How to Register a Remittance Company in Nepal

Are you planning to start a remittance company in Nepal? With the growing number of Nepali workers abroad, the demand for legal and efficient money transfer services is rising. Starting a remittance business can be a profitable venture — but it’s important to follow the right process and legal requirements.

In this blog post, we’ll guide you step-by-step on how to register a remittance company in Nepal, including government regulations, required documents, and licensing procedures.

What is a Remittance Company?

A remittance company is a licensed business that helps individuals send and receive money across borders, especially from Nepali workers abroad to their families in Nepal. These companies work with international partners to ensure secure and fast money transfers.

In Nepal, remittance companies must be registered as a legal entity and obtain a license from Nepal Rastra Bank (NRB).

5 Steps to Register a Remittance Company in Nepal

Step 1: Register a Company at OCR Nepal

The first step is to register your business with the Office of the Company Registrar (OCR).

Documents Required:

• Proposed company name (Check availability on OCR website)
• Memorandum of Association (MOA)
• Articles of Association (AOA)
• Application form (as prescribed by OCR)
• Copy of citizenship certificates of shareholders
• Passport-sized photos of shareholders
• Rent agreement or proof of office address

Read the Full Guide: How to Register a Company in Nepal

We’ve covered the complete step-by-step process, required documents, registration fees, timelines, and tips in our detailed guide. Make sure to check it out to avoid common mistakes and streamline your registration process.

Step 2: Obtain a PAN/VAT Certificate

After company registration, you must apply for a Permanent Account Number (PAN) from the Inland Revenue Office. This is required for all businesses operating in Nepal.

Step 3: Open a Company Bank Account

You will need a business bank account in the name of your company. This is necessary for financial transactions and to meet the capital requirements for NRB licensing.

Step 4: Apply for a Remittance License from Nepal Rastra Bank (NRB)

To legally operate a remittance business, you must obtain a license from Nepal Rastra Bank under the Foreign Exchange Regulation Act.

Eligibility Criteria:

• Company must be registered in Nepal
• Minimum paid-up capital: Usually NPR 20 million (may vary – verify with NRB)
• Physical office space
• Fit and proper shareholders/directors

Documents Required:

• Application to NRB
• Copy of company registration certificate
• MOA and AOA
• PAN/VAT certificate
• Details of directors and shareholders
• Office address and proof of infrastructure
• Business plan and operational model
• Agreement with foreign remittance partners (if any)
• Bank guarantee or deposit (as required by NRB)

NRB will review your application, inspect your office, and assess your company’s ability to comply with compliance and AML/CFT (Anti-Money Laundering / Combating Financing of Terrorism) regulations.

Step 5: Start Operations After Approval

Once your application is approved and license is issued, you can legally start your remittance business in Nepal. You will also be required to submit periodic reports to NRB and comply with financial monitoring laws.