Capital:  Phnom Penh

Languages: Khmer

Currency:Riel (KHR)

 

OUR SERVICES;                      

• Consultation (in person, online, phone)
• Helping to prepare your documents
• Start to finish your company registration process
• Immigration services

 

Cambodia

 

Cambodia, a vibrant nation in Southeast Asia, possesses a rich history, diverse culture, evolving economy, and a political landscape that has undergone significant transformations. This page provides an overview of Cambodia’s history, culture, economy, and politics.

History: Cambodia’s history is steeped in ancient civilizations, most notably the Khmer Empire. From the 9th to the 15th century, the Khmer Empire thrived, leaving behind remarkable architectural marvels, including the renowned Angkor Wat temple complex. However, the empire eventually declined, leading to periods of regional conflicts and the colonization by European powers.

In the 20th century, Cambodia gained independence from France in 1953. However, the country faced immense challenges during the Vietnam War and the subsequent rise of the Khmer Rouge regime. Under the Khmer Rouge led by Pol Pot from 1975 to 1979, Cambodia endured a dark period marked by mass killings, forced labor, and societal devastation. The regime’s downfall led to a long process of recovery and rebuilding.

Culture: Cambodia’s culture is deeply influenced by Theravada Buddhism, which shapes various aspects of daily life, customs, traditions, and arts. The country boasts a rich cultural heritage that encompasses dance, music, architecture, literature, and cuisine. Traditional dance forms like Apsara dance and classical music, including the Pinpeat orchestra, are revered art forms that represent the nation’s cultural identity.

Economy: Cambodia’s economy has experienced remarkable growth and development in recent years. The primary drivers of the economy include agriculture, garments and textiles, tourism, and a burgeoning manufacturing sector. The country has also seen significant foreign direct investment and an increase in exports. However, Cambodia still faces challenges such as income inequality, poverty, and limited diversification of its economy.

Politics: Cambodia has a constitutional monarchy with a multi-party system. The political landscape has seen various changes and challenges. The ruling Cambodian People’s Party (CPP) has been in power for decades, led by Prime Minister Hun Sen, who has been in office since 1985. The political environment has been marked by debates surrounding human rights, freedom of expression, and the functioning of democratic institutions. The country has made efforts towards democratic reforms, but there are ongoing concerns about political stability and the space for political opposition.

In recent years, Cambodia’s political scene has witnessed international attention and engagement in addressing these issues. It remains a subject of ongoing discussions and efforts by both domestic and international stakeholders to promote democracy, human rights, and political inclusivity

 

Types of Companies in Cambodia

 

Private Limited Company (PLC):

• • PLCs are the most common form of company in Cambodia.
  • Requires a minimum of two shareholders and a maximum of 30 shareholders.
  • The liability of shareholders is limited to their share capital.
  • Must have a registered office and a local director.

Public Limited Company (PLC):

• • PLCs are intended for larger businesses and can offer shares to the public.
  • Requires a minimum of seven shareholders, with no maximum limit.
  • The liability of shareholders is limited to their share capital.
  • Must have a registered office, a local director, and comply with additional regulatory requirements.

Branch Office:

• • A branch office is an extension of a foreign company in Cambodia.
  • Operates under the same legal entity as the parent company.
  • Must have a local representative responsible for operations in Cambodia.
  • Required to register with the Ministry of Commerce and comply with local regulations.

Representative Office:

• • Representative offices serve as a liaison between a foreign company and local businesses.
  • Primarily engage in market research, promotion, and establishing business contacts.
  • Cannot engage in direct commercial activities or generate revenue.
  • Requires registration with the Ministry of Commerce.

Sole Proprietorship:

• • Sole proprietorships are businesses owned and operated by a single individual.
  • The owner has unlimited liability, meaning personal assets are at risk.
  • Simpler to set up and operate compared to other types of companies.
  • Registration with the Ministry of Commerce is required.

Partnership:

• • Partnerships are formed by two or more individuals or entities.
  • General partnerships share unlimited liability among partners.
  • Limited partnerships have both general and limited partners, with limited partners having limited liability.
  • Partnerships are registered with the Ministry of Commerce.

Cooperative:

• • Cooperatives are formed by a group of individuals or businesses with a common interest.
  • Members jointly own and operate the cooperative.
  • The purpose can be to provide goods, services, or support to members.
  • Cooperatives are registered with the Ministry of Commerce.

