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Doing Business in Cambodia

Doing Business in Cambodia 2014

... a guide for investors answering their most frequently asked questions
© Sciaroni & Associates 2014
This booklet has been prepared by Sciaroni & Associates; it contains answers to frequently asked questions with regard to investing in Cambodia. It has been checked for accuracy but there may be errors and omissions. Cambodia is still developing and laws can change rapidly. Sciaroni & Associates cannot be responsible for the accuracy of the information contained in this booklet. The information  provided is not to be substituted for professional legal advice.


Table of Contents

Setting up a Business


Investment law 


Ownership of Land & Property 


Import and Export 


Closing a Business


Banking & Finance 


Labor and Immigration 


Dispute Resolution 




Intellectual Property




Embassies and Consulates


Business and Trade Associations

Firm Profile
A long-standing presence in Cambodia has enabled Sciaroni’s partners and associates to acquire considerable knowledge of the workings of government. Today, the firm uses its considerable expertise to offer a wide variety of commercial and investment services critical to doing business in Cambodia. From investment, property, commercial and company   creation   to   project   financing,   the   firm   specializes   in personalized service underpinned by experience, and these virtues are reflected in the strength of its client base.
Besides the more conventional investors, the firm has proved popular with the diplomatic community as well as a host of non-governmental organizations.
According to Chambers, Sciaroni & Associates offers “unbeatable client-service - personalized, proactive and spot-on advice every time Bretton G. Sciaroni does not simply quote the law, but offers guidance on the business decisions we can make stress-free.” 
Chapter 1: Setting up a Business

Most investors find it easy to start a business in Cambodia. It has a more liberal business environment since becoming a member of the World Trade Organization and passing the Law on Commercial Enterprises in 2005. This law brought changes in procedure and requirements for setting up a business, and more reforms are expected as this law becomes fully implemented.

1. What types of business entities can be formed in Cambodia? What is the most common vehicle used by investors?

One of the first steps that any investor will take is to select the right structure for their investment. The 2005 Law on Commercial Enterprises lists the principal forms, from limited liability companies, branch and representative offices, to sole proprietorships and partnerships. The most common type of business structure is the Limited Liability Company (LLC).

2. How does an investor set up a Limited Liability Company (LLC)? What are the minimum capital requirements? What are the shareholders’ liabilities?

It is a routine process to set up the LLC. The first step is filing an application with the Ministry of Commerce.

The Law on Commercial Enterprise requires a minimum capital investment of four million Khmer Riel, or about US $1,000, at the current exchange rate.

The shareholders liability is limited to the value of his/her capital contribution.

3. Can a business be 100% foreign-owned? Is a foreign enterprise required to have a Cambodian partner?

LLCs may be 100% foreign owned, unless they plan to own land (where a minimum local shareholding of 51% is required).  Both single shareholder and multiple shareholder companies are permissible. 

4. What government approvals, permits and licenses are required? Which ministries or other government institutions are in charge of granting licenses and approvals?

All businesses need a Commercial Registration Certificate (also known as a Certificate of Incorporation or Business Certificate) from the Ministry of Commerce; a Patent Tax Certificate and a VAT certificate from the General Department of Taxation of the Ministry of Economy and Finance; and an Office Registration Certificate from the provincial or municipal Office of Commerce. Licenses may also be required in addition to or as a part of the commercial registration and investment approval processes, for example, for tourism, mining, handicrafts, factories, energy, water supply, banking, construction, land or water transportation and for agro-industry, forestry and fisheries

5. Can these licenses and permits be assigned?

An investor can assign government approvals to a third party simply by filing a notification with the Ministry of Commerce and the General Department of Taxation. However, the assignment of specialized licenses may need prior approval from the relevant ministries or government institutions.

6. How long does it take to register an LLC? Is there a One-Stop-Shop system to make the process easier?

The entire company and tax registration process generally takes around three months, including the preparation and compilation of the application pack (generally two to three weeks), processing by the Ministry of Commerce (four to six weeks) and processing by the General Department of Taxation (generally two to three weeks).For the time being, the government only coordinates a One-Stop-Shop system for setting up an investment project company, not for a regular LLC. This is supervised by the Council for the Development of Cambodia (CDC).

7. When is registration required? Are there any penalties for failure to register?

A company engaging in a commercial activity must be listed on the Commercial Register of the Ministry of Commerce. Registration with the General Department of Taxation is required within 15 days of commercial registration with the Ministry of Commerce.

Failure to register with the General Department of Taxation can give rise to fines and the possibility of a criminal charge. The General Department of Taxation can register companies that fail to do so and determine the effective dates of those registrations. As a result, companies that have not registered for tax could owe back taxes.

The General Department of Taxation is required to send a reminder letter to a taxpayer at least 15 days before proceeding with any recovery measure, which can include a lien or confiscation and can request that other authorities nullify various permits and licenses. Such action could result in cancellation of the business license or the deregistration of the company from the Commercial Register.

8. What kind of information must an investor disclose and report in applying to register a company and an investment project? Does this information become available to the public and competitors?

For the purposes of establishing a company the Ministry of Commerce does not require financial or project information.  However, an investor needs to disclose to the CDC information concerning corporate structure, investment plans, sub-projects, and development schedules. Information about the corporate structure is considered public but most other information is kept confidential.

9. Are share certificates issued? What is required to transfer shares?

Although the Law on Commercial Enterprises does refer to share certificates, issuance of such is not common in Cambodia.  In practice, the MoC (and in case of investment companies, the CDC) does not maintain a register of share certificates.  As such, the document proving the shareholding status is the company’s latest Memoranda & Articles of Asscoiation, as approved by and filed with the MoC (and the CDC in the proper case).  At present, share certificates are considered internal instruments within the company, which are not filed with or endorsed by any government authorities.

Share transfer will therefore be done by way of an amendment to the shareholding stated in the Memoranda & Articles of Association, and will be completed once the relevant authorities have approved and accepted to register the new Memoranda & Articles of Association reflecting the post-transfer shareholdings and issue a letters of approval to that effect. 

10. Is a company required to carry insurance? If so, what kinds of risks are insured?

Insurance law in Cambodia is still under development. The existing law basically covers many types of liability risks and medical risks, but not business risks. Risks fall into two categories in the law:

Certain companies in particular those using motor vehicles or engaged in construction - are required to carry liability insurance.

11. Does Cambodia have Special Economic Zones (SEZs)? Are there any special rules to follow?

Aware of the success of SEZs in attracting investment, increasing exports and creating jobs in other countries, the government has instituted a system for establishing and regulating these separate, fenced customs territories.

The CDC is the government office that approves and regulates SEZs. The   CDC   has approved 19 licenses so far yet so far there are only a few in operation. These include the Manhattan Special Economic Zone in Svay Reing Province near the Vietnamese border and the Phnom Penh Special Economic Zone jointly established by a local company and a Japanese company. In addition SEZs are in operation in Sihanoukville, Poipet and Koh Kong.

