· If two or more person want to establish a firm to initiate business, partnership firm can be registered.
· A agreement among the Partners mentioning the each and every things (also called partnership deed) is required to registered the firm. The partnership deed has mentioned following things: Equity ratio, profit sharing ratio, entrants of new partner and exit of the existing partner, settlement the disputes, dissolution of firm, etc.
· Firm can be registered under Department of Commerce (in Kathmandu valley) and Office of the Cottage and Small Industries ( in outside the valley ) with the recommendation letter of Chambers of Commerce.
· Any time the firm can be dissolve as per the partners’ agreement.
· Tax law is applicable and the firm should be renewed each five years where the firm has been registered.
· It is easy to establish and dissolve comparing to the establishing of the company under company act.
can a foreigner open a trading partnership business in Nepal?? Pls advise in details.
ReplyDeleteThanks & regards
Mohammad Alim Uddin
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