Incorporation of company +It is formation of company by law. + An act of incorporating a company is performed by the process of registration of company by the office of the registar under ministry of industry and commerce. +,The combination of promoters decisions to establish and make registration of the company and convert into legal organization. +when it is registration in company registration office it has legal status. + it may either private or public or profit making or not distrubuting profit. Procedure for Incorporation : According Company Act 2063 sec3(3) mentioned that no one can undertake any transit action through any firm or institutions using word Company.Incorporation of company is compulsory in nepal. The procedure for incorporation of company are as follows : 1.Application :(Company Act 2063 sec4 ): The person intrested to incorporate a company are firstly required to apply and submit an application for the approval of the name of a proposed company through electronic means. an application along with the required documents must be submitted to the office in the precribed format.the followinkg documents must be presented along with the application. a) The Memorandum and Articles of associationn of the proposed company. b) in case of a public company, a copy of the agreement made between the promoters prior to incorporation of the company, if any c) In case of a private company, a copy of the unanimous agreement, if any d) A permission or a a license required prior approval or permission as per law from any authority. e) A certified citizenship certificate if the promoters is Nepalese citizen or certificate of incorporation and decision od BOD ,if the promoter is a corporate body. f) A permission of concerned authority to conduct business in nepal, if the promoters is a foreign individual or a company or an agency. g) In case of foreigner the document evidential to prove the citizen of the country . h) in case of body incorporated in other countries, the certificate of incorporation and other document of incorporation. But single shareholder need not require to submit articles of the proposed company.
Incorporation of company
+It is formation of company by law.
+ An act of incorporating a company is performed by the process of registration of company by the office of the registar under ministry of industry and commerce.
+,The combination of promoters decisions to establish and make registration of the company and convert into legal organization.
+when it is registration in company registration office it has legal status.
+ it may either private or public or profit making or not distrubuting profit.
Procedure for Incorporation :
According Company Act 2063 sec3(3) mentioned that no one can undertake any transit action through any firm or institutions using word Company.Incorporation of company is compulsory in nepal.
The procedure for incorporation of company are as follows :
1.Application :(Company Act 2063 sec4 ):
The person intrested to incorporate a company are firstly required to apply and submit an application for the approval of the name of a proposed company through electronic means.
an application along with the required documents must be submitted to the office in the precribed format.the followinkg documents must be presented along with the application.
a) The Memorandum and Articles of associationn of the proposed company.
b) in case of a public company, a copy of the agreement made between the promoters prior to incorporation of the company, if any
c) In case of a private company, a copy of the unanimous agreement, if any
d) A permission or a a license required prior approval or permission as per law from any authority.
e) A certified citizenship certificate if the promoters is Nepalese citizen or certificate of incorporation and decision od BOD ,if the promoter is a corporate body.
f) A permission of concerned authority to conduct business in nepal, if the promoters is a foreign individual or a company or an agency.
g) In case of foreigner the document evidential to prove the citizen of the country .
h) in case of body incorporated in other countries, the certificate of incorporation and other document of incorporation.
But single shareholder need not require to submit articles of the proposed company.