Guide to Doing Business in Cambodia (2023)

1. INTRODUCTION

The Kingdom of Cambodia sits at the heart of Southeast Asia, a rapidly expanding region in the world economy, and is undergoing an economic renaissance. Cambodia’s 1999 membership to the Association of Southeast Asian Nations (ASEAN) and 2004 accession to the World Trade Organization (WTO) opened the country up to the global marketplace, and the country has grown at an astounding average rate of 6.8% per year since that time, making it one of the fastest growing economies in the world. ASEAN membership continues to bring additional opportunities for investment and the numerous trade agreements including with the EU, Japan and China, along with the recently concluded Regional Comprehensive Economic Partnership (RCEP), have established a strategic trading network with Cambodia firmly rooted as a hub.

Cambodia’s government actively courts foreign investment, offering numerous incentives and tax considerations to qualifying investors. Cambodia boasts a generally solid legal infrastructure that provides a relatively business-friendly regulatory environment. While Cambodia is not without the problems common in many developing countries, its consistent economic growth and strategic positioning make it attractive as a potential destination for international investors. Tourism, construction, agricultural products, garment manufacturing, and the developing financial sector are all vibrant contributors to Cambodia’s economic expansion, and the government has an eye toward transitioning to a higher technology economy suitable for its predominantly youthful population in its next stage of growth.

The aim of this guide is to give investors insight into conducting business in Cambodia. The guide focuses on the laws and regulations surrounding commercial law, intellectual property rights, real property, taxation, and key economic sectors including energy, mining and telecommunications. Moreover, because business does not take place in a vacuum, we also include a section on personal and family law.

BNG Legal is a leading regional law firm with offices in Cambodia and Myanmar providing comprehensive legal services to foreign and local clients. As a full-service commercial law firm, BNG Legal has assisted foreign investors with their legal needs in Cambodia for more than twenty years and extends that tradition of quality legal service to Myanmar. Our legal professionals combine international standards with local knowledge providing our clients with effective advice and representation. We have developed significant expertise in market entry, mergers and acquisitions, tax, licensing, real property, and labor matters.

Conducting daily business in Cambodia and Myanmar, BNG Legal keeps pace with the latest procedures and requirements in often rapidly developing legal and regulatory environments, helping clients efficiently and successfully complete any project. If you would like more information regarding any of the matters discussed in this guide, please don’t hesitate to contact BNG Legal Cambodia at [email protected] or visit our website at www.bnglegal.com.

Guide to Doing Business in Cambodia (2023)