What business should I start in Cambodia?

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. In the World Justice Project’s 2015 Rule of Law Index, Cambodia was ranked 99 out of 102 countries, the lowest in the region.

Is Cambodia a good place to start a business?

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 much does it cost to start a business in Cambodia?

Registering a business in Cambodia costs about US$430. Only three banks in Cambodia are authorised to process the registration fees ‘ ACLEDA Bank, FTB Bank and Canadia Bank -‘ so you’ll need to open an account with one of these banks in order to pay the service fees involved.

Can foreigners 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. … To register a company in Cambodia the name must also be registered with the MoC.

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Can I own 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.

How do I start a business in Cambodia?

The steps to set up a WFOE in Cambodia are as follows:

  1. Deposit the legally required start up capital in a bank, and obtain deposit evidence. …
  2. Conduct initial check to confirm the company name is not already in use. …
  3. Incorporate the company with the Business Registration Department, within the Ministry of Commerce.

Is it safe to do business in Cambodia?

Despite the liberalization of the Kingdom’s economy, there remain signifcant challenges to doing business in Cambodia. Those most commonly cited by the private sector include a weak rule of law, poor infrastructure, high energy costs, red tape and corruption and under- developed human resources.

How many types of business are there in Cambodia?

The Cambodia Ministry of Commerce promulgated the Law on Commercial Enterprises, which defines the different forms of Business Ownership. An online registration platform had also been launched to make it easier for new businesses to register. There are four types of Business Ownership in Cambodia.