sibling name?
Does US exchange information about the newly naturalized citizen's with his/her former home country?

Legally NO

newbie: हालको संबिधान मा बिसेस रास्त्र को द्वैध नागरिक हुन् पाउने प्राबधान भएको कुरा बुझ्नु भएको छैन जस्तो छ र यस अनुसार तपाइको पैत्रिक सम्पति र सम्पत्ति किन बेच गर्न पाउनु हुनेछ |

But there are no laws yet under the new constitution for nrns,lol
...

magorkhe1, sidaNepali is right. Just because you have it in constitution doesn't mean anything until a law gets passed. Only a law will define how much property you can own, how, where etc etc and all the details.

Well technically constitution is the highest law of land. So any law that doesn't alain with current constitution is invalid . If it comes to point, you can fight for it and what ever is in constitution will win. Meaning your constuational right are there and no one can take it off unless they change constitution.

But practically it's pain in as* to deal with neplease legal and governmental systems. And long manures in Supreme Court gonna take and how they going to define constitution is other story.

जनाबर संग मान्छेको फोटो टासी फेसबुक मा राखे २ बर्स जेल सजाय हुने कानुन बनाउन भ्याउनेले संबिधान मा राखेको कुरालाइ सम्मत गर्ने अर्को कानुनको ब्यबस्था गर्न लाइ कुनै प्रयास्नै भएका छैनन् | अर्को ब्यबस्था र कानुन बबनुन्जेल सम्म यो लगौटीभित्र गुम्सिएर बसेको लण्ड झैँ हो नत् कसैले चिहाउञ्छ न त तेस्को कुनै मान्यता नै दिन्छन र पाउने छ |
Thank you Miraj

Meeraj , i hope that was the case but unfortunately it's not. Even the new constitution of Nepal says , it " may " give citizenship, not it will. It may , or it may not. The crook lawyers and even judges now a days will rob you dry and who's going to travel back and forth for the dates ( peshi) they give from the court.

Thats the problem with us. Why are we settling for NRN card when the new constitution of Nepal clearly states we may be given continuation of Nepali citizenship. We should demand for dual citizenship. If it was Nrn card , then why did our nrn leaders fought and lobbied for years, it was already granted years ago. Now the new constitution mentions nrn citizenship , no one is speaking up and our nrn leaders are still celebrating since the constitution in inaugurated.
here are the problems with nrn card:
1) you get blue card, not red (lal purja) for your land and every purchase and sell of the land has to be approved by the secretary of home ministry . Imagine how much hassle yo uwill get wiht that. how much bribes you will have to pay and how much the screwed buyers and dalals will try to rob you because of your special situation.
2) It's 10 years for more than 500 ( do your own research for exact amount)
3) what about your children. NRN card can not be passed on to your kids.

why settle for less, when the constitution grants citizenship?

I want add one question on this thread.
A US citizen has to pay tax to US government if he/she has property back in Nepal.?

@Hereiam - Yes. I think but only if your property has earned you income in that fiscal year, right? Just having an illiquid property should only mean property tax, which the jurisdiction would have already charged you. An Accountant can chime in.

This is a good thread. Although I support full rights to dual citizenship because many of us want to retire back in Nepal (probably) but socially and culturally many new legislators may lean towards the right wing idea of why we, NRN, should reap any benefits. I don't know, I am just saying, that might be one school of thought, ten years from now.

To the OP and others, how about this, would this work? You apply and obtain the US Passport but you do have an old Nepali Citizenship Certificate with you. Ten years from now when you want to sell your my Land and House, you use the Nepali Citizenship. Although, you flew to Nepal with a US Passport but when dealing with Malpot Office while selling the land, you use Nepali Citizenship certificate.

Probably it's a bad idea, right? Because if somebody knows and sues, then you are in a mess, right? Just asking what others says about that.

IRS/FATCA/FINCEN Requirements: The IRS and the FATCA regulations have added a number of reporting requirements and tax forms since 2011. Check those rules and laws and see if they are applicable to you. These are some of the rules regarding having Bank accounts and properties outside US. Most of the people don’t follow it. But the penalty and criminal indictment are huge in these cases.

Having a bank account outside US: If you have one or more bank accounts in foreign country, it creates disclosure requirement on your Form 1040, Schedule B that asks if you have any foreign bank or securities accounts. Now you have to answer, yes. If the highest balance in that account(s) was $10,000 or more at ANY TIME during the calendar year, you must file the Form 114 Report of Foreign Bank Accounts. This form must be filed electronically with the Financial Crimes Enforcement Network [FINCEN] annually before July 1. Failure to do so risks penalties beginning at $10,000 and potential criminal indictment.

Owning a rental property outside US: If you own your foreign real estate directly as an individual, you do not have to report that property on Form 8938 or other FATCA forms even if it is a rental property. However, if you own the property directly AND you are renting it out, we are supposed to report the rental property on our personal US income tax return. Any real estate taxes and other related expenses, you pay on that property may be deducted on your itemized deduction schedule on your Form 1040.
Inheriting a family house: If you inherited the property, determining the fair market value on the decedent’s date of death provides your adjusted tax basis in the property. Under certain circumstances, you may be required to file a Form 3520 to report a distribution from a foreign trust, foreign estate or gift from a foreign person in excess of $100,000 during the year. Penalties for failure to file this form begin at the greater of $10,000 or 35% of the distributions received.

Selling foreign properties at a gain: Selling the property for a gain may create a taxable event in your US return with a possible foreign tax credit offsetting some or all of the US tax on the gain.
Exception: If the foreign property was your personal residence, you may be eligible for exclusion of your gain on your US tax return if you meet the 2 years out of 5 test for residing in the home. This applies even for a foreign home.

Disclaimer: These are based on my research on the topic and please do your own research and/or talk to your tax professionals if you are in doubt.