Microfinance Institution (MFI):

• • MFIs provide financial services to low-income individuals and small businesses.
  • Regulated by the National Bank of Cambodia (NBC).
  • Require a specific license from the NBC to operate as an MFI.

Non-Governmental Organization (NGO):

• • NGOs are non-profit organizations engaged in various social, developmental, or humanitarian activities.
  • Registered with the Ministry of Interior or the Ministry of Foreign Affairs.
  • Operate based on specific goals and objectives.

“Our team can provide assistance if you need help registering a company in Cambodia”

 

Common questions

 

What is the process of registering a company in Cambodia?

The process involves several steps, including reserving a company name, preparing necessary documents, opening a bank account, obtaining necessary licenses, and registering with the Ministry of Commerce.

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

The common types include private limited companies, public limited companies, branch offices, representative offices, sole proprietorships, partnerships, cooperatives, microfinance institutions, and non-governmental organizations.

What is the minimum number of shareholders required for company registration?

Private limited companies require a minimum of two shareholders, while public limited companies require a minimum of seven shareholders.

Can a foreigner be a shareholder in a Cambodian company?

Yes, foreigners can be shareholders in Cambodian companies.

Is there a requirement for a local director?

Yes, companies in Cambodia must have a local director.

How long does the company registration process typically take?

The timeframe can vary, but it usually takes several weeks to complete the registration process.

What are the required documents for company registration?

The documents typically include identification documents of shareholders and directors, articles of incorporation, a memorandum of association, and a lease agreement for the registered office.

Can a company operate without a registered office?

No, every company in Cambodia must have a registered office.

What licenses are required for certain types of businesses?

The licenses vary based on the nature of the business, such as specific licenses for banks, insurance companies, restaurants, or tourism-related businesses.

Are there any restrictions on company names?

Company names should not be similar to existing companies or contain restricted words. The proposed name must be approved by the Ministry of Commerce.

What is the minimum capital requirement for company registration?

There is no specific minimum capital requirement for most types of companies in Cambodia.

Can a foreign company open a branch office in Cambodia?

Yes, foreign companies can establish branch offices in Cambodia.

Are there any restrictions on foreign ownership of companies in Cambodia?

No, there are no restrictions on foreign ownership in most sectors, except for specific industries like land ownership or natural resources.

What are the tax obligations for registered companies?

Companies are subject to various taxes, including corporate income tax, value-added tax (VAT), and payroll taxes.

Can a company change its registered office address?

Yes, a company can change its registered office address by submitting the necessary documents to the Ministry of Commerce.

Can a company change its business activities after registration?

Yes, a company can change its business activities by amending its articles of incorporation and obtaining necessary approvals.

Are there any annual compliance requirements for registered companies?

Yes, companies are required to file annual tax returns, renew their business licenses, and submit annual financial statements.

What are the penalties for non-compliance with company regulations?

Non-compliance can result in fines, suspension of business operations, or even company deregistration.

Can a foreign company register a trademark in Cambodia?

Yes, foreign companies can register trademarks in Cambodia to protect their intellectual property.

What are the rights and responsibilities of shareholders and directors?

Shareholders have ownership rights, while directors have the responsibility of managing the company’s operations and decision-making.

Can a company have multiple directors?

Yes, a company can have multiple directors.

Is it necessary to have a local accountant or auditor for company financials?

Yes, companies are required to appoint a local accountant or auditor to maintain proper financial records and comply with accounting standards.

Can a company engage in multiple business activities?

Yes, a company can engage in multiple business activities, but it should be specified in the articles of incorporation.

Can a company have foreign employees?

Yes, companies can employ foreign staff, but they must obtain necessary work permits and comply with immigration regulations.

Can a company sell shares to the public?

Public limited companies can offer shares to the public, but there are specific regulations and requirements to follow.

Can a company be dissolved or liquidated?

Yes, a company can be dissolved or liquidated voluntarily or through legal proceedings.

What is the role of the Ministry of Commerce in company registration?

The Ministry of Commerce is responsible for registering companies and overseeing compliance with the relevant laws and regulations.

Are there any industry-specific regulations for certain types of businesses?

Yes, certain industries like banking, insurance, telecommunications, and healthcare have specific regulations that must be followed.

Can a company change its legal structure after registration?

Yes, it is possible to change the legal structure of a company, but it requires legal procedures and approvals.

Can a company have a foreign-owned land or property?

Foreign companies can own land or property in specific circumstances, subject to certain restrictions.

Are there any incentives or benefits for registered companies?

