The Cambodian National Information Technology (IT) Business Registration Platform is set to launch in June 2020 according to the Ministry of Economy and Finance.
Online Business Registration in Cambodia
The Khmer Times reports that the new platform “will facilitate and encourage business registration for all companies, especially to support the companies that aim to register and to access credit from the government’s special fund.”
The Cambodian National Information Technology (IT) Business Registration Platform will combine the Ministry of Commerce, Ministry of Labour and Vocational Training, and the General Department of Taxation (GDT) said the report.
In 2019, of the 510,000 firms that were registered in Cambodia, more than 90 per cent of them were SMEs.
Kong Marry, an adviser to Deputy Prime Minister and Minister of Economy and Finance and Chairman of Techo Startup Center (TSC) said “With this online business registration platform, the businesses or SMEs [small and medium enterprises] can also access the government special fund with a low-interest rate. We launched this platform to help the SMEs which do not have the formal documents, so they can register and receive the licence within eight days, then they can request a loan from the banks.”
In addition, Mr. Marry added that:
- The online business registration platform will allow for an online platform registration which can be linked to relevant government’s entities as well as the Cambodian General Department Taxation.
- Online Platform will feature an electronic payment system.
- All the data will link to each relevant Cambodian government department and ministry automatically.
- Within 8 working days, if there are no issues with the application, applicants will be notified about the success of their business registration in Cambodia.
- The government has also reduced the business registration cost by 50% and the patent from the General Department of Taxation is reduced by 50%.
Currently, business registrations in Cambodia need to be conducted separately and at different locations for the separate Cambodian ministries; Ministry of Commerce, General Department of Taxation, Ministry of Labour and Vocational Training and other relevant ministries.
Chhea Layhy, director of the SMEs Department of Ministry Industry, Science, Technology and Innovation (formerly the Ministry of Industry and Handicrafts) said the platform will be announced when it is ready and guidance sessions for SMEs or business owners will be conducted.
Cambodian online platforms
Over recent years, the Cambodian Government Ministries have escalated the number of online platforms to make the process of doing business in the Kingdom easier.
Other Cambodian online platforms include:
- The Ngeay Ngeay (“Easy Easy”) Business Information Platform was officially launched in 2017. Read more here.
- General Department of Taxation (GDT) launched its online platform in 2017 launched an e-payment platform that allows individual and corporate taxpayers to pay their obligations online in Cambodia.
- Online trademark registration gateway to register trademarks in Cambodia was launched in 2017 by the Ministry of Commerce.
- The FPCS is an app being implemented in 2020 to register foreigners in Cambodia, which the landlords are responsible for completing.