Starting a small (food related) Business.
Starting a small (food related) Business.
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
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.
However, it does state the following.
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
- Has a total turnover
exceeding 60 million riels
(approx. USD15,000) for
any three consecutive
calendar months, or
- Is expected to have a total
turnover for the next three
consecutive calendar
months exceeding 60
million riels (approx. USD
15,000), or
- Engages in bidding,
price consulting or price
surveying in the supply
of goods or services.
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.
- Jerry Atrick
- Expatriate
- Posts: 5447
- Joined: Sat May 17, 2014 4:19 pm
- Reputation: 3057
Re: Starting a small (food related) Business.
^
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
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
Re: Starting a small (food related) Business.
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.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
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....
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