TBCS Business Services is a team set up to address business and compliance problems. Specific examples of Business Services are as follows:

• Individual Corporate compliance fillings
• Provision of Registered office
• Provision of Nominee shareholders
• Assistance with missed compliance deadlines
• Assistance with securing Certificate of Compliance
• Assistance with securing “master list” updates

TBCS Business Services provides an à la carte menu of compliance services to clients. Where clients have missed a compliance filing or need assistance with a specific item of annual compliance, the TBCS business services team steps in to address this issue.

• Management consulting
• Performance efficiency
• Production & operations consulting
• Public sector consulting
• HR and organisational development
• Technology

TBCS has assisted clients in drafting, preparing and negotiating various types of commercial contracts, including but not necessarily limited to joint venture agreements, shareholders agreements, lease agreements, management services agreements, employment agreements, design and construction contracts, franchise agreements, distributor/agent agreements, licensing agreements, confidentiality/non-disclosure agreements and business/assets sale and purchase agreements.

You are a growing enterprise or a new enterprise to Nepal. You want to focus your energies on growing your business, and not attend to mundane accounting and compliance matters. You recognize the importance of proper accounting and compliance, yet do not want to compromise with part-time/freelance assistance and attention.

We offer professional one-stop assistance to help you comply with various statutory requirements. Depending on your needs, we can help take care of the foundational compliance requirements of your business, and you have the choice to add on advisory services as and when you need them.

TBCS basic company secretarial package includes:

• Reminders and notifications of Statutory compliance deadlines
• Preparation of compliance fillings
• Submission of compliance fillings

The TBCS company secretary is designed to provide a worry free, hassle free solution to meeting compliance deadlines and managing critical compliance in Nepal.

Nepal has a critical lack of senior finance expertise; this is driven by 2 key factors. The first factor being the emerging nature of the Nepalese business community and lack of experienced and qualified finance professionals with a history of operating as a CFO or at a board level.

The second factor is that most Nepalese business and organization’s is set firmly in the SME sector, meaning that the ability to finance a full time appropriately qualified and experienced CFO is limited, even if the demand is not.

Accordingly, TBCS have developed the consultant CFO product, which allows clients to access an appropriately qualified and experienced CFO with all of the benefits but without the cost associated with employing them full time.

TBCS has assisted a number of international investors in establishing new operations in Nepal through various entity forms including limited companies, joint ventures, representative offices, branch offices, regional offices, regional operating headquarters (ROH) and associations. TBCS has also advised and assisted clients applying for foreign business licenses, foreign business certificates under the Foreign Direct Investment (FDI), including applications for Investment Board. Business and corporate restructuring services is another main area of TBCS practice.

TBCS has been engaged by clients to represent them as their company secretary and to provide corporate secretarial services, comprising preparation of notices and minutes of meetings of board of directors and shareholders, retention of company registration documents, minutes books and share documentation, update share documentation upon the change of shareholders as well as the corporate amendments registrations, including amendments of directors, shareholders, registered capital, registered address/branch, memorandum and articles of association, seals, fiscal years and liquidations.

Given the lack of resource in the accounting sector emergency service accounting is a product of rapidly growing popularity.

Emergency services accounting covers to key service lines:

• Preparation for audit

  Given the ever increasing regulatory requirements placed on auditors the audit process is becoming more and more stringent companies need to commit increasing amount of effort into satisfying the demands of auditors.

  This factor combined with the shortage of skilled accounting resource in Nepal and the small business approach adopted by many companies in Nepal more and more companies are turning to TBCS in an effort to tidy up the accounting records and ensure that the accounting records are of a standard suitable for audit.

  The TBCS approach provides assistance in 3 phases

  • Organizing the accounting records of the company, cleaning up of the company management accounts and preparing the audit information requirements
  • Addressing auditor enquiries
  • Review and feedback on the audit report to management, what are the implications of the audit report provided and how will this be viewed by outside agencies.

• Clean up of financial information

  Businesses in Nepal are becoming increasingly sophisticated as business managers adopt international management styles and place ever increasing reliance on the company management accounts and financial information.

  TBCS works with clients to clean up financial data in a number of key ways:

  • To clean up management accounts and supporting information
  • To improve accounting process and company information flows
  • To implement enhanced management reporting linked to key business objectives and Key performance indicators

• Systems Implementation & Improvement

  The market for accounting software is awash with different systems all with differing competencies and capabilities. TBCS advises clients in the selection of the accounting software that best fits their business and then assists with the implementation process, including staff training.

  Where systems weaknesses have been identified, TBCS also works to review and improve existing systems and accounting process to ensure maximum value is obtained from legacy systems.

Legislative and compliance requirements such as processing of employee workbooks and visas are a distraction from business operations and can absorb significant management time particularly in Nepal.

TBCS's employee workbook solutions provides a one stop shop for employee compliance, allowing management to focus on their key objectives, successfully running their business knowing that employee compliance has been taken care of by professionals.

