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A Brief Detail to Set Up a Company in Nepal

Why Should You Set Up a Company in Nepal?

Nepal is a different world with different language, a different business culture. The citizens of Nepal are educated, smart, dedicated and have good innovative ideas which are highly beneficial while you are setting up a company in Nepal as the workforce is quite inexpensive.

To set up a company in Nepal, you need to select the perfect sector which can give you billions of dollars and some of these sectors are tourism, agro-based, and electricity.

The tourism department of Nepal is continuously rising due to its rich heritage culture. Nepal faces a crisis for electricity, fuel, communication, and water and thus, it is an excellent opportunity for investors to set up a company in Nepal.

Business Entities in Nepal

There are different business entities in Nepal which you must choose carefully while setting up a company in Nepal:

1. Limited Liability Company (LLC): This type of business must have at least 1 director and one shareholder with a minimum investment of USD 1.
2. Public Limited Company (PLC): The minimum investment required to set up this business entity is USD 10,500. They must have minimum 7 shareholders and three directors along with a company secretary.
3. Branch Office: The business activities of the branch office are defined by a parent company, and it must have a registered office and a company representative.
4. Representative Office: This kind of business entity is involved in market research or to promote business but cannot conduct any activities which generate income for the business.

 

How to Set Up a Company in Nepal in 7 Steps

A company must be registered in Nepal to conduct business activities here.

1. Submission of a legal form which contains details such as:
   1. Company’s name which is unique
   2. Company’s registered address in Nepal
   3. Business objectives
   4. Complete details of the directors, shareholders and Company Secretary
   5. Liabilities of all the directors or partners in the company
   6. Submission of memorandum and Article of Association
2. Pay the business registration fee along with the form
3. Open a local bank account in Nepal
4. Apply for a tax identification number (TIN)
5. Registration of shareholders by filing the shareholders’ register with the office of companies
6. Maintaining accounts and auditing must be carried out every year
7. Annual reports and auditors report must be filed every six months.

Nepal is near to India and China and thus shares a strong relationship with both the countries which gives the products of Nepal a significant market. The foreigners are therefore investing in Nepal as there are many sectors which are unexplored in Nepal and thus the time is right to set up a company in Nepal.

Please contact us for more details.