A company is an incorporated association which is an artificial person created by law, having a separate entity, with a perpetual succession and a common seal. Simply put, company is a legal entity enabling you to earn through business.
Nepalese citizens as well as foreign people can register any company in Nepal as per their necessity but that should bind by legal criteria of Nepal i.e. Company Act (an Act of Parliament which regulates the workings of companies, stating the legal limits within which companies may do their business).
Nepalese company act permits any people can register the following company in Nepal:
- Private company
- Public company
- Not Profit making company
No company can operate & perform its functions without the approval of the Company Registrar Office. Hence, to get legal authority, anyone must register the company in Company Registrar office of Nepal. Company Register is a way of legalizing company according to the law in Nepal.
Applicant –Side Tasks
The initial steps to register a company includes,
- Determining the type of company,
- Determining a unique & unambiguous name for the company,
- Filing an online form for the authenticity of the company name,
- Stating all the operations & functions of the company that fits & obeys the legal criteria,
- Preparing necessary documents and
- Finally, filing it to the OCR ( Office of the Company Registrar ) for registration.
A step-wise detailed guide on registering a company in Nepal is made available in the linked section, which also mentions all the necessary documents required & the cost involved during the process. www.ocr.gov.np
Inspection by Registrar
Upon the filing of the application fir the registration, the Registrar shall inspect the documents to satisfy himself that the requirements have been properly compiled with.
Issue of Certificate of Registration
In accordance with the amended company acts of 2075 B.S. / 2018 A.D. when an application is made for the incorporation of a company, the Office shall, after making necessary inquiries, register such company within 7 days on receipt of prescribed fees after the date of making of the application and grant the company registration certificate to the applicant.
Refusal for Registration
The CRO holds all the rights to refuse any or all company registration request application if the operational styles or functioning mechanisms or even the company name does not matches the legal criteria mentioned in the company acts.
Multiple circumstances in which the CRO can refuse to register a company is made .
Notice of Refusal
If the CRO refuses to register a company in any of the circumstances, it shall give a notice, accompanied by the reasons therefore, to the applicant no later than fifteen days after the date application made for the incorporation of company.
And if the person is not satisfied for the refusal, s/he may file a complaint in the court within fifteen days.