TBCS provides high level and quality legal advice and offers a wide range of legal services to a number of international clients who operate businesses in Nepal. Our specialized areas comprise the following:

TBCS offers registration services for various types of intellectual property, including trade marks, service marks, petty patents and patents as well as licensing agreements to clients who desire to protect their intellectual property in Nepal. TBCS also assists clients in intellectual property searches at the Department of Intellectual Property.

TBCS has assisted clients in labour matters prior to the commencement of the employment of their staff, during their employment in addition to in respect to the termination of their employment. TBCS advises clients on the labour law requirements of hiring and terminating staff. TBCS has experience in negotiations with labour unions on behalf of clients as well as redundancies and business/organization downsizing. TBCS also represents clients at the Labour Offices and the Labour Court to settle any labour disputes.

TBCS offers legal due diligence services to clients who wish to invest in existing companies or businesses (e.g. acquisition of shares, businesses or assets), properties as well as conducting a company search/company health check. In this regard, TBCS assigns its staff to conduct an onsite search in order to provide a formal written report to clients for their investment decision making.

TBCS Legal team has extensive experience in litigation, arbitration and other dispute resolution procedures. TBCS has assisted a number of clients in negotiating and settling disputes with their customers, creditors, debtors and contract parties throughout the pre-litigation, trial and enforcement stages. TBCS mainly focuses on civil, commercial and consumer cases.

Nepal provides a variety of investment vehicles for companies looking to establish operations in Nepal. Each of these entities have their own advantages, disadvantages and Compliance requirements. TBCS can assist with establishing which type of entity has the best strategic fit for investors.

Entities which TBCS can assist with registering:

• Qualified investment project
• Private Limited Company (single member)
• Private Limited Company
• Public Limited Company
• Land Holding Companies
• Sole Proprietor and partnership businesses
• Representative office
• Branch office
• Joint Ventures
• Local not for profit entity
• International not for profit entity

TBCS's incorporation process goes beyond the registration of an entity, we aim to ensure that clients not only have an entity which fits with their business or organization, but also understand the obligations and compliance requirements which come with that entity, and how best to address these requirements. As well as ensuring they have an overview of business practices in Nepal.

TBCS has advised clients and has been involved in a number of merger and acquisitions transactions since 2012 which includes business or asset acquisitions, and share acquisition by conducting legal due diligence, preparing and negotiating relevant contracts as well as the provision of advice on structuring of the transactions.

One of the key challenges for all business in Nepal is finding suitably qualified and capable staff, no sector is this more evident than in the accounting sector.

TBCS works with clients in a variety of industries, from manufacturing companies to airlines in order to ensure that high quality management information is available and local regulatory requirements have been adhered to. The majority of these services are bespoke and based upon client requirements however in general these fall into 2 categories:

• Outsourced Management Accounting

  TBCS provides a range of outsourcing solutions tailored to the needs of your business and its reporting and management information requirements. Based upon these needs and the financial information generated through business operations TBCS will provide timely and accurate management reporting in accordance with IFRS.

• Shared Service Center

  Generally focused towards larger business, TBCS shared Service centers allows businesses to access a “turnkey” finance function with full capability to manage all the tasks* undertaken by a traditional internal finance function, with the advantages of cost efficiency and skilled and experienced staff not easily found in emerging markets.
  
  *cash management, procurement, payment processing services excluded

Payroll is a skills or labor intensive businesses largest single monthly recurring transaction and successful payroll implementation is critical to the success of any organization, no payroll no staff.

Why deal with the risks of incorrect payroll calculations, lack of legal compliance, costly in-house payroll software systems and internal control issues, when you can simply outsource the entire process to a company that specializes in effective delivery of payroll solutions?

TBCS handles all aspects of payroll outsourcing and payroll processing, relieving HR professionals to do real HR work like staff development, training and education, or compensation planning. Some of the services provided by us are:

• Maintain payroll file for each employee
• Compute & disburse salary and reimbursements
• Provide printed or electronic pay advice (via internet)Process increments and bonuses
• Provide payroll reports for management's review monthly & annually

Given the extensive disclosure requirements of International Financial Reporting Standards, preparing annual financial statements for a company is no longer a simple matter. TBCS provides a problem free solution to ensure that your annual financial statements are properly produced and meet the disclosure requirements imposed by IFRS and local regulations.

TBCS has advised and assisted clients in the acquisition of property, including land, houses, condominium units and factories both for business and residence purpose in accordance with the applicable laws of Nepal.

TBCS Legal Advisory Consultant/Department has provided professional assistance to clients with respect to their application for a number of specific licenses/permits required for their business operations, including but not limited to factory licenses, construction permits, telecommunication licenses, import and export licenses, licenses to operate businesses in industrial estates, restaurant licenses, licenses to sell liquor and tobacco, entertainment licenses, ship inspection licenses, software house identification numbers, direct sale licenses, and Food and Drug Administration (FDA) licenses.

TBCS provides visas and work permit application services to expatriates who wish to work, stay with their families or retire in Nepal. TBCS has assisted clients in obtaining work permits, business visas, spouse visas, retirement visas, the transferring of visas as well as applying for residential permits.