Registering your business in Nepal

Posted by: Sabin Nepal

Entrepreneurs visit SAFAL for all kinds of help. One help that they all need is this: how to start a company formally, with all the papers filed at the Office of the Company Registrar.

Since one of my tasks is to handle all company registration- and government-compliance work, and since I have been doing this for several years, I am happy to share what I know.
  

So here it goes, my cook-book-style version of how to formally start your company.

Assuming that you are starting a private limited company, hire a lawyer to prepare the following documents for you.

1.     Application Letter

2.   Article of Association-AoA (प्रवन्ध पत्र) –  2 copies

3.   Article of Memorandum-AoM (नियमावली) – 2 copies

4.   Board Minutes

5.    Nepali Citizenship copies of the founders/shareholders

6.   Government revenue as per the size of the capital structure of the company

The lawyer should be able to put together the above documents for a flat fee of about Rs. 15,000 (2019 rates).

After you do the above, you visit www.ocr.gov.np and create an account in your name. For this, go to “Start a Company” tab on the web site, and put in the proposed name of the company. The database checks your company’s proposed name against names that have already been registered.

The OCR then takes two to three days to approve or deny the proposed name. It informs you its decision via email. If you do not hear back from the OCR for more than three days, you will have to visit their office to inquire. 

Once they approve of the proposed company’s name, scan, upload and submit the above-mentioned documents: application letter, the AoA, the AoM, the Board Minutes, and so on. Applying online saves you time.

Allow two to three days to the OCR to review the submitted documents. You can check on the status of the application process by logging on to the OCR site.

If everything is in order, you will soon hear from OCR that your application has been approved. Once you get this notification, you visit the OCR with the original copies of the above documents.

The OCR may ask you to visit them in a few days to collect your registration certificate. With this in hand, you are formally registered as a company. Congratulations!

Please keep in mind that the whole process, from its start to finish, takes a minimum of seven days. Company founders usually hire lawyers to oversee and manage the process.

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