Registering a company marks initial step towards realizing one’s aspirations of becoming a successful entrepreneur. In the budget speech for the fiscal year 2080/81, the government introduced a provision that allows for the registration of various types of companies (private, public, non-profit organizations, as well as branch and liaison offices of foreign companies) with free registration. In contrast to the prior procedure, which involved both a fee and a time-consuming process for company registration, the publication of a notice in the gazette on 2080/06/08 has now made it feasible to establish a company without incurring any fees.
What are the steps for initiating a company with no registration fee?
To begin the company registration process, begin by creating a user ID and password for the registration at the Online Company Registration’s site. Next, designate the desired company name and select its purpose. If the chosen company name is unique and not already in use by other businesses, the name is approved within 7 to 14 days. Following this, submit the necessary documents for the registration of the company.
What documents are necessary for company registration and what is the procedure involved?
To register a company, the Companies Act, 2063 mandate the submission of application for Company Registration, company’s Articles of Association, Memorandum of Association and Power of Attorney authorized to a person/director to be present in Office of Company Registar in OCR’s online registration portal. A company can be registered as either a private or a public entity. After all the documents are successfully submitted through the online portal, a submission number is generated. This submission number is then presented to the Office of Company Registrar to complete the company registration process.
In the past, there was a provision to pay the required fees as per the regulations after completing these procedures. However, the recent change allows for company registration without any fee immediately upon completing the aforementioned process.
In conclusion, the availability of free company registration means that no fees are now charged for this process which is expertly handled by our team. This adjustment appears to be aimed at encouraging entrepreneurship, particularly among young individuals.