All business activities allowed in Cambodia are allowed in SEZs. There are no special restrictions of business activities in SEZs. Businesses locating in an SEZ that are approved as Qualified Investment Projects (QIPs) are eligible for all QIP benefits   and incentives.  In addition QIPS located in SEZs are also entitled to VAT exemption for imports (this does not apply to QIPS located outside of SEZs).

SEZ customs   regulations   generally allow a free flow of materials and products into and out of the SEZ, although goods that move into the country for retail are subject to standard import duties. SEZs offer investors One-Stop-Shop permitting and other benefits.

Chapter 2: Investment law

Cambodia has adopted a liberal foreign direct investment policy without bias or discrimination. The open door policy imposes few restrictions on foreign investment, and with its potentially abundant natural resources, relatively inexpensive and motivated labor force and warm climate, Cambodia offers advantages and significant potential in many industries.  These include agriculture and agro-industry, food processing, tourism, mining, land, labor intensive industries such as manufacturing and service industries. Cambodia’s rich historical heritage and beautiful coastline, mountains and forests offer foreign investment opportunities.  Cambodia offers guarantees, incentives and simplified investor friendly procedures.

12. Where do you start when you want to invest in Cambodia?

For  most  investors,  the  place  to  start  is  the  CDC. Established by the 1994 Law on Investment, the CDC is the one-stop decision-making body for private and public sector investment. It is chaired by the Prime Minister and composed of senior ministers from various government agencies. The Cambodian Investment Board (CIB) is the CDC’s operational arm for private sector investment. The CIB reviews investment applications and grants concessions to investors and investment projects meeting the requirements laid out in the Investment Law.

13. What incentives and other benefits does the country offer investors? Are there other benefits?

The types of investment incentives that may be available for qualified investment projects (QIPs) include:

Some activities are not eligible for incentives, and some are prohibited.

14. Are companies free to make contracts and other agreements with other companies?

Companies may contract freely, subject only to restrictions on illegal or immoral activities or those that threaten public order.

15. Are there any foreign exchange restrictions? Are investors free to take profits out of the country?

There are no restrictions on the transfer of funds into or out of Cambodia through banks.  Subject only to a withholding tax on profits, investors can freely repatriate the proceeds from their investments. In the event of liquidation, an investor is free to transfer the proceeds.

Chapter 3: Ownership of Land & Property

Cambodia enacted its current Land Law in 2001, establishing a national registration system. Under this system, registration of title on the national register is conclusive evidence of ownership, and all transfers of land must be registered in order for ownership to pass. The system is similar in nature to the Torrens Title system used in Australia, being a Title by Registration system rather than a Recordation system, such as in the US and Japan. There is no need to trace title in order to prove valid ownership.

Currently much of the land is under “possession” status, a holdover from the former socialist system of land holding.  For those with possession status, proving 5 years continuous possession is sufficient to convert this status to “ownership” status.  This is achieved by undertaking “first time registration.” Once registered for the first time, title can be passed by having the Cadastral office amend the Register to replace the transferor’s name with the incoming transferee.

16. What are the categories of land rights?

Private ownership of land is permissible for all types of land.  At present, three main types of land tenure exist:

17. Are there any laws restricting the ownership of any interest in land by foreign persons or entities?

There is a general prohibition on foreign ownership of land. This prohibition is in the Constitution and the Land Law. There are no exceptions.

The following options are available to foreigners who want an interest in land in Cambodia:

18. What instruments evidence ownership of real property?

Because private ownership was not possible before the enactment of the Land Law, the national land registration process was started only after 2001. In effect, many properties remain unregistered. These parts of land are normally held under a variety of documentary forms, normally recognized by the local level authorities, ranging from an application for land occupation to a letter of transfer acknowledged by local authorities to even a simple and private sale-purchase agreement. All of these are known as “soft title” documents, which are soft legally and physically (i.e. in terms of both the legality and the sheet of paper).

When a property is held under a soft title, there is a risk that there might be competing claims to title since it is not confirmed and recorded at the national level registry. In addition, other problems associated with a soft title may arise, which will potentially lead to disputes, including duplicates of soft title documents issued to different applicants, issuance of a soft title document against the existence of a hard title certificate, issuance of a duplicate soft title while the property has been encumbered, or issuance of a soft title over State’s property.

“Hard title” refers to three types of property title certificates which have been registered with the national Cadastral: Certificate of Land Use and Occupation Rights, Certificate of Immovable Property Possession, and Certificate of Immovable Property Ownership. Of the three, the first two are registered sporadically and indicate possessory status whereas the last one, which is registered systematically in relation to the adjoining parcels, is the strongest and definite one and indicates full ownership status. The first two types of hard title remain theoretically contestable, but in fact they are also registered with the national-level cadastral registry, and there has been hardly any case of dispute pertaining to their status.

There are two ways that a “soft title” may be registered (and thereby converted into a “hard title”) in Cambodia:

Please note that sporadically registered title may be converted to full ownership title once the systematic registration is conducted.

19. How reliable is the register?

The register is conclusive evidence of what is registered. However, there are currently many transactions conducted which go unregistered. The law favors registered rights, but the system is new and it is probable that the courts would recognize an unregistered right.

20. Is the register public? What is the process for dealing with queries arising on a registration? Are the land and buildings registers held in paper or electronic form?

The register is public. However, in order to search the registry it is usually necessary to provide a copy of the title deed for which confirmation of the status is being sought.

All queries go to the Cadastral office for nationally registered land. For unregistered land the queries are made to the local and district land offices. Registers are in both paper and electronic. Slowly, the system is becoming all-electronic, with paper print outs.

21. Is there a combined land and buildings registry?

There is only one register and all properties are registered by the land upon which they are located. Note however that there is a separate registrer for ownership of buildings, but to our knowledge it is not used.

22. Who may register a property transfer? How long does the registration process take?

Both parties to a transaction must sign (in person before Cadastral officials) on any dealing instrument to be registered with the Cadastral. The registration process can take 3 to 6 weeks for a transfer registration to be completed, depending on the location of the property.

In the case of companies, the local authorities require a resolution and power of attorney from all shareholders granting power to the signing member of the company.  In the case of a married person, the spouse needs to also sign, and for an unmarried person, a “declaration of single status” needs to be signed.

Transfers of “soft” titles (which only registered with local authorities) can be effected very quickly, often within one to two days.  Both parties will be required to thumb-print the soft title transfer documentation before the relevant local authorities.

23. Do taxes, assessments, duties, rates or other charges have to be paid prior to acceptance for registration of a document?

