Banking and Financials

The Government of Nepal has prescribed the following fees for the purpose of the following sections of the Companies Act, 2063: - For the purpose of company establishment: a) Private Limited Company B) Public Limited Company C) If the registered company increases its capital: Per the additional capital maintained by the previous capital, the previously paid fee will have to be deducted and the insufficient amount will have to be paid according to the new rate. D) Additional fees provided by the Companies Act, 2063: Ø   T o convert the company from Ltd. to Pvt. Ltd. and from Pvt. Ltd. to Ltd., 50 (%) percent of the fee will be levied for new registration. Ø   T he fee for changing the name of the company will be Rs. 25 percent or more of the existing fee for new registration Rs. 5,000. Ø   The copy fee per page is Rs. 10. Ø   In case of the capital increase, the remaining amount will be deducted from the existing authorized capital after deducting the registration fee.

Newly Registered Company Major activities to be done by the company and details to be submitted within 1 year after the registration of the company. Information of establishment of office as per Article 184 within 3 months after the establishment of the company The company was established in FY. After the amount of the shares agreed to be taken by the shareholders has been filed, the shares should be distributed and the share information should be prepared and submitted within one month and the board of directors should be formed. After the formation of the steering committee, the details of section 92 (3) of the Companies Act and the operator information should be submitted within 7 days of its preparation. For the first time since the establishment of the company, the annual general meeting must be held within a year. After that, FY. An annual general meeting must be held every year within six months of its completion. Thus, the det

  Step 1: Obtain Approvals Obtain necessary approvals from the relevant ministries/departments/bodies for permit/license to conduct business. Some of the relevant departments are: Department of Industry Department of Electricity Development Nepal Rastra Bank Department of Agriculture Department of Roads Step 2: Register a Company   Investors will need to register an appropriate form of company in the company registrar's office. Please refer to the following site for details on the registration process: http://www.cro.gov.np/ Step 3: Register with the Tax Office Following company registration, investors will need to obtain PAN and VAT, if applicable, registration numbers from the Inland Revenue department. Details for registration can be obtained from the following http://www.ird.gov.np Step 4: Open a Bank Account Local Investors can open a current account in any banks of Nepal. Whereas, foreign investors will need to open a foreign currency account