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Cambodia

Legal form:

LLC, LLP, PLC

Delivery:

2 weeks

Price: $

1500

Payment methods:

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Requirements:

Document checklist:

Local legal address (Handled by B2B Hub) 

1.Passport
2.Proof of Residence 

Registrar

Organization name

Abbreviation

Country

Cambodia

Email

Phone

Listing
Open website
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About

Cambodia

Capital
Official languages
Population 
Currency

ISO 4217

Phnom Penh

Khmer

16,204,486 (as of July 2019)

Cambodian Riel

KHR

FAQ

Frequently Asked Questions (FAQ) for Company Formation in Cambodia:


Q: What are the types of companies that can be registered in Cambodia?

A: The types of companies that can be registered in Cambodia are:

- Sole Proprietorship

- Partnership

- Limited Liability Company (LLC)

- Public Limited Company (PLC)

- Branch Office

- Representative Office


Q: What is the minimum capital requirement to register a company in Cambodia?

A: There is no minimum capital requirement to register a company in Cambodia. However, for an LLC, the government requires that the initial capital is at least KHR 4 million (approximately USD 1,000).


Q: Can foreigners own 100% of a company in Cambodia?

A: Yes, foreigners can own 100% of a company in Cambodia.


Q: What are the steps involved in registering a company in Cambodia?

A: The steps involved in registering a company in Cambodia are:

1. Reserve a company name with the Ministry of Commerce

2. Register the company with the Ministry of Commerce

3. Obtain a business license from the Ministry of Commerce

4. Register for tax with the General Department of Taxation

5. Register for social security with the National Social Security Fund (NSSF)


Q: How long does it take to register a company in Cambodia?

A: It usually takes around 4-6 weeks to register a company in Cambodia.


Q: What are the tax implications of starting a company in Cambodia?

A: Companies in Cambodia are subject to various taxes, including profit tax, value-added tax (VAT), and withholding tax. It is recommended to consult with a tax professional to ensure compliance with Cambodian tax laws.


Q: Do I need a local partner to register a company in Cambodia?

A: No, you do not need a local partner to register a company in Cambodia. However, it is recommended to work with a local lawyer or consultant to ensure compliance with local regulations.


Q: Is it necessary to have an office in Cambodia to register a company?

A: Yes, it is necessary to have a registered office in Cambodia to register a company.


Q: What documents are required to register a company in Cambodia?

A: The documents required to register a company in Cambodia are:

- Memorandum and Articles of Association

- Identification documents of shareholders and directors

- Business plan

- Proof of address for the registered office

- Certificate of incorporation (if registering a foreign company)

- Power of attorney (if registering through a representative)


Q: Can I register a company online in Cambodia?

A: No, company registration in Cambodia must be done in person at the Ministry of Commerce.

Economy

"Cambodia has seen a steady growth in its economy over the past few years. According to the World Bank, the country's GDP grew by 7.1% in 2019, making it one of the fastest growing economies in the world. The country's exports have also seen a significant increase, with exports reaching $14.7 billion in 2019, up from $12.3 billion in 2018. The country's main exports include garments, footwear, and agricultural products.

The country has also seen a rise in foreign direct investment (FDI), with FDI inflows reaching $3.2 billion in 2019, up from $2.7 billion in 2018. This has been driven by the country's strong economic growth and its attractive investment climate.

Cambodia has also seen a rise in tourism, with the number of international visitors reaching 6.2 million in 2019, up from 5.6 million in 2018. This has been driven by the country's rich cultural heritage and its beautiful beaches.

Overall, Cambodia has seen a steady growth in its economy over the past few years, driven by strong economic growth, increased exports, and increased foreign direct investment. This has been further bolstered by the country's attractive investment climate and its growing tourism industry."

Taxation

Cambodia is a country located in Southeast Asia with a relatively simple tax system. The tax system in Cambodia is regulated by the Law on Taxation and administered by the General Department of Taxation.


Personal income tax is levied on all residents of Cambodia, including foreign nationals who reside in the country for more than 182 days per year. The tax rates are progressive, ranging from 0% to 20%, depending on the income level. The first KHR 1,200,000 of annual income is exempt from taxation, and there are various deductions and credits available to reduce the tax liability.


Corporate income tax is levied on all companies and businesses operating in Cambodia. The standard corporate tax rate is 20% on the net taxable income. However, there are various tax incentives available for certain industries and activities, such as the promotion of research and development and investment in certain regions of the country.


In addition to federal taxes, there are also other taxes levied on businesses operating in Cambodia, such as the value-added tax (VAT), which is currently 10%, and various excise taxes on certain products.


The tax year in Cambodia runs from January 1st to December 31st. The deadline for filing personal income tax returns and paying any outstanding tax is usually March 31st of the following year, while the deadline for filing corporate tax returns and paying any outstanding tax is generally June 30th of the following year.


Payments can be made online or in person at designated banks. Penalties for late payment or non-payment of taxes can range from fines to imprisonment, depending on the severity of the offense. Additionally, interest may be charged on any outstanding tax liability.


Overall, taxation in Cambodia is relatively simple, with a moderate tax burden compared to other countries in the region. It is important for taxpayers to consult with local tax advisors or government authorities to ensure compliance with the relevant tax regulations.

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