For transfer applications, a 4% transfer tax of the Government-assessed value of the land has to be paid as well as any unused land tax (charged on all unused portions of land over a standard size residential block) before the authorities will issue the updated title deed.  At law, the transfer tax is for the account of the buyer, but in practice it is commonly paid by the seller (who often uses the deposit monies received from the buyer for this purpose).

There is no transfer tax payable in respect of the transfer of soft titles.

24. Is all land surveyed?

No. As a result, a common problem is overlapping boundaries. There was no technically reliable way of demarcating boundaries in the old days, and the overlaps can be substantial in respect of soft titles.  Surveys are however conducted on all land registered at the national Cadastre. Official computerized maps are available of all areas already subject to the government systematic registration program.

25. What are typical leasing arrangements?

Usually leases are negotiated on a case by case basis in accordance with   the   format   required   by   the   lessor.   There   is   currently   no common/standard lease arrangement. Leases of between15 to 50 years form a right “in rem” and burden any incoming buyer of the property and  may now be registered on the Title Deed.  In addition a Long Term Lease Certificate will be issued confirming the leasehold. The document takes the same form as a Title Deed and is designed to allow leases to be used as collateral for loans.

26. What is the current taxation system in Cambodia with regard to property? What unpaid taxes, if any, may become an encumbrance on the title to property?

There is a property tax of 0.1% (one tenth of a percent) of 80% of the “Immovable Property Value”, to be determined by the “Immovable Property Assessment Committee”. The taxable amount shall be the Immovable Property   Value times 80% minus 100,000,000 Riels (approximately US$ 25,000).

At this time the only taxes which become an encumbrance on a title are unused land taxes (only applicable on undeveloped properties) and the above mentioned property tax.

At the current time property taxes are being introduced on a phased basis, and accordingly not all regions are yet subject to property tax.

27. Is there a condominium law? Can the condominium title be registered as real property?

The Law on Providing Foreigners with Ownership Rights in Co-Owned Buildings (promulgated 24 May 2010) permits foreigners to own certain qualifying condominiums provided that:

It is predominately newly constructed apartment buildings that have “strata” titles.  It is technically possible to convert the title of an older, existing building to a strata title, but to our knowledge, has not yet been done.

A separate title is issued for each qualifying condominium.

28. What law and practices are there allowing the state to take property for public use?

It is open to the Royal Government of Cambodia to expropriate private land if it considers it to be in the public/national interest.  The Law of Expropriation provides for compensation for affected landowners.

29. Are there standard loan and mortgage contracts typically used in Cambodia?

There is no “typical” mortgage agreement. These differ according to the lender. The mortgage instrument to be registered with the Cadastral authorities is, however, a standard government form in Khmer.

Under the Land Law, there are 3 types of secured loans: mortgage, antichrese and gage. In an antichrese the creditor takes possession of the property; in a gage the creditor takes possession of the title deed; in a mortgage the creditor merely takes a right to foreclose but not possession of either the property or title deed.

In practice, however, it is common that lending institutions demand the possession of title deeds from mortgagees before extending loans. This restricts the owners of the mortgaged properties from entering into other mortgage agreements with other creditors.

30. What legal process would the Lender be required to follow when a debtor has defaulted on a mortgage?

The lender files a civil lawsuit to the court in the case of default of payment by the mortgagor. The only remedy is to ask the court to sell the mortgaged property by auction or tender and claim repayment of the debt from the sale proceeds.

Chapter 4: Import and Export

Customs procedures have been simplified and automated through Asycuda which was implemented in 2008 in Cambodia. The measures were implemented under the 2007 Law on Customs and various regulations to reduce customs clearance delay and costs and facilitate faster and more reliable international trade between Cambodia and other countries. Recently, there has been a concerted effort to curtail all illegal goods being imported into the country and there has been an increase in the duty fees.

31. Is Cambodia a party to regional and bilateral free trade agreements?

Cambodia has been a member of the Association of Southeast Asian Nations (ASEAN) since 1999. Membership in the association allows access to the ASEAN Free Trade Area and it has several bilateral free trade agreements with neighboring countries.

In 2004, Cambodia was admitted to the World Trade Organization, which expanded trading opportunities between Cambodia and the rest of the world.  

32. Is a license required for import or export?

Yes certain items may need to be licensed and as an importer and exported it would be required that there is a check with the relevant ministry before a company engages in importing and exporting.  

33. Are there restrictions for import or export?

The government may prohibit or restrict the import or export of certain goods that could affect national security; public order and standards of decency and morality; health; national treasures of artistic, historic or archaeological value, or natural resources and waste.

Please note that if you business is an import and export business you will need a patent tax that states that is the business objective

34. What duties and tariffs and VAT are required for import and export?

Goods entering or leaving the national customs territory are subject to duties and taxes as specified in the Customs Tariff, which is updated annually. Personal shipments may be subject to duty . The customs territory of the Kingdom of Cambodia includes the land and water, airspace and offshore islands, everything including the Special Economic Zones.

The taxable price of imported goods includes the cost, insurance and freight (CIF) at the border check points of Cambodia. If exported goods are subject to  tax then it is FOB on the price at the border check points of Cambodia.

The VAT applied to imported goods used or consumed in Cambodia and for services rendered in Cambodia is levied at the current rate of 10%. The VAT is 0% for goods exported or services rendered outside of Cambodia.

35. How are goods cleared through Customs?

Goods are cleared at the border or at internal border check points including airports, seaports and dry ports and in the border areas. Most goods are imported or exported through Phnom Penh International Airport or Sihanoukville seaport, the only deep seaport in Cambodia. The Phnom Penh dry port on the Mekong has been increasing busier and is now located outside of the city.  

Procedures for import and export through the various border check points has been regularized. The import or export of goods can be done by the legal representative of the company, or by a broker licensed by Department of Customs and Excise.

Chapter 5: Closing a Business

Termination, Bankruptcy & Insolvency

A business cannot be terminated without government intervention. The general dissolution of a business in Cambodia is governed by relatively new laws and guidelines from the Ministry of Commerce. A company ceases to exist on the date shown in a certificate of dissolution issued by the Ministry.  The  courts  can supervise  the  liquidation  process  if  the  Ministry  or  another  party requests. Banking and insurance businesses are subject to separate procedures.

36. What are the tax consequences of terminating a business?

Terminating a business requires obtaining a certificate of tax clearance from the General Department of Taxation of the Ministry of Economy and Finance. Before issuing the certificate, the General Department of Taxation will audit the company’s tax records to determine whether taxes are owed.

37. What procedures and costs are involved in termination? How long does it take?

In the first instance, an application is submitted to close the company at the General Department of Taxation with a view to obtaining a “Tax Clearance Certificate” (which can thereafter be submitted to the Ministry of Commerce for the purposes of the liquidation application).  A preliminary audit will be conducted by the appointed auditor notwithstanding whether the company has complied with all the tax filing requirements.  In rare cases a comprehensive audit will also be required.  Note that this can be a lengthy process, and can take up to six months before a Tax Clearance Certificate is issued.

