Have you ever needed to understand the procedure for company registration cancellation – if you did register the company but could not or did not commence business?
Samriddhi has been steadily working on examining prevailing exit strategies for companies and businesses in Nepal in the past few months and will soon be releasing a paper on the same. There are mainly three exit options available for entrepreneurs wishing to close their business – the cancellation of registration (for businesses that did not commence business once registered, – voluntary liquidation (for closing ‘active’ businesses) and – forced liquidation (where regulatory bodies file for closing of a certain company because of unassailable losses).
You can find the process flowchart for company registration cancellation below!
Detailed descriptions of time and cost taken to administer the shown process can be found in our upcoming company exit paper.
The next in line for the exit strategy blog-post series will be on the process of voluntary liquidation (i.e. how to close a business in Nepal once you have engaged in some form of business commencement?)