setting u business in Cambodia
Posted: Thu Dec 07, 2017 4:57 pm
Hy guys and girls,
I am going to set up a small project in Cambodia and want to register a company.
I have read a lot about it and the registering itself should not be difficult anymore
https://www.businessregistration.moc.go ... /register/
But how about the business setup itself?
On this website
https://www.b2b-cambodia.com/industry-o ... 0aa7e-10a8
The requirements are pointed out, but I can hardly believe they are that strickt.
•A valid visa, work permit and a bank account with a minimum balance of USD$1,000 (4 million riel) – you may withdraw this as soon as the business is officially established.
•A certificate of good health. *must i go to doctor?
•More often than not, a police report from your home country identifying you as a person(s) of good standing with no history of criminal activity.
What taxes do I have to pay and when?
•Within 15 calendar days of registering with the MoC, businesses must register with the General Department of Taxation (DGT) to receive a taxpayer’s identification number (TIN).
•Registering as a taxpayer will cost you $500 and $650, for a half-year and a full-year respectively. *Is this true? I can not imagine that every small company has to pay 650$ Just to register?
•At the GDT, you will obtain the tax patent and the VAT certificate of the new company. If all is in order, it will take the GDT between two and four weeks to issue the tax patent and VAT certificate.
•Various taxes are also payable each month, usually on the 20th. They are the tax on salary; the prepayment of profit tax (equal to 1% of turnover); and VAT (equal to the total VAT charged to your customers minus VAT payable to your suppliers).
Sole Proprietorship or Limited
What company choice? A limited company would be better. I have had a ltd in the UK and this was easy and cheap to create. For Cambodia I have seen rediculous costs for setting up a PLC. How can I easily set up a PLC? Has anyone done this?
Any advise or tips is very welcome!
I am going to set up a small project in Cambodia and want to register a company.
I have read a lot about it and the registering itself should not be difficult anymore
https://www.businessregistration.moc.go ... /register/
But how about the business setup itself?
On this website
https://www.b2b-cambodia.com/industry-o ... 0aa7e-10a8
The requirements are pointed out, but I can hardly believe they are that strickt.
•A valid visa, work permit and a bank account with a minimum balance of USD$1,000 (4 million riel) – you may withdraw this as soon as the business is officially established.
•A certificate of good health. *must i go to doctor?
•More often than not, a police report from your home country identifying you as a person(s) of good standing with no history of criminal activity.
What taxes do I have to pay and when?
•Within 15 calendar days of registering with the MoC, businesses must register with the General Department of Taxation (DGT) to receive a taxpayer’s identification number (TIN).
•Registering as a taxpayer will cost you $500 and $650, for a half-year and a full-year respectively. *Is this true? I can not imagine that every small company has to pay 650$ Just to register?
•At the GDT, you will obtain the tax patent and the VAT certificate of the new company. If all is in order, it will take the GDT between two and four weeks to issue the tax patent and VAT certificate.
•Various taxes are also payable each month, usually on the 20th. They are the tax on salary; the prepayment of profit tax (equal to 1% of turnover); and VAT (equal to the total VAT charged to your customers minus VAT payable to your suppliers).
Sole Proprietorship or Limited
What company choice? A limited company would be better. I have had a ltd in the UK and this was easy and cheap to create. For Cambodia I have seen rediculous costs for setting up a PLC. How can I easily set up a PLC? Has anyone done this?
Any advise or tips is very welcome!
here I try to avoid lawyers and consultants.