Once a Tax Clearance Certificate has been obtained, an application for closing the company in the commercial register must be filed at the Ministry of Commerce.  Once this application has been processed, the Ministry of Commerce will issue a “Certificate of Closing”.  Typically, it takes one to two months from the submission of the liquidation application to the Ministry of Commerce, to when the Certificate of Closing is finally issued.

38. What   is   the   legal   ground   for   opening   insolvency proceedings against a person or business entity?

A petition to open insolvency proceedings can be filed if the debtor fails to pay debts of 5 million Riel, or about US$1,250. In general, a petition to open insolvency proceedings can be filed by a debtor, one or more creditors, the Ministry of Commerce or the public prosecutor.

39. Are there provisions governing order of priority in the payments of debts in case of liquidation? Is reorganization of a business allowed under Cambodian law?

Companies seeking to liquidate must pay debts according to the following priority:

  1. employee wages, administrator’s remuneration and fees, administrative courts fees;
  2. secured claims up to a certain value;
  3. state taxes whose notice is not filed; and
  4. all other admissible unsecured claims.

Reorganizing a debtor’s business is subject to the judgment of the court and the company’s creditors.

40. Is it routine to carry out a bankruptcy search of an individual or a company?

The Law on Insolvency is only recently enacted and there is not yet an operational mechanism for a bankruptcy search in Cambodia. It is not possible to undertake a reliable and expeditious bankruptcy search through the Cambodian courts.

Chapter 6: Banking & Finance

The National Bank of Cambodia (NBC) has the exclusive responsibility for the licensing and supervision of banks and financial institutions.  The principal financial institutions include Commercial Banks, Specialized Banks and Micro-Finance Institutions (MFI). The NBC also licenses and/or regulates Rural Credit Operators, Informal Money Lenders, Financial Leasing Companies, Money Changers, Third Party Processors, and the business of import and export of precious metals and stones.

Regulated banking operations include: (i) credit operations to the public for valuable consideration, including leasing, guarantees and commitments under signature; (ii) the collection of non‑earmarked deposits from the public; and (iii) the provision of means of payment to customers and the processing of said means of payment in national currency or foreign exchange.  Any entity carrying out even one of these three types of activities shall be considered de facto to be engaged in banking and must be licensed by the NBC.

Commercial banks may engage in all banking operations. 

Specialized banks are defined as a licensed financial institution that engages in any one of the three baking operations.  To date, specialized banks may not accept non-earmarked deposits from the public. 

MFIs may engage in banking operations as permitted by their license, which with the permission of the NBC may include the taking of deposits.                                                          

Banks may outsource, subject to approval of the NBC, certain of their services to third party processors.     Third party processor licenses may permit the service of money remittance by mobile phone or other means

41. Are foreign-owned banks allowed?

There is no nationality restriction on shareholding.  There is no local equity requirement.  Foreign-owned banks are permitted, either incorporated locally or as a branch.   A   foreign   bank   may   also   open   an   information,   liaison   or representative office, but these offices are not entitled to carry out banking operations.   There are no nationality restrictions on directors.

42. Can money be freely and reliably transferred into and out of the country?

The Foreign Exchange Law of 2007 places no restrictions on the transfer of funds to or from Cambodia, provided that the transfers are made through an “authorized intermediary,” i.e. a bank that is permanently established in Cambodia.   However, Cambodian financial institutions are subject to the provisions of Anti-Money Laundering laws and banking regulations which require compliance structures and reportings to the NBC. 

43. What   is   required   to   establish   a   bank/financial institution? What licenses and other government approvals are required?

An application for the relevant license must be made to the NBC.   If the NBC finds the applicant to be qualified, the NBC will issue an “in principal” approval.  This “in principal” approval will state the conditions the applicant must comply with in order to be granted a license.  Only when the conditions are complied with will the NBC issue the operating license.

In issuing a banking license, the NBC examines the qualifications of the applicant, including its shareholders, management board, capital and financial  position,  and  the  adequacy  of  its  human,  technical,  and financial  resources. 

The NBC considers the applicant’s “influential shareholders”.  An influential shareholder is one who directly or indirectly holds at least 20% of the share capital or voting rights of the applicant. Influential shareholders may be ordered by the NBC to increase the bank’s net worth if the banks solvency standards are not met.

A commercial bank, with at least one influential shareholder that is a bank or financial institution with an “investment grade” rating issued by a reputable rating agency, has a minimum capital requirement of US$ 12.5 million. Otherwise the minimum capital requirement is US$ 37.5 million.

A specialized bank, with at least one influential shareholder that is a bank or financial institution with an “investment grade” rating issued by a reputable rating agency, has a minimum capital requirement of $ 2.5 million. Otherwise the minimum capital requirement is US$ 7.5 million.

A  MFI that only offers credit facilities has a minimum capital requirement of US$ 62,500. A MFI licensed for credit and savings mobilization must have a minimum capital of US$ 2.5 million.

44. What is required to transfer shares in a bank or financial institution?

As a practical matter, the prior approval of the NBC for any change in shareholding is required.  Upon the approval of the NBC, the Articles of Incorporation showing the new shareholding structure will be submitted to the Ministry of Commerce for registration.  Upon registration at the Ministry of Commerce, the new shareholding structure will be in effect.

45. Can a bank or financial institution hold shares in other companies?

A financial institution can hold shares in other companies, but there are limits regarding the amount of funds it can use, depending on the type of industry. In addition, certain types of equity participation require prior approval from the NBC.

46. Are loans given to or received by a bank or financial institution subject to approval, filing or notification?  Who (lender or borrower) will be required to obtain such approval, filing or notification, if any?

No prior approval is required for banks or financial institutions to accept loans. But all sources of banks’ funds, including loans received from lending institutions, must be included in monthly reports to the NBC.   In January 2014, the General Department of Taxation issued instructions regarding the registration of loans.  Loans not registered by the borrower within 30 days of the loan transaction may subject the lent amount to being treated as income at a tax rate of 20%.

47. Are there restrictions on the interest rate of loans provided by and/or received by a bank/financial institution?

The Civil Code provides that the interest rate shall be 5% per annum unless otherwise agreed between the parties.  However the agreed interest rate may not exceed the legal maximum, which is 18% per annum according to a regulation published by the Ministry of Justice of the Kingdom of Cambodia.  If the agreed interest rate exceeds the maximum interest rate, the borrower will be only obligated to pay the maximum interest rate.  Customers must be provided with clear information with respect to interest rates, charges, and changes thereto.  The NBC has issued regulations mandating transparency with respect to banks grating credit facilities to customers.

