Govt plans hassle-free company registration
KATHMANDU, JUL 20 -
In an effort to eliminate hassles in the company registration process, the government has planned to expand the infrastructural capacity of the Company Registrar Office (CRO) and allocated Rs 16 million for the purpose through the budget for 2011-12.
According to the CRO, it is planning to develop a Modern Business Registration Centre in the capital. The planned registration centre will be equipped with an advanced information system which will help simplify the registration process and management of documents related to companies seeking registration. “The fully computerised system will help maintain the documents allowing issuance of certificates in an easier way,” said registrar Lav Raj Shrestha.
Currently, the CRO has been seeing a rush of service seekers daily due to delays in the registration process. The office receives around 40 registration applications daily. Generally, registration takes three days. Service seekers have to travel to Kathmandu to register companies and renew their registration as the service is only provided here.
After expanding service from the Cottage and Small Industries (CSI) Office, Lalitpur two years ago, the CRO had planned to decentralise its work load through a similar mechanism in Biratnagar, Birgunj, Pokhara and Bhairahawa. However, due to lack of government initiation, the plan was not carried out in the specified time, said Shrestha. “We are likely to open our offices in these locations by the end of next year. For the purpose, the International Finance Corporation of the World Bank is providing technical support in the project.”
Meanwhile, the CRO is planning to obtain membership in the Corporate Registers Forum, an international alliance which assists operation of corporate business registration systems.
The CRO registered 10,464 companies in 2010-11, up from 10,216 in 2009-10. Of the registered companies, 10,323 were private companies, 57 were public limited and 84 were non-profit companies, according to the CRO. These companies have a combined proposed paid-up capital of Rs 47.9 billion. So far, the CRO has registered 88,735 companies.
Source: Kantipur
In an effort to eliminate hassles in the company registration process, the government has planned to expand the infrastructural capacity of the Company Registrar Office (CRO) and allocated Rs 16 million for the purpose through the budget for 2011-12.
According to the CRO, it is planning to develop a Modern Business Registration Centre in the capital. The planned registration centre will be equipped with an advanced information system which will help simplify the registration process and management of documents related to companies seeking registration. “The fully computerised system will help maintain the documents allowing issuance of certificates in an easier way,” said registrar Lav Raj Shrestha.
Currently, the CRO has been seeing a rush of service seekers daily due to delays in the registration process. The office receives around 40 registration applications daily. Generally, registration takes three days. Service seekers have to travel to Kathmandu to register companies and renew their registration as the service is only provided here.
After expanding service from the Cottage and Small Industries (CSI) Office, Lalitpur two years ago, the CRO had planned to decentralise its work load through a similar mechanism in Biratnagar, Birgunj, Pokhara and Bhairahawa. However, due to lack of government initiation, the plan was not carried out in the specified time, said Shrestha. “We are likely to open our offices in these locations by the end of next year. For the purpose, the International Finance Corporation of the World Bank is providing technical support in the project.”
Meanwhile, the CRO is planning to obtain membership in the Corporate Registers Forum, an international alliance which assists operation of corporate business registration systems.
The CRO registered 10,464 companies in 2010-11, up from 10,216 in 2009-10. Of the registered companies, 10,323 were private companies, 57 were public limited and 84 were non-profit companies, according to the CRO. These companies have a combined proposed paid-up capital of Rs 47.9 billion. So far, the CRO has registered 88,735 companies.
Source: Kantipur
