Introduction
With the initiation of any business, the main fundamental for running a legalized business is to get it registered. Since Nepal is becoming a growing hub for business opportunities, there has been a comparative increase in company registration, including local and foreign entrepreneurs. This blog has prepared to provide simple yet elaborative guidance regarding the process and aspects of company registration in Nepal. This will also include information about the companies registration office or Company Registrar Office, PAN, and VAT. Business registration includes online company registration Nepal. Kar Sansar is the leading company providing the best company registration services Nepal. This blog focuses on providing all the information that you need to know :
Reasons for Registering a company in Nepal
Company registration concerns more than being just a legal formality. It is a crucial step for creating a legitimate and credible business. The following are the main reasons for registering a company in Nepal :
- Legal Recognition
With a registered company, you create a separate legal entity, that can own a property, sign contracts and protect intellectual property.
- Limited Liability
It creates a safe side for the shareholders of private limited companies to be liable only up to the amount of the investment.
- Access to Finance
By getting a company registered, it has full access to Financing including obtaining loans, attracting investors, and also enjoying government grants.
- Tax Benefits
There are often government incentives and deductions available to registered businesses.
- Market Credibility
A registered company directly builds up trust among the customers, suppliers, and business partners, in simple words, maintaining market credibility.
Types of companies that can be registered in Nepal
- Sole Proprietorship
It is the type of business where there’s only one owner who is responsible for managing the business.
- Private Limited company ( Ltd)
It refers to enterprises that have one to fifty shareholders.
- Partnership Firm
It is such a business that has two or more individuals who share profits and liabilities.
- Branch or Liaison Office
It is chiefly related to establishing a presence in Nepal simply without forming a separate legal entity.
- Non-government Organizations (NGO)
An NGO is a non-profit entity working toward social, cultural, or charitable goals.
Step-by-Step Guide to Registering a Company in Nepal
1. Choosing and Reserving a Company Name
Make sure to comply with the guidelines for choosing and reserving the name of the company first. The availability of your choice of name can be checked at OCR, the Office of the Company Registrar.
2. Preparing Necessary Documents
The following are the mandatory documents that are commonly necessary for business registration :
- Memorandum of Association ( MOA)
- Articles of Association (AOA)
- Identification documents of shareholders and directors whenever applicable
- Proof of registered office address
- Taxpayer Identification Number (TIN) application form
3. Submitting an Application to the OCR
The submission of the application can be done online or in-person to the OCR. It is advised to double-check all the details to avoid errors and possible delays in the process.
4. Pay the Registration Fee
Although the registration fee varies depending on the company’s authorized capital, you can simply get the details for reference as per your capital.
5. Receive the Certificate of Incorporation
A certificate of Incorporation can be easily received once the application is processed at OCR.
6. Register for Taxation
Once the business is registered, the next step is to get a PAN ( Permanent Account Number from the Inland Revenue Department (IRD). It is notable that instead of PAN, VAT registration is required for businesses with an annual turnover exceeding NPr 5 million.
7. Comply with Additional Licensing Requirements
Some of the specific businesses like tourism or healthcare services require sector-specific licenses or permits.
How Kar Sansar Assists in Company Registration
Among the top service providers for company registrations, Kar Sansar stands out because of the quality of services and conveniences being provided to many businesses for many years, the following points stated below are the primary ways how Kar Sansar assists in the Company’s registration process.
- Expert Guidance
The reputable expert guidance of highly skilled and qualified team members contributes to the company’s compliance with up-to-date laws and regulations, being focused on accuracy and compliance.
- Time-Saving Solutions
They provide effective solutions for all of the requirements that effectively result in time-saving and efforts of the clients.
- Affordable Services
Kar Sansar has been popular for providing excellent quality services at a very competitive and affordable price range.
- Personalized Support
The expertise of Kar Sansar is fully tailored to the unique needs of their clients.
- Post-Registration Assistance
Being a fully professional service provider, Kar Sansar has been providing the best quality services beyond business registration and offering full support and assistance post registration like taxation, compliance, and other operational requirements.
Conclusion
It can be concluded that company registration is a critical step that plays a vital role in building a successful business in Nepal, full of untapped opportunities. Kar Sansar is considered one of the best professional consultants for quality services not just for registering a company but also for post-registration assisting you in being compliant helping you in understanding the legal framework, and preparing the necessary documents that are the foundation of building a successful business. Get in touch with the highly qualified team for consultations and answers to all of your queries.