The government of Cambodia offers various incentives and benefits to promote investment, such as tax incentives, special economic zones, and investment promotion privileges.

Can a company have a virtual office or use a shared office space as its registered office?

No, a company must have a physical registered office with a proper lease agreement.

Can a company change its company name after registration?

Yes, a company can change its name by following the legal procedures and obtaining necessary approvals.

Is it mandatory to have a local lawyer for company registration?

It is not mandatory, but it is advisable to seek legal advice and assistance from a local lawyer to ensure compliance with the laws and regulations.

Can a company have foreign currency bank accounts?

Yes, companies can have foreign currency bank accounts in addition to local currency accounts.

Can a company have multiple shareholders with different ownership percentages?

Yes, a company can have multiple shareholders with different ownership percentages based on their contributions.

Can a company be registered with a foreign director and no local director?

No, every company in Cambodia must have a local director.

Can a company change its business scope after registration?

Yes, a company can change its business scope by amending the articles of incorporation and obtaining necessary approvals.

Can a company apply for government contracts or participate in public tenders?

Yes, registered companies can apply for government contracts or participate in public tenders if they meet the requirements.

Can a company be registered without a business license?

No, a business license is a requirement for company registration in Cambodia.

Can a company register multiple trademarks?

Yes, a company can register multiple trademarks to protect its intellectual property.

Can a company have a foreign company as a shareholder?

Yes, a foreign company can be a shareholder in a Cambodian company.

Can a company have different classes of shares with different voting rights?

Yes, a company can issue different classes of shares with different voting rights, subject to the provisions in its articles of incorporation.

Can a company operate in multiple locations within Cambodia?

Yes, a company can operate in multiple locations within Cambodia.

Can a company change its company secretary after registration?

Yes, a company can change its company secretary by following the legal procedures and informing the relevant authorities.

Can a company be registered with a virtual shareholder?

No, every company in Cambodia must have at least one physical shareholder.

Can a company have a foreign-owned subsidiary in Cambodia?

Yes, foreign companies can establish wholly-owned subsidiaries in Cambodia.

Can a company have different classes of shares with different dividend rights?

Yes, a company can issue different classes of shares with different dividend rights, subject to the provisions in its articles of incorporation.

Can a company transfer its shares to another shareholder?

Yes, shares of a company can be transferred to another shareholder by following the legal procedures and obtaining necessary approvals.

Can a company change its business name without changing its legal entity?

Yes, a company can change its business name without changing its legal entity by following the legal procedures and obtaining necessary approvals.

 

Major Banks in Cambodia

 

• Acleda Bank Website: https://www.acledabank.com.kh/
• Canadia Bank PLC Website: https://www.canadiabank.com.kh/
• Cambodian Public Bank (Campu Bank) Website: https://www.campubank.com.kh/
• Union Commercial Bank (UCB) Website: https://www.ucb.com.kh/
• Vattanac Bank Website: https://www.vattanacbank.com/
• ABA Bank Website: https://www.ababank.com/
• Advanced Bank of Asia Limited (ABA Bank) Website: https://www.ababank.com/
• Cambodia Asia Bank Website: http://www.cab.com.kh/
• Foreign Trade Bank of Cambodia (FTB) Website: https://www.ftbbank.com/
• Cambodia Post Bank (CP Bank) Website: https://www.cpbank.com.kh/
• Maybank Cambodia Website: https://www.maybank2u.com.kh/
• Phillip Bank Website: https://www.phillipbank.com.kh/
• RHB Indochina Bank Limited Website: https://www.rhbbank.com.kh/
• Sathapana Bank Website: https://www.sathapana.com.kh/
• Taiwanese Commercial Bank Website: http://www.tcbank.com.kh/

 

The top universities in Cambodia

 

Royal University of Phnom Penh (RUPP)

• Location:Phnom Penh
• Website: http://www.rupp.edu.kh/
• Major Courses: Medicine, Law, Engineering, Economics, Computer Science, Education, and more.

Institute of Technology of Cambodia (ITC)

• Location: Phnom Penh
• Website: http://www.itc.edu.kh/
• Major Courses: Engineering (Civil, Mechanical, Electrical, etc.), Computer Science, Telecommunications, Architecture, and more.

University of Cambodia (UC)

• Location: Phnom Penh
• Website: http://www.uc.edu.kh/
• Major Courses: Business Administration, Information Technology, Media and Communications, Law, International Relations, and more.

