diff --git a/erpnext/patches.txt b/erpnext/patches.txt
index 7bdff4d9ea8..f651ea49525 100644
--- a/erpnext/patches.txt
+++ b/erpnext/patches.txt
@@ -29,3 +29,4 @@ erpnext.patches.4_0.remove_module_home_pages
 erpnext.patches.4_0.split_email_settings
 erpnext.patches.4_0.fix_employee_user_id
 erpnext.patches.4_0.set_account_details
+erpnext.patches.4_0.import_country_codes
diff --git a/erpnext/patches/4_0/import_country_codes.py b/erpnext/patches/4_0/import_country_codes.py
new file mode 100644
index 00000000000..9a4ddcb28ad
--- /dev/null
+++ b/erpnext/patches/4_0/import_country_codes.py
@@ -0,0 +1,13 @@
+# Copyright (c) 2013, Web Notes Technologies Pvt. Ltd. and Contributors
+# MIT License. See license.txt
+
+from __future__ import unicode_literals
+import frappe
+
+def execute():
+	frappe.reload_doc("setup", "doctype", "country")
+
+	from frappe.country_info import get_all
+	
+	for name, country in get_all().iteritems():
+		frappe.set_value("Country", name, "code", country.get("code"))
\ No newline at end of file
diff --git a/erpnext/setup/page/setup_wizard/setup_wizard.py b/erpnext/setup/page/setup_wizard/setup_wizard.py
index b79e5ca0934..612adf84ecc 100644
--- a/erpnext/setup/page/setup_wizard/setup_wizard.py
+++ b/erpnext/setup/page/setup_wizard/setup_wizard.py
@@ -88,6 +88,7 @@ def create_fiscal_year_and_company(args):
 		'company_name':args.get('company_name'),
 		'abbr':args.get('company_abbr'),
 		'default_currency':args.get('currency'),
+		'country': args.get('country')
 	}]).insert()
 	
 	args["curr_fiscal_year"] = curr_fiscal_year