Candidates should be above 17 years of age before CS Executive exam as per the eligibility criteria prescribed by ICSI. However, there is no maximum age limit to apply for CS programme. It must be noted that a person is eligible for the Associate Membership of the Institute only after attaining 21 years of age. In short, no one can attain the CS Degree before 21 years of age, though he/she can appear and pass the exams.
In Nepal, sole proprietorships are referred to as private firms.
The private firm is described in the Private Firm Registration Act 1958. Sole proprietorship firms do not have a separate legal and natural person, and the liability of the owner is not limited. These forms of business are mostly used by individuals undertaking trading activities: retailers, shops and importers of goods, and professional service providers like lawyers and accountants. Private firms are easy to establish and dissolve. They are also easy to control; decision making is prompt and flexible since there is only one person operating it.
The following provides the steps for registration of a company:
Reservation of company name at the OCR
Submission of physical copy of documents at OCR
Examination of submitted documents by OCR
Issuance of company registration certificate BY OCR
Tax Registration (VAT/PAN) at the Inland Revenue Office
Total time required for registration of a new company is 7 to 10 days.
Citizenship certificate in case of Nepalese promoter / passport in case of foreign promoter(1 copy)
Shareholder’s agreement ( if any)
Copy of certificate of registration and other registration documents (memorandum of association, articles of association) if the shareholder is company.( 1 copy)
Copy of prior approval of the DOI in case the shareholder is a foreign investor(1 copy)
The competent authority for the registration of company in Nepal is office of company registrar.
The law that addresses the registration of company is The Companies Act, 2063 (2006)
the procedure of registration of company are as follows;
Step 1: Reservation of company name at OCR
Step 2: After the name has been approved by the OCR, physical documents should be submitted to the at OCR
Step 3: Examination of the documents that has been submitted at documents. OCR has power to refuse to register by examining the documents.
Step 4: Granting of company certificate by OCR Step 5: Tax registration at Inland Revenue office.
The documents that are submitted at OCR are as follows;
Memorandum of Association of proposed company 1 set of original
Article of Association of proposed company 1 set of original
In case of public company, the copy of agreement entered between the promoters 1copy
In case of private company, the copy of consensus agreement 1copy
If the promoter is Nepalese citizen, certified copy of citizenship certificate 1 copy
If the promoter is foreign person, permission need to be obtained to carry business transaction in Nepal. 1 copy
If the promoter is foreign person, document proving the country of his citizenship. 1 copy
If the promoter is foreign company, a certified copy of such company and documents relating to incorporation. 1 copy
The grounds for the refusal to register a company are as follows;
If the name of the proposed company is identical with the name of the company that has been already registered.
If the name or the objective of the company is contrary to the prevailing law or it is undesirable in the view of public interest, morality, decency,, etiquette, or reflects the criminal motive.
If the name of the company is identical with the name of the company whose registration has been cancelled or the company is under insolvent under prevailing laws. 4) If the requirement is not fulfilled under The companies Act, 2063
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