So, in 3 weeks I am in Siem Reap starting my business. After 2 years of preparations and lots of help from you forum members we will take off with our publishing house.

I have already a lot of info on most things and most of it is clear. I also have lots of info about the company setup about PLC and Sole Pr. even a great construction via Hong Kong (Thanks Jack R .) Due due to tax regulations here in Belgium, I deceided to pay normal taxes here in Cambodia. Any tax avoiding construction will lead to massive problems with the tax office here in Belgium.

I got a lot of conflicting advise about the company formation. PLC or Sole Proprietor. Some advise PLC and some Sole Pr. and upgrade later to PLC when successfull.
At this moment I tend to SP because it is much cheaper and I have already enought investsments to do. But have not decited yet.

So I want your last advise and thoughts about this. Some agents offer to set up PLC for prices ranging from 1500 to 4000 .
SP costs a lot less. Can also be done by ourselves (means together with my Khmer manager). Is it easy? Without lots of problems? Or is it better to let an agent handle this? I would like to work in Siem Reap with a reliable, but not very expensive accountent. Any recommandations?

What kind of accounting would you set up? I am thinking of a simple online accounting software like wave, It that enough for Cambodia?

I will have a office in Siem Reap and some staff. Turnover 1500-8000$ per month (depending on season and success).

Thanks again for your input!!!

Interesting.

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Although "interesting" and rated possivi. No reactions till now.

Anyone who registered a sole prorietor him/ herself?

What kind of bookkeeping do you use?

Thx

excel

bolueeleh wrote: ↑Tue Aug 21, 2018 4:09 pmexcel

That is enough for tax office? Do they accept that?

james1234 wrote: ↑Tue Aug 21, 2018 4:15 pm

bolueeleh wrote: ↑Tue Aug 21, 2018 4:09 pmexcel

That is enough for tax office? Do they accept that?

they hv their own forms for u to fill up every month, quarterly, annually, depends on ur biz type

james1234 wrote: ↑Tue Aug 21, 2018 4:15 pm

bolueeleh wrote: ↑Tue Aug 21, 2018 4:09 pmexcel

That is enough for tax office? Do they accept that?

It is probably enough but unless you are pretty good with excel I would buy an accounting software (or Wave but its not the best for depreciation, Khmer invoicing, tax calcs etc).

If you only have a few invoices a month they can be done manually on excel but if any more I would get some software

Xero is the best. Or give quickbooks a go as it can also do Khmer invoicing (through workarounds) which is a legal requirement.

I wouldn't recommend Excel as there is more that can go wrong.

If you are going to have a lot of input VAT I would register as a company (Ltd not PLC). If not making much money though it is OK to be SP for now

Don't bother paying an agent to set up your company for you or even registering you for the patent tax if you are just doing it as a sole proprietor. Just do the business registration through the government website and go to the tax office in person for the tax registration. I imagine you'll need some sort of a publishing license as well and that might be a little more complicated and worth speaking to an agent about. I was quoted around $200 to have an agent do a guesthouse license for me.
Business registration site can be found here - https://www.businessregistration.moc.gov.kh/
Tax department building is located on main road 6 on the way to the airport here in Siem Reap.

Hit me up if you have any questions.

@elguapo Yjx! Are you based in Siem reap?

@cautious colin Thx! I send you a PM.

Yes I need a licence from ministery of information. We are trying to get that info now. My Khmer manager is also collecting all info. She already went to the tax office. They asked 2,50 for information appointment

james1234 wrote: ↑Wed Aug 22, 2018 1:45 am @elguapo Yjx! Are you based in Siem reap?

Yes I need a licence from ministery of information. We are trying to get that info now. My Khmer manager is also collecting all info. She already went to the tax office. They asked 2,50 for information appointment

Yes, I am based here in Siem Reap.

That quite surprising that they are trying to charge you for an information session. I was just in there a couple days ago and the lady just went over a list of all the paperwork I needed to bring in in order to register. I was told by one of the local business consultancy ladies that they will go over any taxes I need to pay and when they'll be due once Im registered.