Royal University of Law and Economics (RULE)

• Location: Phnom Penh
• Website: http://www.rule.edu.kh/
• Major Courses: Law, Economics, Business Administration, Finance, and more.

Pannasastra University of Cambodia (PUC)

• Location: Phnom Penh
• Website: http://www.puc.edu.kh/
• Major Courses: Business Administration, Media and Communications, English Language, Tourism and Hospitality Management, International Relations, and more.

National University of Management (NUM)

• Location: Phnom Penh
• Website: http://www.num.edu.kh/
• Major Courses: Business Administration, Finance and Banking, Marketing, Human Resource Management, and more.

Build Bright University (BBU)

• Location: Phnom Penh
• Website: http://www.bbu.edu.kh/
• Major Courses: Business Administration, Information Technology, Law, Tourism and Hospitality Management, and more.

Norton University

• Location: Phnom Penh
• Website: http://www.norton.edu.kh/
• Major Courses: Business Administration, Computer Science, English Literature, Finance and Banking, and more.

Western University (WU)

• Location: Phnom Penh
• Website: http://www.western.edu.kh/
• Major Courses: Business Administration, Hospitality and Tourism, English Language, Information Technology, and more.

Asia Euro University (AEU)

• Location: Phnom Penh
• Website: http://www.aeu.edu.kh/
• Major Courses: Business Administration, Information Technology, English Language, Law, and more.

“If you need assistance registering for college or university, our team is here to help.”

 

Strange or unusual to visitors in Cambodia

 

Traffic and Driving: The chaotic traffic in cities like Phnom Penh can be overwhelming to visitors. The roads are often congested with various modes of transport, including cars, motorcycles, tuk-tuks, and bicycles. Traffic rules may not always be strictly followed, and the use of horns is common.

Street Food: Cambodia is known for its vibrant street food culture. Visitors might find it unusual to see food stalls offering exotic dishes like fried insects, including crickets and spiders. While it may seem strange, these are considered local delicacies and are often enjoyed by Cambodians.

Bargaining at Markets: Bargaining is a common practice in Cambodian markets, especially in popular tourist areas like the Russian Market or the Night Market. Visitors might find it unusual to negotiate prices with vendors, as it may not be a common practice in their home countries.

Traditional Khmer Clothing: Traditional Khmer clothing, such as the sampot (a wrap-around skirt) and the krama (a checkered scarf), can be seen worn by locals in rural areas or during traditional ceremonies. Visitors may find it interesting and unique to see people dressed in these traditional garments.

Monks and Temples: Cambodia is predominantly a Buddhist country, and visitors might encounter Buddhist monks in their distinctive saffron robes. It is customary to show respect by avoiding physical contact with monks and to dress modestly when visiting temples.

Hand Gestures: Some hand gestures have different meanings in Cambodia compared to other countries. For example, the common “thumbs up” gesture used to indicate approval or agreement in many cultures can be considered rude or offensive in Cambodia.

Floating Villages: The floating villages on Tonle Sap Lake, such as Chong Khneas, are unique attractions in Cambodia. These communities live in stilted houses and rely on the lake for their livelihood. Visitors may find it unusual to see entire villages built on water.

Rural Lifestyle: Venturing into rural areas of Cambodia, visitors may witness a slower pace of life and traditional farming practices. It can be a stark contrast to the bustling cities and modern amenities.

Khmer New Year Celebrations: Khmer New Year, known as “Choul Chnam Thmey,” is a major festival in Cambodia. It usually falls in April and involves water fights and playful activities on the streets. Visitors may find it unusual to see people drenching each other with water as part of the festive celebrations.

Superstitions and Beliefs: Cambodian culture is deeply rooted in folklore, superstitions, and animist beliefs. Visitors may encounter various rituals, amulet sellers, and offerings made to spirits or deities, which can be intriguing and unfamiliar to them.

 

“Tips for Newcomers: Adjusting to Life in Cambodia”

 

Learn the Language: While many Cambodians speak basic English, learning some Khmer phrases can go a long way in communicating and building relationships with locals. Enroll in language classes or use language learning apps to familiarize yourself with the basics.

Understand the Culture: Familiarize yourself with Cambodian customs, traditions, and social norms. Show respect for elders, be mindful of appropriate dress codes when visiting religious sites, and learn about local customs such as removing your shoes before entering homes or certain establishments.

Embrace the Food: Cambodian cuisine is delicious and diverse. Be open to trying local dishes and street food, which is a significant part of the culture. However, ensure that you eat from clean and hygienic food stalls.

