CKYC (Central Know Your Customer) is a central repository for KYC (Know Your Customer) records of customers in the financial sector. It aims to provide uniform KYC norms and eliminate duplication of KYC efforts across financial institutions. While CKYC is primarily an initiative of the Indian government, similar concepts and frameworks can be found or implemented in other countries, including...
Investing in Nepal involves a structured process that aligns with the country’s legal and regulatory framework. Here’s a step-by-step guide to Foreign Direct Investment (FDI) in Nepal: Step 1: Understand Nepal’s Investment Environment Legal Framework: Familiarize yourself with the Foreign Investment and Technology Transfer Act (FITTA), 2019. Understand the regulations from the...
The Rastriya Parichaya Patra (National Identity Card) in Nepal is vital for citizens, providing a unique identification number and proof of identity. Here is a step-by-step guide to the registration process: Step 1: Preparation Eligibility: Ensure you are eligible to apply. Typically, this means being a Nepali citizen. Required Documents: Gather necessary documents such as: Citizenship...
Step-by-Step Guide to Setting Up a Partnership Firm in Nepal Table of Contents Introduction Understanding a Partnership Firm Benefits of Setting Up a Partnership Firm Pre-Registration Requirements4.1 Choose a Business Name4.2 Identify Partners4.3 Draft a Partnership Agreement Required Documents Registration Process6.1 Register with the Ward Office6.2 Register with the Inland Revenue Department...
Step-by-Step Guide to Setting Up a Sole Proprietorship Firm in Nepal Table of Contents Introduction Understanding a Sole Proprietorship Benefits of Setting Up a Sole Proprietorship Pre-Registration Requirements4.1 Choose a Business Name4.2 Identify Business Activity Required Documents Registration Process6.1 Register with the Ward Office6.2 Register with the Inland Revenue Department (IRD) Post...
How to Setup Import Export Business in Nepal Table of Contents Introduction Understanding Import Export Business Benefits of Setting up an Import Export Business in Nepal Researching and Identifying the Target Market Legal and Regulatory Requirements5.1 Business Licensing5.2 Trade License5.3 Customs Registration Setting up a Business Entity in Nepal6.1 Company Formation Options6.2 Choosing a...
Value Added Tax (VAT) in Nepal is a consumption tax levied on the value added to goods and services. Here’s a breakdown of the concept, rules, and filing returns related to VAT in Nepal: Concept: Consumption Tax: VAT is a type of consumption tax. It is borne by the final consumer but collected at each stage of the production and distribution chain. Value Addition: VAT is levied on the value...
Income tax rates in Nepal vary based on the type of taxpayer (individuals, couples, Companies) and the nature of income (business, salary, etc.). As of 2081, the income tax rates in Nepal have been structured to address both individuals and corporate entities. Below is a detailed overview of the tax rates applicable for the fiscal year 2080/81: Individual Income Tax Rates For Resident...
In Nepal, the registration processes for patents, designs, and trademarks are governed by the Department of Industry (DOI) under the Ministry of Industry, Commerce, and Supplies. Here’s an overview of the procedures for each: Patent Registration in Nepal Requirements: Application Form: A duly filled application form. Specifications: Detailed description of the invention, claims, and drawings...
In Nepal, obtaining and renewing an EXIM (Export-Import) Code is a crucial step for businesses involved in international trade. The process involves a series of steps that need to be followed carefully. Here’s a detailed guide on how to register and renew an EXIM Code in Nepal: EXIM Code Registration Process in Nepal Prepare Necessary Documents: Business Registration Certificate. PAN...