48. Are there foreign exchange restrictions on the enforcement of a loan? Can a loan be disbursed and reimbursed in U.S. dollars?

Cambodian Riels are the official tender in Cambodia and must be accepted, if tendered.  However, the Civil Code specifically provides that the “obligor may make payment in any desired currency”  and that “if the amount of an obligation is established in a foreign currency, the obligor may make payment in Cambodian currency based on the foreign exchange rate at the place where the obligation is performed when it becomes due”. 

49. Is a loan agreement between a foreign lender and a Cambodian borrower subject to any tax in Cambodia?

There is tax on the interest paid by a borrower in respect of a loan between an offshore lender and a Cambodian borrower.  The borrower, as a resident taxpayer, is required to withhold 14% of the interest to be paid to the offshore lender.   

50. How can a loan be secured generally? Can a security interest be registered?

Cambodia law provides a lender with a comprehensive scheme of secured financing.  Generally speaking a loan may be secured using immoveable or moveable property as collateral.  Moveable property generally includes intangible property such as contract rights, insurance proceeds, etc. 

Security interest over immoveable property may be taken by way of hypothec or pledge.  Generally speaking hypothecs are better security devices than pledges.   The Civil Code recognizes two types of hypothecs: hypothecs and revolving hypothecs.  Both types permit a security interest over land and things attached to the land.  Hypothecs may be also be taken over perpetual leases (i.e., a lease with a term of 15 years or longer) and usufructs.  Hypothecs may be perfected by registration with the relevant Cadastral Administration office of the Ministry of Land, Urban Planning and Construction.  

Security interest over moveable property (including intangible property) may be taken under either the Secured Transactions Law or the Civil Code.  General speaking a security interest under the Secured Transactions Law provides more protection to a lender.  Depending on the nature of the collateral, a security interest in moveable property may be perfected by registration at the Secured Transaction Filling Office or by possession or both 

51. How is a security document enforced when the borrower of a loan is in default?

In   case   of   default, and if the defaulting debtor is not cooperative, it will be necessary to resort to Cambodian Courts for enforcement. 

Offshore arbitration decisions should be recognized and enforced by Cambodian Courts.  Cambodian is a signatory to the New York Convention of 1958.  Cambodia has a law specifically implementing the New York Convention of 1958.

Offshore judicial decisions should not, under present law, be regarded as enforceable in Cambodia, in that Cambodia’s Civil Procedure Code requires a guarantee of reciprocity between Cambodia and the foreign country in which the court is based. At present, we are not aware of any treaty or similar agreement dealing with reciprocity. 

Cambodia does have a Law on Insolvency that recognizes the (perfected) priority rights of secured creditors.

Chapter 7: Labor and Immigration

The 1997 Labor Law, as amended in 2007, regulates employment and such matters as benefits and obligations in employment contracts. The law limits the proportion of foreign employees on a payroll but for the most part Cambodian and foreign employees are covered equally. Foreign employees however require visas and work permits.

Supplemented to the Labor Law are the Civil Code (passed in 2007 and implemented in 2011), the Law on Social Security Schemes for Persons Defined by the Provisions of the Labour Law (2002) (“Social Security Law”), and other labor-related regulations issued by the Cambodian government, mainly the Ministry in charge of Labor (currently the Ministry of Labor and Vocational Training).

52. Must investors hire nationals? Is there a minimum number or percentage of nationals? A maximum number of foreign employees?

The law requires employers to give priority to hiring Cambodians. In general, 90% of a staff must be national. But this is not absolute, and an employer who demonstrates that they need employees with special skills or training not readily available can apply to the Ministry to increase the number of foreigners on staff.

53. Are foreign employees required to have licenses or work permits? How hard is it to get entry permits or visas for them? How long are they allowed to stay and work in Cambodia?

Foreigners need to have a valid visa, a work permit, an employment card, and a residency permit to work lawfully. Work permits and employment cards, obtained at the Ministry of Labor and Vocational Training, are valid for one year.  It is also not difficult to obtain visas, and investors and foreign staff may apply for business visas. The initial business visa is valid only for a short period of time but can subsequently be renewed for up to one year at a time.

54. Is adequate labor available, both skilled and unskilled? Are investors legally required to train employees?

Cambodia has a sizable young labor sector consisting of skilled and unskilled workers.

More Cambodians, particularly the young, are studying English, Japanese, Korean, Chinese and other foreign languages, and many are learning to use computers in order to improve their chances of getting employed.

There is no compulsory employee training obligation, but foreign companies often find that formal and on-the-job training of local staff is necessary for their specific needs.

55. What  types  of  employment  contracts  and  agreements exist in law? Which are the most beneficial to foreign investors?

The Labor Law outlines 2 types of employment contracts - the specific duration and the unspecified duration. A specific duration contract must be in writing and has a maximum term of 2 years. The 2 types of contracts have different rules pertaining to termination, benefits and obligations.

Each of the 2 types has its own advantages depending on the circumstance and the needs of the hiring entity. A fixed duration contract is usually fit for a short term project, whereas an undetermined duration contract would be more appropriate for long-term employment.

A well-executed labor contract will help minimize the risks of misunderstanding, misstatement and cross-expectation of the contract terms. It will also help bring a healthy and happy employment relationship and, more importantly, prevent disputes and save cost, time, and reputation.

56. What benefits is an employer required to provide employees?

A number of benefits are required by law, but some requirements are not well-defined and employers meet them in various ways. For example, the Labor Law requires employers to provide primary health care. Some employers offer group health insurance, some self-insure, some have trained medical care providers on staff.

Other requirements: a 48-hour (6 day) work week, with annual leave of 18 days, days off for public holidays and days off for special events such as weddings, child delivery and illness of a child or parent (deductible from annual leave).

57. Is there a minimum wage?

Minimum wage has only been set for workers employed in the garment and footwear sector. The current monthly minimum wage for them is US$100 (effective from 01 February 2014). There are no minimum wages determined for other sectors, but the above rate has also been applied generally in the manufacturing industry.

As yet, there is no minimum wage for the private sector as a whole, but generally employees are paid according to their professional worth.

58. Is there a social security requirement that employers must contribute to?

Employers hiring at least eight employees are required to register their organization together with their employees and pay contribution to the National Social Security Fund (NSSF).. The Social Security Law mentions health care, pension, and other schemes; however, at present only the occupational risk scheme has been implemented. The current contribution rate for occupational risk insurance is 0.8% of the monthly average wage.

59. What rules must be followed in hiring or firing employees? What obligations, if any, does an employer have to a dismissed employee?

The Labor Law forbids discrimination in hiring, paying, promoting, assigning, training and firing employees for a variety of reasons, including race, sex, religion and political opinion (but not age or professional qualifications). Employers cannot hire people to work off debts or require a payment or bond as a condition of hiring. Probationary periods are permitted and vary for different jobs.

