As of October 2nd 2020, more than 1,360 applications have been approved via the Cambodian online business registration. The Cambodian government launched the online platform on June 15, 2020.
The online portal and digital service is available atregistrationservices.gov.kh, we initially reportedon the pending portal in early June 2020 before the launch, and the web portal was called theCambodian National Information Technology Business Registration Platform and since has been called the Cambodia Online Business Registration System, and the Single Portal Online Business Registration System.
The Undersecretary of State of the Ministry of Economy and Finance and Chairman of Techo Startup Centre (TSC) Kong Marry said, “Within almost a four-month period as of October 2, 2020, we received a total of 1,793 applications, 1,367 of which have been approved and 426 of which are under review. The average number of days it takes to register a company is eight.”
Marry added that most businesses applying operate in the wholesale of household goods, wholesale of specialised goods and in real estate.
- 71 per cent (1,277) of the approved companies are Cambodian (51% or higher of the total share owned by Cambodian(s).
- China (33.5 per cent), Singapore (25.6 per cent) and the United Kingdom (25.3 per cent) had the biggest portion of foreign investments.
In August, the government had reported that the number of Cambodian companies which registered on the government’s new Single Portal online business registration system was 287 by the end of July 2020.
Anthony Galliano, group chief executive officer of Cambodian Investment Management Group told the Khmer Times that some areas for improvement remain:
- The company name-check still takes up to three business days and each shareholder and director must sign the draft articles of association, which can significantly delay the processing if they are located outside the country and in different countries from each other.
- Business Licensing and QIP (qualified investment project) approvals still not available on the system.
At the launch, six Cambodian ministries were said to be linked with the Online Business Registration System:
- Ministry of Commerce
- General Department of Taxation
- Ministry of Labour and Vocational Training
- Ministry of Interior
- Council of Development of Cambodia
- Ministry of Economy and Finance
However, Marry said that to date, only the synchronisation of three ministries, Commerce, Tax, and Labour had been implemented.
Digitalisation of Cambodia
TheTecho Startup Centrewas launched in 2019 by the government to support young entrepreneurs and aid the Royal Cambodian Government’s plans to transform Cambodia into a digital economy.
The government signed the ASEAN Agreement on e-Commerce in 2019 and in 2020, a number of new digital platforms and projects have been launched or announced.
- Cambodia NationalSingle WindowProject (in accordance with the ASEAN National Single Window initiative)
- In June 2020, the Cambodian Ministry of Industry, Science, Technology and Innovation also is said to be reportedly setting up another online portal, this one is aimed at small and medium enterprises (SMEs), called KhmerSME.
- Cambodian taxpayers can use thee-tax serviceto pay their monthly tax returns.
- In September, Cambodia launched a new Financial Management Information System (FMIS), which together with a tax data management system, intends to streamline governmental financial information.
Read more here on How to use the Cambodia Online Business Registration System.
FAQs
firms in Cambodia operate informally. Only 16 per cent of firms (76,800 firms) are officially registered with the Ministry of Industry, Science, Technology and Innovation and Ministry of Commerce (see table 5).
How much is a business license in Cambodia? ›
It is important to note that the official fees for registering a company in Cambodia range from USD 800 to USD 1,600 depending on the size of the business and the intended business activities. Not all firms include the official fees in their quotes, so please keep this in mind when engaging any services.
How do I get a business license in Cambodia? ›
Registration Steps and Requirements in Cambodia
- Name Search and confirmation.
- Business registration with the MOC.
- Tax registration with GDT.
- Declaration of opening with MoLVT.
- Licensing and other requirements based on operations and industry. ...
- Official Portal to Trademark Registration in Cambodia
Despite all of this, the Cambodian government is very pro-business, and allows 100-percent foreign-owned companies, unlike some of their neighbors. Many businesses fly under the radar of the authorities, and others choose to take over from existing businesses that have already completed the required paperwork.
How many startups are there in Cambodia? ›
In late 2021, around 90 active startups had registered in Startup Cambodia's platform. 1 Since its launch in Cambodia, Impact Hub has supported around 370 startups, of which 40% were active as of the third quarter of 2021.
How many SMEs are there in Cambodia? ›
In 2019, the number of SMEs is reported to be about 520,000 SMEs in the kingdom, according to the Ministry of Industry, Science, Technology, and Innovation, previously known as the Ministry of Industry and Handicrafts (Khmer Times, 2019).
What is the registration tax in Cambodia? ›
Registration Tax is levied at a rate of 4% on transfer of ownership of real property or transfer of occupancy right of land without building in the form of sale, exchange, receiving gift, putting capital in company.
What are the requirements for a company in Cambodia? ›
A basic guideline for incorporating a company in Cambodia
- Open a bank account and deposit at least 25% of registered capital.
- Reserve a business name and get approval of name from Business Registration Department of MoC (BRD)
- Submit registration documents online.
- Make a company seal.
Registered office address
- Application form to Mayor or Phnom Penh.
- Copy of the company's articles of incorporation (if a limited company)
- Copy of registration certificate.
- Copy of business license from the Ministry of Commerce.
- Copy of identity card or passport of the person who signed the application.
Corporate income tax. Cambodia's standard corporate income tax (CIT) rate is 20 percent, which is implemented through a self-assessment regime.
Legal Requirements for Registering a Business in Cambodia
- Choosing a business name that is not already in use.
- Having a registered office address in Cambodia.
- Appointing a resident agent.
- Filing the necessary paperwork with the Ministry of Commerce (MOC).
If you're planning on driving in Cambodia, you should probably get a driving license. Although many expats don't bother, if you're planning to drive in Cambodia it makes sense to get a Cambodian driver's license. Trust us, it's not too difficult and can save you a lot of hassle and fines further down the line.
What is the best investment in Cambodia? ›
Infrastructure and Real estate
Cambodian land and constructed properties have continued to attract high interest from international investors. While external factors such as the global economy will nevertheless influence the market, it is still a very optimistic year for Cambodian real estate.
Is Cambodia a good place to start a business? ›
The growth of the economy provides plenty of opportunities for foreign investors. The International Monetary Fund (IMF) has forecasted that Cambodia will be the third-fastest growing economy in ASEAN in 2021 and the fastest growing economy in the Southeast Asian region by 2025, with a GDP growth of 6.9%.
What is the biggest company in Cambodia? ›
Largest Cambodian companies by market capitalization
| # | Name | C. |
|---|
| 1 | Sihanoukville Autonomous Port 1PAS.KH | 🇰🇭 |
| 2 | ACLEDA Bank 2ABC.KH | 🇰🇭 |
| 3 | Phnom Penh Water Supply Authority 3PWSA.KH | 🇰🇭 |
| 4 | Phnom Penh Autonomous Port 4PPAP.KH | 🇰🇭 |
3 more rowsCambodia currently has 15 state-owned enterprises (SOEs): Electricite du Cambodge, Sihanoukville Autonomous Port, Telecom Cambodia, Cambodia Shipping Agency, Cambodia Postal Services, Rural Development Bank, Green Trade Company, Printing House, Siem Reap Water Supply Authority, Construction and Public Work Lab, Phnom ...
Who is the largest employer in Cambodia? ›
The garment industry is Cambodia's largest employer, employing more than 850,000 people and generating over US$10 billion annually.
What is the main business in Cambodia? ›
Cambodia's two largest industries are textiles and tourism, while agricultural activities remain the main source of income for many Cambodians living in rural areas. The service sector is heavily concentrated on trading activities and catering-related services.
