Closing a business in Nepal involves a series of legal and administrative steps. Business owners must settle financial obligations, comply with government regulations, and complete official documentation to legally dissolve their company.
Businesses may close due to various Business Shutdown factors, including:
For registered companies, the board of directors or partners must approve the decision to close the business and document it through a formal resolution.
The business closure must be reported to:
Before shutting down, businesses must clear all outstanding taxes, including:
A tax clearance certificate from the IRD is required for official closure.
Employers must:
If the business has assets, they must be liquidated, and debts must be cleared before formal dissolution.
Businesses must close all official bank accounts and cancel:
A final closure application must be submitted to the Company Registrar’s Office with supporting documents, including:
Closing a business in Nepal requires careful planning and compliance with legal procedures. Consulting legal and financial experts can help streamline the process and avoid potential legal complications.