Starting a small (food related) Business.

Whether you're a working stiff or a business owner yourself, this is the place to discuss all aspects of financing your drinking habit ;-)

NO BUSINESS SALES HERE PLEASE, WE HAVE A SECTION FOR THAT IN THE CLASSIFIEDS.
Equinix
Expatriate
Posts: 423
Joined: Sat May 24, 2014 3:20 pm
Reputation: 224

Starting a small (food related) Business.

Post by Equinix »

I tried to find updated information about registering a business and get all the documents in order.
I couldn't find an up to date thread on this, hence I'm starting this one =)

I'm looking into starting a food related online business.

After contacting some of my Khmer friends that are used to the "old system"
and told me it will cost $1700+ for registration and patents, I found the online portal from the government.
Apparently it will cost

$51,25 (Reservation of a company name + Business Registration)
$55 (Tax Registration + Patent tax)
$30 (Notice for enterprise Opening)
----------
$136.25 Total (They give 50% discount for the first year, the price will be double the listed price for the next years)


I've got a few questions (Bold text) of which I couldn't find answers on the government website(s).

Do I fall under Small Taxpayer?

I intend to register the business as a Sole proprietorship.
In the PDF User Guide English, under classification of Taxpayers (page 9), it says.

Small Taxpayer
  • Has an annual turnover
    ranging from 250 million
    riels (approx. USD62,500)
    to 700 million riels
    (approx. USD175,000), or
I don't expect to have an annual revenue over $62,500 up-to $175,000
  • Has a total turnover
    exceeding 60 million riels
    (approx. USD15,000) for
    any three consecutive
    calendar months, or
I don't expect the revenue of three consecutive months to go over $15,000
  • Is expected to have a total
    turnover for the next three
    consecutive calendar
    months exceeding 60
    million riels (approx. USD
    15,000), or
I don't expect the revenue of three consecutive months to go over $15,000
  • Engages in bidding,
    price consulting or price
    surveying in the supply
    of goods or services.
I would imagine I fall under this part, as there are no other option other than "Small, Medium and Large taxpayer.
What does this part mean ? Negotiating with suppliers about the price of their products ??


-------
After registering this new business, I would also like to get certification of my products through the
Institute of Standards of Cambodia

Does anyone here have any experience dealing with the certification of a product ?

-------
I've also looked into getting an E-commerce license after seeing this being mentioned on facebook last week, but apparently you don't need one if you fall under.
A persons selling goods or services with an annual turnover of less than that of a small taxpayer (being USD 62,500) Source

However, it does state the following.
Nevertheless, the above exempt persons must notify the Ministry of Commerce about their electronic commerce for the purposes of data collection and consumer protection.
User avatar
Jerry Atrick
Expatriate
Posts: 5447
Joined: Sat May 17, 2014 4:19 pm
Reputation: 3057
Central African Republic

Re: Starting a small (food related) Business.

Post by Jerry Atrick »

^

I would start the business first, and if successful carry out the registration as you outlined above after a few months.

If not, no need to waste time and money dealing with red tape

At the moment, you are not yet a small taxpayer, but looks like that's the bracket you should aim for if you insist on paying tax
Equinix
Expatriate
Posts: 423
Joined: Sat May 24, 2014 3:20 pm
Reputation: 224

Re: Starting a small (food related) Business.

Post by Equinix »

Jerry Atrick wrote:^

I would start the business first, and if successful carry out the registration as you outlined above after a few months.

If not, no need to waste time and money dealing with red tape

At the moment, you are not yet a small taxpayer, but looks like that's the bracket you should aim for if you insist on paying tax
Sure that has crossed my mind, got a few issues though. I'm currently one of the lucky ones that's exempt of paying to stay in Cambodia (tourist visa) and want to change this in the near future as to be ahead of the possible mandatory vaccination to obtain a business visa.

From what I understand to obtain a business visa + a one year extension I would need to work for a company (or start my own)

The other issue I see as a possibility, is that a competitor complains about my business and product (a product without a a certificate from the Institute of Standards) and I end up getting fined and or deported....
Post Reply Previous topicNext topic
  • Similar Topics
    Replies
    Views
    Last post

Who is online

Users browsing this forum: No registered users and 160 guests