GMC Legal Opinions for Lenders, Exchanges and Counterparties: Legal Advisory

When a bank, exchange, clearing house or trading counterparty deals with a GMC company, it will usually ask for a local counsel opinion before it lends, onboards or signs. GMC is a new jurisdiction with no body of decided cases yet, so the opinion has to be reasoned from the statutes and the received common law, and it has to be given by a firm that is actually in GMC. Basnet Law Pte. Ltd. is the first incorporated law firm in GMC.

Confirm due incorporation and good standing from the Gelephu Corporate Registration Office (GCRO) records.

Opine on corporate capacity under the Companies Act 2025 and on any restriction of capacity in the constitution.

Opine on the authority of directors to bind the company and on the absence of constructive notice of the constitution.

Confirm due execution, including deeds signed without a seal.

Opine on the validity of a GMC governing-law clause and the content of GMC law, including the common law received under the Application of Laws Act 2024, and address the Unfair Contract Terms Act 2026.

Provide regulatory status confirmations for Licensed Firms and issue reliance letters to exchanges, custodians and lenders on agreed terms.

Lenders taking security from, or lending to, a GMC borrower or guarantor. Exchanges, clearing members, prime brokers and digital asset platforms onboarding a GMC entity. Counterparties to master, supply or licensing agreements with a GMC party. International law firms needing a local-law input to a multi-jurisdictional opinion.