How to start new business in Cambodia
The following are the requirements for forming a company in Cambodia:
- Deposit the required initial capital (minimum of CR2 Million or US$474.21) in any authorized bank. The bank will then issue a certificate of the deposit.
- Check the uniqueness of the company name at the Ministry of Commerce. This process costs about US$10 and takes five days to complete.
- Obtain a company registration form (CIB 01R) from the Cambodian Investment Board. This may also be downloaded from the CIB website – http://www.cambodiainvestment.gov.kh, and costs US$5-US$10.
- Companies are required to have company seals. These are usually made by the Ministry of Commerce but the company may choose to have it done elsewhere. The seal costs about US$15.
- An abstract of the company organization documents, such as the by-laws, memorandum and articles of association, must be published in a recognized public newspaper. This should contain the following:
- Name of the company
- Form of the company
- Summary of business objectives
- Office address
- Term of the company
- Total capital in cash
- Name and family name, occupation, nationality, address of a director and/or auditor
- The location where the company is to be registered
Publication will cost around US$42 and will take seven days to be released. At least two copies of the approval of the newspaper and application documents must be secured for applying for registration.
- Enrollment in the Commercial Register is required within one month of establishment and/or 30 days prior to the start of commercial operations. The following documents are required to be submitted to the Registrar at the Ministry of Commerce:
- Copies of Registration Application Form
- Memorandum and Articles of Association (2 copies)
- Statement of Conformity (2 copies
- Application for publication in the authorized newspaper (2 copies)
- Copies of identification cards or passports of directors and shareholders (2 copies)
- Photos of directors and shareholders (2 copies)
- Declaration of non-guilty of directors (2 copies)
- Decision of share contribution (2 copies)
- The registration documents must then be stamped and approved by the Phnom Penh Tax Department. This can be accomplished in one day. The fee is US$26.
- Tax registration is required at the Real Regime Tax Office.
- The Ministry of Labor must be notified when starting operation and hiring or dismissing employees.