The law has several specific provisions covering termination.  An employer must have a valid reason, based on “requirements of the operation of the enterprise, establishment or group,” on “the worker’s attitude or behavior,” on serious misconduct or on an event of force majeure (or act of God).

A terminated employee is entitled to benefits under the law, including payment for untaken annual leave and severance pay under some circumstances.  Termination payouts are different for specified and unspecified duration contracts.

60. Are companies required to recognize and allow unions? Are there mandatory collective bargaining agreements?

Companies are required to recognize and allow registered unions. Collective bargaining agreements are voluntary.

The Labor Law also requires elections of shop stewards as employee representatives within the enterprise. The number of shop stewards varies in proportion to the total number of workers.

Chapter 8: Dispute Resolution

The Constitution provides that the courts are independent. The courts consist of municipal and provincial courts of the first instance, an Appeal Court, and a Supreme Court.

61. Can a foreign investor file suit in Cambodia courts?

Foreigners may file a case in a Cambodian court.

62. Do the courts recognize decisions of foreign courts?

The new civil procedure code allows for this although it would require a bilateral agreement with the foreign country and currently no such bilateral agreements are in place. As such, courts in Cambodia would likely retry a case on its merits rather than enforce a foreign judgment.

63. Are commercial cases heard by the same courts that hear other civil and criminal matters?

The courts currently are not separated as in most civil law countries. As such, a commercial dispute would be heard in the court of the first instance or municipal court, which also tries criminal cases. Cambodia has passed a law to set up a commercial court, but its establishment will take time as the government trains judges and court personnel.

64. Are there records of previous decisions of the court and are they binding?

Precedent  plays  little  role  in  the  decisions  of  the  courts  in Cambodia, which is a civil law country, and the judgments and reasoning in one case would only be instructive or guiding for a judge hearing similar cases. There is some case law available at this time from the Constitutional Council which is empowered by the Constitution to find if a law is constitutional, and also from Supreme Court.

65. What alternative ways are there to resolve disputes? Does Cambodia have a viable arbitration system?

The 2006 Law on Commercial Arbitration is modeled after UNCITRAL. However, the idea of arbitration is new to Cambodia and there has been very little use of this method. This is to be a National Arbitration Center, which will arbitrate commercial disputes and will allow for international arbitrators, however, it is not fully operational.  Investors are free to arbitrate outside of Cambodia.

66. Does the country follow international agreements on recognition of foreign arbitral awards?

At law, foreign arbitration is valid and binding under the laws of Cambodia. Cambodia is a signatory to the United Nations Convention of Recognition and Enforcement of Foreign Arbitral Awards and has implemented this law. The courts have been faced with the issue of enforcement and have upheld a foreign arbitral award.  

Chapter 9: Taxes

Foreign investors in Cambodia must pay taxes on income earned in the country, including profits. Cambodian residents including foreigners present in the country 183 days or more a year and companies organized, managed or having their principal place of business in-country must pay taxes on income and profits earned worldwide. Residents earning foreign-sourced income are entitled to receive credit for foreign taxes paid. There is at the moment no capital gains tax. Investors generally come under the real regime taxation system. Real regime taxpayers include most large, incorporated taxpayers and all commercial enterprises, except sole proprietorships.

67. As a foreign investor, what taxes will I have to pay on my business?

Most foreign investments and foreign investors will be affected by the Tax on

Profit, the Minimum Tax, the Value Added Tax, various withholding taxes, Customs duties and the Salary Tax on Cambodian and foreign employees.

Other taxes that can affect foreign investors include a Specific Tax on certain Merchandise and Service and other minor taxes. According to the Law on Taxation, companies must register with the Tax Department of the Ministry of Economy and Finance within 14 days of company creation.

68. What kinds of tax returns must be filed? When are they due?

Every month four separate tax return forms must be filed. Due on the 15th of each month are forms for the Salary Tax, a Return for Withholding Tax, a Return for Prepayment of Tax on Profit, Specific Tax on Certain Merchandise and Services, Tax on Accommodation, Tax for Public Lighting, and other taxes. On the 20th of each month a Return for VAT is due.

The forms must be filed even if returns are nil. There are hefty fines for non-compliance.

The annual Tax on Profit returns must be filed on or before March 30th. That is  3 months after the end of the government’s fiscal year, which spans the calendar year from 1 January to 31 December.  A company with a different fiscal year can obtain special approval to use their fiscal year for Cambodian tax purposes.

An annual Patent Tax return must also be made by all business enterprises on or before March.

69. What taxes will I owe on profits from my investment?

The general rate of the Tax on Profit is 20%, but the Law on Taxation has exceptions and exemptions. An investment company with a tax holiday enjoys a 0% rate. Insurance activities are taxed at a rate of 5% of gross premium income.  Profits of a company investing in oil and gas are taxed at 30%.

Most commercial enterprises are subject to a monthly Prepayment of Tax on Profit at the rate of 1 % of monthly turnover inclusive of all taxes except VAT. The Prepayment can be offset against the annual Tax on Profit liability and the Minimum Tax.

The Minimum Tax is a separate tax calculated at 1% of annual turnover inclusive of all taxes, except VAT. It is payable at the time of the annual liquidation of the Tax on Profit.

70. How are capital gains taxed?

There is no separate capital gains tax in Cambodia. All earned income from capital gains is taxed the same as regular income. Under a new law passed in 2007, capital gains from sales of immovable property by individuals will now be taxable at the rate of 20%. As of the start of 2013, however, this has not yet been implemented by the Government.

71. Does Cambodia have a branch profit tax?

Cambodia does not tax branch profits to be remitted abroad separately from the taxable profit of the company. However, certain payments made by a resident taxpayer to a non-resident taxpayer are subject to a withholding tax of 14%, including payments of interest income, dividends, royalties, rent, other property income, and compensation for management and technical services.

72. Will I be required to pay personal taxes in Cambodia?

If you are a Cambodian resident, your personal income is subject to the Tax on Salary up to 20%. A resident is someone present in the country 183 days a year or more.

73. Will I be required to withhold and pay salary or income taxes for my employees? Does that include foreign employees? What about consultants and   others on contract? What about foreign employees who work for short periods?

Both the employer and the employee are jointly liable for the payment of the Tax on Salary regardless of whether the salary is paid in Cambodia or overseas. However, the employer is the first responsible party. Employers must withhold and pay taxes for both local and foreign employees. If the employer does not pay the Tax on Salary, the employee must pay.

A Withholding Tax on Salary is calculated according to a schedule of earnings which ranges between 0% and 20%. The tax is 0% for those earning less than US$125 per month and 20% if the earnings are more than US$3,125 a month. This tax is applied monthly. There is no annual return.

