Company Registrar Office has made the registration of new companies through online system mandatory from today.
Under the doing business environment reform programme of IFC, the the office will no longer entertain files under manual system for registration of the companies.
"However, some of the papers will still have to be submitted in hard copies due to absence of digital signature law," deputy registrar at the office Toyanath Adhikari said. "A company representative needs to make a one-time visit to the office to pay registration fees and register official signatures."
The office that had started online registration system in February took a step further by fully automating the registration system said that Nepal is most probably among the last countries in South Asia to make the online company registration mandatory.
The online registration will increase efficiency of the office as it would not have to depend on human to handle the paper works as the new system will eliminate hassles and curb corruption too.
"The old companies also need to follow the office online," he said, adding that the older companies have to open an account and obtain username and password to submit their annual reports and other documents to online.
The new system has comew into practice in the Kathmandu Valley for the time being and will be expanded soon to Rupandehi and Kavre to facilitate businessmen and entrepreneurs – old or new – in using internet-based registration service.The office has signed Memorandum of Understandings (MoU) with Federation of Nepalese Chambers of Commerce and Industries (FNCCI), Computer Association of Nepal (CAN) and Nepal Bar Association (NBA) to facilitate the online registration process.