A private company can have one shareholder, and the Companies Act generally provides that the number of shareholders must not exceed 101 unless a statutory exception applies.
Single shareholder
Nepal expressly recognizes a private company with one shareholder.
Maximum number
The Companies Act provides a general maximum of 101 shareholders for a private company. There are limited statutory exceptions, so a particular company should be checked against the current law where an unusual ownership structure is proposed.
Why this matters
If a business expects a broad shareholder base or public fundraising, a private company structure may eventually become unsuitable and conversion to a public company may need to be considered.