How to open an Optical Shop in Nepal?

 

If you want to open an optical shop in Nepal but don’t know how, then you are at the right place. Opening an optical shop is starting a business that primarily deals in purchasing optical products like frames, lenses, contact lens and sunglasses and selling them with a monetary margin. We can start an optical shop in three ways:

    1)   Registering as a local business

You can just lodge an application requesting for the approval letter to open an optical business in relevant ward office. When they offer you the approval, you just have to go to the nearest internal revenue office for official PAN of your business. This is the small scale business and is easiest in terms of official procedures. You have to pay a yearly tax of minimum Rs. 1000/- to the ward office and RS 4000/- at the IRO.

     2)   Registering at Gharelu tatha Sana Udhyog (Cottage and Small business office) as a proprietorship

You can register your business firm as a proprietorship at Cottage and Small Business Office (CSO) with the following documents:

a)    A form filled with the relevant information (we can get it at CSO)

b)   Copy of citizenship of the applicant

c)    The rental agreement of house owner and the applicant where the business is going to be opened. If the house where you want to open the business belongs to a family member, you need to have an agreement between the family member and yourself about the opening of business. The format of this agreement can be found in Nepali Kagaj in any law firm or ward office. You also need to submit copies of citizenship certificates of two individuals who remain as the witnesses.

d)   The land ownership certificate (Laal Purja) of the house owner.

e)    Stamp ticket worth Rs 10.

f)     They will provide you a ‘bill’ which you have to take it to the designated bank to pay Rs 12000 as a registration charge. If the applicant is female, then there is a provision of 50% discount. You have to submit the bank voucher proof for the payment.

After submitting all the required documents, they will register your firm and the whole process just takes around 1-2 hours if there is not a crowd of the clients. With the certificate of registration, they also issue you a letter to be submitted at IRO for PAN registration. You have to go to IRO office for obtaining a business PAN. For less than Rs 1 crore of annual transaction, you don't have to register your firm under VAT.

    3)   Registering as a Company

You can register your business as a company in order to overcome the demerits of unlimited liability of sole proprietorship. The company registration also enables you to do a large scale business and take loan from the bank. If your annual transaction is above Rs 1 crore, then you also have to register your company under VAT after getting PAN from the Inland Revenue Office (IRO). You have to prepare Articles of Association (Niyamawali) and Memorandum of Association (prabandha patra) with the help of a lawyer or a legal firm to include the aims, objectives and area of scope of your company. On top of it,  you need all the above documents as in 2) for registering a company. 

 

You can do the business and buying and selling by opening and optical outlet by adopting any one of the above three registration process. If you want to open branches, then you have to go for method 2) Cottage and Small industries or 3) company. By this method, you can also have a copyright of the name of your business firm in the area of scope of your operation. For trademarks and franchises as well as international expansion and trade, you have to go for the company. If you want to operate an eye clinic as well in your optical business firm, then you should first get permission from the District Health Office (DHO) to be registered as an eye clinic for which there will be a separate more detailed firm but you need to have certificates, credentials and training details as well as council numbers of relevant professionals. For eye clinic registration, both option 2) and 3) are viable. Even after you register your business or clinic under 2) or 3), then you must notify the local ward office with a letter.

Post a Comment

0 Comments