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Nepal Company Incorporation Services
Nepal lies in close proximity to China and India, the two biggest economic power players in Asia and it is because of its location that makes it an excellent platform for engaging in business between these two countries.
Nepal is a point of interest for investors who are looking to expand their business empire into other parts of Asia. English is widely spoken in Nepal, making it easy for business transactions to be conducted and the costs of operating a business in Nepal is significantly lower than what it would cost to run the same type of business in a Western or European country.
The Advantages of Having a Company Registered in Nepal
Establishing a registered company in Nepal is as easy as appointing a minimum of one shareholder and one director of any nationality. The minimum paid-up capital that is needed to found this company is approximately US$1 and the incorporation process takes about a month to complete if all the documentation is in order.
Tourism accounts for approximately 4% of the gross national product and that percentage is on the rise annually, opening doors and potential for investors to tap into. The government of Nepal is welcoming towards foreign investments and is working to establish Special Economic Zones that will offer several investment incentives which include exemption from corporate tax, exemption from VAT, no duties on imports, no capital controls and much easier visa work visa requirements.
Nepal Company Incorporation Procedure
To register a company in Nepal, an investor would have to complete the following steps in the incorporation process as required by Nepal law:
- Confirm the uniqueness of the proposed company name with the Office of the Company Registrar. Verification of the company name can also be completed online for convenience.
- A professional would verify and certify the memorandum and articles of association, which can be done at the Professional Agency. Enlisting the help of a professional services agency can help to minimise mistakes.
- A stamp needs to be purchased at the post office to be attached to the NPR5 registration form.
- The business would need to be registered at the Office of the Company Registrar’s Department of Industry. To complete the registration, a promoter must submit an application as prescribed by the Ministry of Industry, Commerce and Supplies.
- A company seal needs to be made at the office of office of the seal maker.
- All companies must be registered for VAT and Income Tax at the Inland Revenue Office of the Ministry of Finance.
- All company employees are requested to be enrolled in the employees provident fund. Every month, 10% of the employee’s salary will be deducted to match the contribution by the employer.
Are you keen on incorporating a company in Nepal? 3E Accounting is experienced in incorporating companies across the Asian region and our panel of experts are well versed in what it takes to establish a company quickly and efficiently. Contact us today for more information on how we can be of assistance