Many founders think the work ends when OCR issues the registration certificate. In reality, registration starts a new compliance calendar. The first month is the best time to build systems that prevent expensive cleanup later.
1. Confirm licences and approvals
If the company’s activity is regulated, obtain the necessary licence or approval before carrying on that activity. OCR’s own post-incorporation guidance emphasizes this point.
2. Complete tax registration
Set up the company’s tax identity with the relevant Inland Revenue Office and separately assess VAT or other registrations where applicable. Do not wait until the first annual tax return to ask what registrations were required.
3. Open and actually use a company bank account
Route business receipts and payments through the company where practicable. This helps establish an audit trail and reduces confusion between shareholder money and company money.
4. Start bookkeeping from the first transaction
Maintain sales, purchases, expenses, payroll, taxes, fixed assets, receivables, payables and shareholder transactions. “We will reconstruct it at year-end” is one of the most expensive accounting habits a small company can develop.
5. Record shareholder and director decisions
Keep the share register and important resolutions aligned with what actually happened. Material decisions such as ownership changes, major borrowing and appointments should not exist only in messages between founders.
6. Plan annual financial statements and audit
OCR’s guidance requires companies to arrange annual audit and refers to filing company-law information within statutory timelines. Build the audit file monthly by reconciling bank accounts and retaining supporting documents.
7. Create one compliance calendar
Your calendar should combine tax filings, VAT/TDS obligations where relevant, payroll, licence renewals, financial statements, audit, AGM and OCR submissions. Assign a responsible person to each deadline.
Frequently asked questions
Can a private company start business immediately after incorporation?
OCR states that a private company does not require the separate commencement approval applicable to a public company, but any sector-specific approval required by law must still be obtained before the regulated activity begins.
Does a company need an auditor?
OCR’s post-incorporation guidance states that a company must appoint an auditor for the audit of its annual transactions, subject to the Companies Act and applicable professional requirements.
Official sources & further reading
- Office of Company Registrar — Activities Required After Incorporation
- Nepal Law Commission — Companies Act, 2063
Rules, thresholds, rates and filing processes can change. Check the current law and official portal before relying on an older guide.
Need help applying this to your business?
General guidance is useful for understanding the issue. Your actual records, registrations and circumstances may require a different treatment.