The number of Cambodian companies which registered on the government’s new Single Portal online business registration system was 287 by the end of July 2020.
The online portal and digital service registrationservices.gov.kh has only been accessible since June 15th 2020. To date, the average registration process has been 8 working days.
In total, according to the Ministry of Economy and Finance (MEF):
- 287 companies have successfully registered.
- 323 companies are pending approval.
- 929 companies have cleared a preliminary review and are “registered for reservation”, awaiting the final review.
- 144 companies are under preliminary review.
Kong Marry, an adviser to Minister of Economy and Finance told local Cambodian media “The data shows that business people continue to create new businesses. It also shows that the new online registration is smooth and is synchronised well with the General Department of Taxation, Ministry of Commerce and the Ministry of Labour.”
There are currently 6 ministries and government institutions integrated into the business registration system with 6 more plan to be added in the near future.
Other benefits to companies registering in Cambodia, according to the Finance ministry secretary of state are that registration fees under the scheme have been reduced by 50 per cent. Furthermore, registration of tax on the new registration documents was also waived.
You can read on our guide on how the online process works here.