When setting up a business in Cambodia, it is your responsibility to have all the correct licences and permits from the relevant ministries.
For example, if you want to set up a restaurant business then you will first need register the business then apply for a tourism licence, a permit/letter from Ministry of Health, a permit/letter from the Fire department plus maybe other licences which are relevant to your business. The cost of these licences depend on how big the business. There are many types of licences and permits, so finding out the thing you need is important before starting your business.
Businesses which are in the agricultural sector want particular licences and permits, and these licences/permits can cost you thousands to obtain.
Import and export licences are specially needed for bigger businesses, and combined with the licences you will require particular permits in some instances. For instance, importing and exporting medications/drugs need a special licence from the ministry of health insurance and it could be very challenging to acquire and almost difficult as a foreigner.
Importing and exporting garments want a particular permit known as the “Certificate of Origin” before you export. Importing and exporting jewelry and silver need unique permit letters.
Basically, right now there are a huge selection of various types of letters and permits necessary for all the various types of businesses
To prevent the trouble with officials and get everything done correctly, we proclaiming to offer you our understand how and set up the business for you personally from A to Z and you will focus on your own .
The next entity’s can be found.
A lot of people opening smaller businesses will decide for the cheaper option which may be the “Single Proprietorship” registration. A single proprietorship is possessed and managed by an individual and he/she is likely for everything the business enterprise will but he/she can be entitled to most of its profits.
Private Limited Company
An exclusive limited company (PLC) is a legal entity which is distinct from its shareholders. It essentially means if the PLC ever endured any issues with company financial obligations then your shareholders aren’t legally responsible for them. A PLC can possess between two and thirty shareholders of the business.
Single Member Company
An individual member company is an exclusive limited company nonetheless it only has one shareholder. And, as the solitary member company can be a PLC after that it gets the same advantages as the standard private limed business.
General partnerships are whereby a number of individuals want to conduct business together. To create an over-all partnership then agreement is drawn up between the partners. All partners in a general partnership are liable for any debts incurred by the business.
Limited partnerships are for whereby you have one or more general partners and then one partner who is classed as a limited partner who is often the main investor in the business. This is where the limited partner is not liable for any debts incurred by the business but the general partners would be.