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What is the best business to start in Cambodia?

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What is the best business to start in Cambodia?

Doing business in Cambodia – Market opportunity

  • Tourism infrastructure and resorts.
  • Education services.
  • Architecture, construction, and engineering services.
  • Household goods and appliances.
  • Agribusiness and food processing.
  • Used cars and automotive parts.
  • Power generation equipment.
  • Fast food and beverage franchises.

What is the most important business for Cambodia?

Agriculture remains the dominant economic sector, with strong growth in textiles, construction, garments and tourism leading to increased foreign investment and international trade.

How can I start a small business in Cambodia?

How can you own a Business in Cambodia?

  1. Step 1 – Secure a Business Location.
  2. Step 2 – Get a Lease or Sell Purchase Agreement on your office or business location of your choice.
  3. Step 3 – Open a Cambodian Bank Account.
  4. Step 4 – Find a Lawyer or Accountant to secure the Ministry documents.
  5. Step 5 – Hire your staff.

Is Cambodia a good place to start a business?

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Out of 183 economies, the World Bank has ranked Cambodia 171st in terms of ease of setting up a new business. Cambodia saddles would-be entrepreneurs with a plethora of procedures to follow, and the average number of days it takes to register a business clocks in at 85–much more than in neighboring countries.

How can a foreigner start a business in Cambodia?

Starting a business in Cambodia is a fairly straightforward procedure. To do business legally, you must first register with MoC business registration. Now, the service is done online. You can start reserving a name before registering your business or start registering your business right away.

What are business opportunities in Cambodia?

Cambodia offers potential business opportunities in agribusiness and food processing; tourism infrastructure and resorts; education; architecture, construction, and engineering services; household goods and appliances; used cars and automotive parts; power generation equipment and power transmission infrastructure; …

How many types of business are there in Cambodia?

There are three types of foreign business entities in Cambodia: Representative office. Branch office. Subsidiary.

How many small businesses are there in Cambodia?

According to the survey, there were 512,871 enterprises establishment in Cambodia. Among them, 501,612 were micro enterprises, and 11,259 were small and medium enterprises combined. MSMEs take the majority share (99.8\%) of enterprises in the country.

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How much does it cost to start a business in Cambodia?

Cambodia LLC incorporation costs amount to US$7,960 and total setup costs amounts to US$16,135 on average per engagement, including Cambodia company incorporation, capital and corporate bank accounts setup, legal registered office and all government registration fees.

Can a foreigner start a business in Cambodia?

There are no restrictions to a business being 100 percent foreign owned. This is not to be confused with Cambodian land ownership, in which a foreigner can generally own a maximum of 49 percent.

How much does it cost to register a business in Cambodia?

Pricing scheme The cost of business registration varies based on the type of enterprise and its taxpayer classification by the General Department of Taxation. Foreign companies will first need to reserve a company name at a cost of 25,000 riels (US$6). The business registration fee will cost 1 million riels (US$246).

How much does it cost to set up a business in Cambodia?

Fees

Different Cambodia entity types Cost Draft invoice
Joint Venture US$23,285 View invoice PDF
PLC US$15,185 View invoice PDF
Branch of a foreign company US$16,685 View invoice PDF
Representative Office US$16,685 View invoice PDF

What kind of business can foreigners start in Cambodia?

Traditionally, most foreigners coming to the country start Cambodian businesses in the tourism industry. This means bars, restaurants, guesthouses or tour companies. Many from other areas of Asia also find success expanding their existing operations in manufacturing or production.

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Is Cambodia pro-business or anti-business?

Despite all of this, the Cambodian government is very pro-business, and allows 100-percent foreign-owned companies, unlike some of their neighbors. Many businesses fly under the radar of the authorities, and others choose to take over from existing businesses that have already completed the required paperwork.

Refer to the government’s guide to registering a Cambodia business for more details. When the MoC process is complete you will only have two weeks to register as a taxpayer with the GDT. There you can either register for six months or one year as a taxpayer. The fee is $500 or $650, respectively.

Which international brands are opening stores in Cambodia?

A number of international brands have entered the Cambodian market, including; Burger King, Carl’s Jr., Circle K, Cold Stone Creamery, Domino’s Pizza, Krispy Kreme, L’Occitane, Levi’s, Lotteria, Pandora, and Starbucks, and more. In 2016, electronics and gadgets seller, T-Shop, became the first Cambodian business to offer franchise options.

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