September 26: The government has waived the fee for company registration and capital increment effective from Monday. This new provision has come into effect after the government published a notice in this regard in the Nepal Gazette.

The government made such arrangements in line with the announcement made in the budget for the current fiscal year to make company registration free of cost.

The notice published in the Nepal Gazette by the Ministry of Industry, Commerce and Supplies mentions that the fees that were previously charged during company registration and capital increment have been waived.

"No fee will be charged while registering a private limited company and a public limited company or for increasing the capital of a registered company according to section 5 of the Companies Act 2063," reads the notice.

Similarly, arrangements have been made to waive the fee for registration of foreign companies provided that they do not register branch offices and contact office and pledge not to distribute profits.