Stay Hydrated and Mindful of Health: Cambodia’s tropical climate can be intense, so drink plenty of water to stay hydrated. Pay attention to personal hygiene, use mosquito repellent to prevent mosquito-borne illnesses, and seek medical advice for necessary vaccinations before your arrival.

Build a Support Network: Connect with other expats or join local community groups to build a support network. They can provide valuable insights, advice, and assistance during your transition.

Respect Local Customs and Religion: Cambodia is predominantly a Buddhist country, and respecting religious practices is important. Be mindful when visiting temples, dress modestly, and observe local customs during festivals or ceremonies.

Get to Know Your Neighborhood: Explore your local neighborhood and familiarize yourself with nearby amenities such as supermarkets, pharmacies, hospitals, and transportation options. This will help you settle in more comfortably and become self-sufficient.

Transportation Options: Familiarize yourself with the local transportation system, including tuk-tuks, moto-taxis, and public buses. Negotiate fares beforehand or ensure that the meter is used to avoid overcharging.

Stay Safe: Like any other place, exercise caution and stay aware of your surroundings. Be cautious with your personal belongings, avoid walking alone late at night in secluded areas, and use trusted transportation services.

Embrace the Cambodian Lifestyle: Cambodia has a relaxed and laid-back lifestyle. Embrace the slower pace, take time to enjoy the local culture, and appreciate the natural beauty of the country. Engage in activities such as exploring historical sites, visiting local markets, and participating in community events.

Patience and Flexibility: Adjusting to a new culture takes time, so be patient with yourself and others. Understand that things may not always go as planned, and flexibility is key to adapting to the local way of life.

 

Top recruitment agencies in Cambodia

 

HR Inc Cambodia Website: https://www.hrinc.com.kh/

Top Recruitment Cambodia Website: https://www.toprecruitment.asia/

CAMHR Website: https://www.camhr.com/

Infinity Job Com Website: http://infinityjobcom.com/

Antal Cambodia Website: https://www.antal.com/office/cambodia

Phnom Penh HR Website: https://www.phnompenhhr.com/

HR Cambodia Website: http://hrcambodia.com/

EVERBRIGHT HUMAN RESOURCE CO., LTD. Website: http://everbrighthr.com/

JAC Recruitment Cambodia Website: https://www.jac-recruitment.kh.com/

Ajob Cambodia Website: https://www.ajobcambodia.com/

 

Necessary phone numbers in Cambodia

 

HR Inc Cambodia Website: https://www.hrinc.com.kh/

Top Recruitment Cambodia Website: https://www.toprecruitment.asia/

CAMHR Website: https://www.camhr.com/

Infinity Job Com Website: http://infinityjobcom.com/

Antal Cambodia Website: https://www.antal.com/office/cambodia

Phnom Penh HR Website: https://www.phnompenhhr.com/

HR Cambodia Website: http://hrcambodia.com/

EVERBRIGHT HUMAN RESOURCE CO., LTD. Website: http://everbrighthr.com/

JAC Recruitment Cambodia Website: https://www.jac-recruitment.kh.com/

Ajob Cambodia Website: https://www.ajobcambodia.com/

 

The best way to immigrate to Cambodia

 

Business Visa: One way to immigrate to Cambodia is by starting a business or investing in an existing business. You can apply for a Business Visa (also known as an “E” visa) through the Ministry of Foreign Affairs and International Cooperation or the Cambodian Embassy/Consulate in your home country. This visa allows you to live and work in Cambodia for an extended period, usually one year.

Employment Sponsorship: If you have secured a job offer from a Cambodian company, they can sponsor your employment and assist you in obtaining a work permit. The employer needs to demonstrate that the position cannot be filled by a local candidate, and the necessary paperwork must be submitted to the Ministry of Labor and Vocational Training.

Retirement Visa: Cambodia offers a Retirement Visa for individuals who are at least 55 years old and can demonstrate a stable income or savings to support themselves in Cambodia. This visa allows retirees to live in Cambodia long-term.

Marriage to a Cambodian Citizen: If you are married to a Cambodian citizen, you can apply for a Marriage Visa, which allows you to live in Cambodia. The marriage needs to be legally recognized and registered with the Cambodian authorities.

Investment in Real Estate: Another option is to invest in real estate in Cambodia. By purchasing property above a certain threshold, you may be eligible for a long-term stay permit.