Consultants and other contract workers (non-employees) also must pay taxes, with rates varying depending on whether they are residents or non-residents and what kind of work they do. A resident contractor doing consulting, management and some other services are taxed at 15%, while non-residents are taxed at 14%. The withholding tax in these instances is considered as the final tax.

Foreign employees who work in Cambodia only for short periods will be taxed as non-resident taxpayers on their Cambodian sourced income at the flat rate of 20 %.

74. Will my business be required to pay value-added tax (VAT)?

Yes, most probably. A 10% VAT is applicable on supplies of most goods and services, with the exception of public postal services, hospital and medical services, public transportation, insurance, certain financial services, importation of certain articles for personal use, recognized non-profit public interest activities, and electricity.

Taxpayers  subject  to  VAT  must  register,  usually  at  the  time  of incorporation, and are thereafter required to file VAT returns and payment of the tax on a monthly basis.

75. What kind of customs duties apply in Cambodia?

Import duties are variable depending on the goods to be imported, but   generally range between 0% and 35%. Taxes on luxury items such as automobiles can be considerably higher. There are exceptions for goods for personal use and goods exempted by international treaties, and for international and local NGOs. There is a duty exemption for equipment, construction and raw materials if the company gains investor status with the CDC.

Export duties are levied on only a limited number of items, such as timber and certain animal products (including most seafood).

76. Does Cambodia have any double taxation treaties?

No, Cambodia does not currently have any double taxation treaty with any country.

77. What accounting requirements are there for foreign businesses?

The Law on Corporate Accounts, Audit and Accounting requires that a company’s accounting records shall be prepared in Khmer and expressed in Riels. Enterprises carrying out business with foreign countries or subsidiaries of foreign companies may be authorized to prepare accounting records in English and in a currency other than Riels in addition to the accounting records in Khmer and Riels. However, the company’s financial statements must be prepared in Khmer and in Riels.

Accounting records, financial statements, ledgers and documentary evidence must be kept for 10 years from the end of the financial year to which the records relate.  Such ledgers include a general journal, accounting ledger and inventory book.

Chapter 10: Intellectual Property

In compliance with WTO requirements Cambodia is moving towards signing on to all international treaties. The process of registering intellectual property rights is very easy with the institution of a new data based system for registering trademarks. Cambodia’s IP laws set out the requirements for registration of marks and patents and these requirements comply with international standards. Cambodia has not signed on the Madrid Protocol and all marks must be registered in Cambodia even if they have been registered internationally.

78. How do I register and protect my trademark, patents, utility model certificates, industrial designs and copyrights in Cambodia?

In Cambodia, there are 3 different ministries in charge of protection of trademarks, patents, utility model certificates, industrial designs, and copyrights. All procedures are clearly set out within the relevant laws. Because Cambodia requires that an agent be registered in the country, a Power of Attorney is required for a local agent to act for a foreign investor in registering. All filings require fees and these are set by the Ministry of Commerce and Ministry of Economy and Finance and are published.

Trademarks are registered with the Intellectual Property Department of the Ministry of Commerce. As in other countries, one must provide specimens of the marks, proof of authorization from the owner of the mark, proof of any international registrations, and a completed application. The Ministry of Commerce complies with the international class system of marks and a mark may be registered in multiple classes.

Patents, utility model certificates, and industrial designs are registered with the Ministry of Industry, Mines and Energy. The procedures and requirements for registration are in conformity with those of other countries as well as with the relevant international instruments and standards.

Copyrights are registered with the Ministry of Culture and Fine Arts,however there is only protection for Cambodians.

79. Can an international registered trademark be recognized in Cambodia? If not, what can be done to get an international trademark recognized and protected in Cambodia?

Cambodia does not recognize international trademark registrations, so a trademark must be registered in Cambodia for protection within the country.

80. What are the benefits of the registration? How long does the protection last? What is required to renew a registration?

A registered trademark is protected for 10 years, renewable. The registered owner must file an “affidavit of use or non-use of the trademark” within one year following the 5th anniversary of the date of registration. If the affidavit isn’t filed, the trademark can be removed from the Registrar.

81. Can a trademark be assigned? What is the procedure?

A trademark can be assigned by submitting an application that must be signed by the assignor and assignee (together with the applicable fee).

82. How effective are the measures that might be taken against infringements?

The Dispute Resolution Unit of the Intellectual Property Department of the Ministry of Commerce handles infringement complaints if the trademark owner requests. The Unit has proven effective to date. A court action would be a last resort.

Chapter 11: Anti-Corruption law

83. Is it legal to make “unofficial” payments to governmental officials?

Until recently, the payment of “unofficial” fees (i.e. meaning that they are not sanctioned by law or receipted) to Government officials for the performance of their routine duties was a long standing and accepted practice in Cambodia.  However, this position changed as a result of the implementation of the Royal Government of Cambodia’s Anti-Corruption Law (ACL).  Amongst other things, the ACL makes the payment of unofficial fees to governmental officials illegal.  It is the policy of this office to strictly comply with the ACL. 

84. When did the ACL come into effect?

The ACL came into legal effect in August 2011.

85. Does the new law only apply to Cambodian nationals?

No, it applies to Cambodian nationals and foreigners alike. 

86. What are the potential penalties applicable under the ACL?

There are a range of penalties under the ACL, the harshest of which include imprisonment, loss of company assets and deportation.

87. Is the ACL the only such law that I should be concerned about?

No. Many countries, such as the USA, the UK, Australia, Japan and South Korea have extra-territorial anti-corruption laws.  We therefore advise all clients not to make any unofficial payments in violation of the ACL as you may be exposed to both local and foreign prosecution.

88. What impact does the ACL have on business?

Strict compliance with the ACL can lead to time delays and increased costs where government processes are involved.  A positive step has been the recent introduction of regulations by a number of Ministries with respect to official fees and service timeframes.

Chapter 12: Impact of Civil Code

89. What is the Civil Code?

The Civil Code is the fundamental law governing legal relations for civil matters in Cambodia.  The Civil Code therefore covers matters such as property rights, legal existence, contracts, torts, family, succession and inheritance.

90. When did the Civil Code become effective?

The Civil Code became legally effective from 21 December 2011.

91. What is the impact of the Civil Code?

The Civil Code  touches on nearly all aspects of personal and business activity, and has changed the previously-understood position with respect to many of the matters listed at Question x above. S&A can assist investors in identifying and understanding the relevant changes to the law.

