Company Registration Process in Nepal (2082 CAMIS Update)

Further Registrations and Compliance After OCR Registration

Once your company is successfully registered with the Office of the Company Registrar (OCR) in Nepal, there are additional registrations and compliance procedures that must be completed to ensure your business is fully operational and legally compliant. These steps are essential for smooth operations and adherence to regulatory requirements. Below is a detailed overview of the post-OCR registration process:

1. Registration at the Local Level (Ward Office)

After obtaining your company incorporation certificate from the OCR, the next step is to register your business at the local ward office where your company’s registered office is located.

• Purpose:
  • To formalize your business presence at the local government level.
  • To comply with municipal regulations and obtain necessary permits.
• Process:
  • Visit the respective ward office with your company incorporation certificate and other required documents.
  • Submit an application for local business registration.
  • Pay the applicable fees as per the ward office’s guidelines.
• Outcome:
  • Upon approval, you will receive a local business registration certificate, which is mandatory for operating legally within the municipality.

2. Obtain a Permanent Account Number (PAN)

A Permanent Account Number (PAN) is a unique tax identification number issued by the Inland Revenue Department (IRD). It is mandatory for all businesses in Nepal to facilitate tax compliance and financial transactions.

• Purpose:
  • To enable your company to file taxes, open bank accounts, and conduct financial transactions.
• Process:
  • Visit the nearest IRD office or apply online through the IRD portal.
  • Submit the required documents, including the company incorporation certificate, MOA, AOA, and proof of registered office address.
  • Pay the applicable fees.
• Outcome:
  • Once approved, your company will be issued a PAN card, which is essential for all financial and tax-related activities.

3. Register with Relevant Departments (If Applicable)

Depending on the nature of your business, you may need to register with specialized government departments to ensure compliance with industry-specific regulations.

a. Department of Small and Cottage Industries (DoSCI)

If your business falls under the category of small or cottage industries, registration with the Department of Small and Cottage Industries (DoSCI) is required.

• Purpose:
  • To avail of government incentives, subsidies, or support programs for small and cottage industries.
• Process:
  • Submit an application along with the necessary documents, such as the company incorporation certificate and details of the business activities.
  • Pay the applicable fees.
• Outcome:
  • Upon approval, your business will be officially recognized as a small or cottage industry, making it eligible for relevant benefits.

b. Department of Commerce (DoC)

For businesses involved in trading, import/export, or commercial activities, registration with the Department of Commerce (DoC) may be required.

• Purpose:
  • To comply with trade regulations and obtain necessary licenses for commercial operations.
• Process:
  • Submit an application along with the required documents, such as the company incorporation certificate, PAN, and details of business activities.
  • Pay the applicable fees.
• Outcome:
  • Upon approval, your business will receive the necessary licenses or permits to operate in the commerce sector.

4. Additional Compliance Requirements

In addition to the above registrations, businesses may need to fulfill other compliance requirements, such as:

• Tax Registration: Register for Value Added Tax (VAT) if your annual turnover exceeds the threshold set by the IRD.
• Social Security Fund (SSF) Registration: Enroll your employees in the Social Security Fund, as mandated by law.
• Industry-Specific Licenses: Obtain additional licenses or permits depending on your business sector (e.g., tourism, healthcare, education).

Why These Registrations Are Important

1. Legal Compliance: Ensures your business operates within the framework of Nepalese laws and regulations.
2. Operational Readiness: Facilitates smooth business operations by obtaining necessary permits and licenses.
3. Access to Benefits: Makes your business eligible for government incentives, subsidies, and support programs.
4. Credibility: Enhances your company’s reputation and trustworthiness among clients, partners, and financial institutions.

Tips for a Hassle-Free Post-Registration Process

• Plan Ahead: Research the specific requirements for your industry and location to avoid delays.
• Maintain Organized Records: Keep all documents, certificates, and receipts in a secure and easily accessible manner.
• Seek Professional Assistance: Consider consulting legal or financial experts to ensure all registrations and compliance procedures are completed accurately.

By completing these additional registrations and compliance steps, your company will be fully equipped to operate legally and efficiently in Nepal, paving the way for long-term success and growth.