KATHMANDU: The government has extended the deadline for companies to update their records and qualify for a waiver of fines until mid-January, giving businesses an additional two months to comply with regulatory requirements.
The previous deadline was set for mid-November. Under the extended provision, companies that have failed to submit their annual statements can avoid penalties by clearing their outstanding dues for the fiscal year 2025/26 within the revised deadline.
Registrar of Companies Krishna Kumari Shrestha has urged businesses to update their records and complete the required formalities on time to benefit from the exemption.
Meanwhile, the number of new company registrations in Nepal has continued to rise. A total of 20,736 companies were registered in fiscal year 2024/25, compared to 26,291 in the following fiscal year, representing an increase of 5,555 registrations.
During the first four months of the current fiscal year, up to October, 10,480 new companies had already been registered.
The increase has been attributed partly to the growing number of Nepalis returning from abroad and investing their skills, experience and financial resources in businesses at home.
The Office of the Company Registrar operates under the Companies Act, 2006, and is responsible for registering, regulating and overseeing different categories of companies.
Its responsibilities include managing company registration, names and organisational structures, as well as ensuring compliance with legal provisions, including the submission of required documents and annual financial statements.
According to the office, a total of 388,690 companies have been registered in Nepal to date, of which 14,970 registrations have been cancelled.
The office also monitors companies’ compliance with legal requirements and initiates liquidation procedures against those that fail to operate in accordance with prevailing laws.
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