Useful Contacts

Embassies and Consulates

British Embassy

No. 27-29, St. 75, Daun Penh,
Phnom Penh
Tel: 855-23 427 124
Fax: 855-23 427 125


Embassy of Australia

No. 16B, St. National Assembly,
Phnom Penh
Tel: 855-23 213 470
Fax: 855-23 213 413


Embassy of Brunei Darussalam

No. 237, St. 51,
Phnom Penh
Tel: 855-23 211 457
Fax: 855-23 211 456


Embassy of Bulgaria

No. 227, Preah Norodom Blvd.,
Phnom Penh
Tel: 855-23 217 504
Fax: 855-23 212 792


Embassy of Cuba
No. 96-98, St. 214,
Phnom Penh
Tel: 855-23 213 965
Fax: 855-23 217 428


Embassy of France

No. 1, Preah Monivong Blvd.,
Phnom Penh
Tel: 855-23 430 020
Fax: 855-23 430 037


Embassy of the Republic of Korea

No. 50-52, St. 214,
Phnom Penh
Tel: 855-23 211 900
Fax: 855-23 219 200


Embassy of Germany

No.76-78, St. 214,
Phnom Penh
Tel: 855-23 216 193/381
Fax: 855-23 427 746


Embassy of India

No.5, St. 466,
Phnom Penh
Tel: 855-23 210 912
Fax: 855-23 213 640


Embassy of Japan

No. 194, Preah Norodom Blvd.,
Phnom Penh
Tel: 855-23 217 161
Fax: 855-23 216 162


Embassy of Laos

No.15-17, Mao Tse Tung Blvd.,
Phnom Penh
Tel: 855-23 997 931
Fax: 855-23 720 907


Embassy of Malaysia

No.220-222, Preah Norodom Blvd.,
Phnom Penh
Tel: 855-23 216 176
Fax: 855-23 726 101


Embassy of Pakistan

No.45, St. 310,
Phnom Penh
Tel: 855-23 996 890
Fax: 855-23 992 113


Embassy of Poland

No.767, Preah Monivong Blvd.,
Phnom Penh
Tel: 855-23 217 782
Fax: 855-23 217 781


Embassy of the Republic of Indonesia

No. 1, Street 466, Corner Norodom Blvd.,
Phnom Penh
Tel: 855-23 217 934
Fax: 855-23 217 566


Embassy of China

No.156, Mao Tse Tuong Blvd.,
Phnom Penh
Tel: 855-23 720 920
Fax: 855-23 720 922


Embassy of Myanmar

No.181, Preah Norodom Blvd.,
Phnom Penh
Tel: 855-23 223 761
Fax: 855-23 223 763


Consulate General of Switzerland

No.53D, St. 242,
Phnom Penh
Tel: 855-23 219 045
Fax: 855-23 213 375


Embassy of Philippines

No. 15, St. 422, Tonle Bassac,
Phnom Penh
Tel: 855-23 222 303
Fax: 855-23 215 143


Embassy of the Russian Federation

No. 213, Samdech Sothearos Blvd.,
Phnom Penh
Tel: 855-23 210 931
Fax: 855-23 216 776


Embassy of the Republic of Singapore

No.129, Preah Norodom Blvd.,
Phnom Penh
Tel: 855-23 221 875
Fax: 855-23 210 862


Royal Thai Embassy

No.196, Preah Norodom Blvd.,
Phnom Penh
Tel: 855- 23 726 306
Fax: 855-23 726 303


Consulate of Belgium

Room 781, 7th Floor, Building F,
Phnom Penh Center, Preah Sihanouk Blvd.,
Phnom Penh
Tel: 855-23 214 024
Fax: 855-23 214 024


Delegation of the European Union to Cambodia

No.100A, Preah Norodom Blvd.,
Phnom Penh
Tel: 855-23 216 996
Fax: 855-23 216 997


Embassy of DPR of Korea

No.30, St. Samdech Suramarith (St. 268),
Phnom Penh
Tel: 855-23 217 013
Fax: 855-23 217 013

Embassy of Sweden

No.445, Preah Monivong Blvd.,
Corner of St. 232, 10th Floor,
Phnom Penh
Tel: 855-23 861 700
Fax: 855-23 861 701


Embassy of the Socialist Republic of Vietnam

No. 440, Preah Monivong Blvd., Phnom Penh
Tel: 855-23 726 274
Fax: 855-23 726 495


Embassy of the Sovereign Military Order of Malta

No.10, St. 370,
Phnom Penh
Tel: 855-23 368 184
Fax: 855-23 366 194


Embassy of the United States of America

No.1, St. 96, Wat Phnom,
Phnom Penh
Tel: 855-23 728 000
Fax: 855-23 728 600


Royal Danish Embassy

No.8, St. 352, Phnom Penh
Tel: 855-23 987 629
Fax: 855-23 993 065



Business and Trade Associations

American Cambodian Business Council (AmCham)

No.34, Sothearos Blvd.,
Phnom Penh
Tel: 855-15 333 715
Fax: 855-77 886 699

Australian Business Association of Cambodia (ABAC)

No.20, St. Kramuonsar corner (St. 114),
Phnom Penh
Tel: 855-23 726 900


British Business Association of Cambodia (BBAC)

No.592, 1st Floor,
Phnom Penh Center,
Phnom Penh,
Tel: 855-977 210 103


Cambodia Federation of Employers & Business Association (CAMFEBA)

No.44A, St. 320,
Phnom Penh
Tel: 855-23 222 186
Fax: 855-23 222 185


Chambre de Commerce Franco-Cambodgienne

No.33 E2, Sothearos Blvd.,
Phnom Penh
Tel: 855-23 221 453
Fax: 855-23 221 453


International Business Chamber Cambodia

12th Floor, Phnom Penh Tower,
Preah Monivong Blvd.,
Phnom Penh
Tel: 855-23 964 455


Malaysian Business Council of Cambodia (MBCC)

Ground Floor, Holiday Villa Hotel & Suites,
Preah Monivong Blvd.,
Phnom Penh
Tel: 855-16 836 222
Fax: 855-23 990 999


Cambodian Association for Mining and Exploration Companies

No.24, St. 462,
Phnom Penh
Tel: 855-23 210 225
Fax: 855-23 213 089


Singapore Business Club (Cambodia)

No.129, Preah Norodom Blvd.,
Phnom Penh
Tel: 855-23 360 855
Fax: 855-23 360 850


The Garment Manufacturers Association in Cambodia (GMAC)

No.175, Jawaharlal Nehru (St.215),
Phnom Penh
Tel: 855-23 301 181
Fax: 855-23 882 860


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Sciaroni & Associates is a leading professional and investment advisory firm doing business in Southeast Asia since 1993. Based in Cambodia with legal offices in Laos and Myanmar, we provide experienced advice and business insights to many of the world’s leading companies, governments, economic think tanks, global development funds, international NGOs and the Royal Government of Cambodia in accordance with strict international standards.
© Sciaroni & Associates 2015
Street Address: No. 24, Street 462, Sangkat Tonle BassacKhan Chamkarmon, Phnom Penh, Cambodia
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