The Cambodian government introduced the latest online business registration system, known as the Single Portal, on June 15, 2020, intending to approve applications in eight working days. The system is made up of six ministries: The Ministry of Interior, the Ministry of Economy and Finance, the Ministry of Commerce, Labor and Vocational Training, the General Department of Taxation, and the Cambodian Development Council. As a result, investors may register their businesses and pay their taxes through a single portal. In addition, all fees are paid online via various e-payment systems. Click here to Register Business Online in Cambodia
1. Create New Account
Visitors should open the ‘Register Business’ icon after visiting the Sigle Portal website, which will direct them to download the CamDigiKey app for Android or iOS. Visitors should download the app and create an account on their mobile devices. After this has been accepted, the user can use the CamDigiKey app to scan the QR code on the Single Portal website and begin registering their business.
2. Tax Registration
Once the business is registered, the applicant should then fill out the tax registration section. Foreign companies will be required to upload the following documents: Property information of where the business is domiciled or proof of payment of property tax; and Bank account details (this information must be given in digital form within 15 working days after tax registration.
Payment can be made using debit/credit cards or using the ABA Bank app at the last stage. The cost of registering a business varies depending on the type of business and the taxpayer classification assigned by the General Department of Taxation. For a fee of 25,000 riels (US$6), foreign enterprises must first reserve a company name. The cost of registering a firm will be 1 million riels (US$246).
These are the process of registering business online in Cambodia that investors should aware of to ease every up and avoid bankruptcy encounters. We hope that this article will help investors who intend to invest in Cambodia.
Click here to Register Business Online in Cambodia