Set-up Your Company in Cambodia
Investing and setting up a business in Cambodia can be difficult with the amount of time required to complete registration of a company in Cambodia and getting a business license approval. NNRoad takes care of the legal formalities required to set up an entity and assist its clients in incorporating the optimal business entity for their business needs.
Business entities you can open in Cambodia
1) Limited Liability Company
You can establish a limited liability company in Cambodia if you have a capital of at least $1,000 (KHR 4 million), two shareholders, and one director who can all be foreigners and do not need to reside in the country.
2) Joint Stock Corporation
This is similar to the limited liability company, with the difference that there is free trade in shares and they can have more than 30 shareholders.
3) Branches and Representative Office
Foreign investors can open branches and rep offices in Cambodia. For branches, the requirement is that the foreign companies have to appoint a representative and the representative office cannot conduct commercial activities.
Our Company Formation Service in Cambodia Includes:
- Confirm the selection of a business entity type.
- Assist with the name or business name of the entity.
- Guiding and preparing legal documents, the Articles of Association, and other incorporating documents if needed.
- Advice on initial capital amount, if applicable.
- Work closely with the Business Registration department in the Ministry of Commerce for submitting the documents and getting approval for Certificate of Incorporation of the Cambodia company.
- Assist in obtaining the company seal, registering the company for VAT with the Tax department.
- Support with Company Secretarial Services.
- Assist with other licenses, if required by Law.
- Bank Account Opening assistance.
PEO/Employer of Record in Cambodia
Hire your employees in Cambodia while NNRoad handles all employer liabilities. No local entity needed.
Cambodia like any other country has its own employment regulations that require close observation in order to ensure full compliance.
NNRoad helps to employ candidates for you without the requirement of a legal entity in Cambodia, ensuring full compliance with the Cambodian employment regulations. We look after all the hiring and administration functions while you can maintain direction over your employees.
NNRoad's Employment Outsourcing in Cambodia Includes:
- Engaging employees through local labor contracts including contract administration, engagement, extension termination, and conversion to a permanent hire.
- On-boarding and off-boarding employees following Cambodian labor law practice.
- Registration of employees with social security board NSSF and with the tax office.
- Complete payroll solution and mandatory benefit administration.
- Employee management according to local laws, including employee record, timekeeping, bonus, and allowance management, expense and claims, and leave employee database management.
- Payment management, including invoicing customers/clients and salary payments.
Depending upon whether you are looking for Cambodian or foreign employees, there are varieties of rules specific to taxation and payroll in Cambodia. Primary concerns that a foreign company needs to comply with are local income tax, social security contributions. Through NNRoad services, you can delegate tedious administrative tasks like tax management, compliance management and thereby focus on your core business activities.
- Registering the necessary company and personnel information for payroll calculation in compliance with local rules.
- Registering all local employees with the social security board.
- Calculation of gross salary, salary deductions, such as social insurances, unpaid leaves, etc., and net salary based on information provided by the Company including irregular payments such as incentive/bonus, allowance, severance, etc. if applicable.
- Calculation and submission to NSSF & Tax office as required.
- New employee registration and Pro-rata calculation for people who join/resign.
- Providing a monthly payroll summary to the Company.
- The monthly issue of electronic pay-slips.
- Prepare annual payroll related reconciliation report.
- Prepare annual individual income tax calculation and contribution as required.
Proper accounts need to be maintained for businesses and companies in Cambodia in order to comply with local legislation such as TAX, VAT Return, and Withholding Tax. Maintaining updated financial records for all the business transactions is of prime importance.
NNRoad offers professional Accounting / Bookkeeping services with dedicated staff to look after bookkeeping requirements such as full set accounts, accounts receivables, accounts payable, bank reconciliations and etc.
- Entering bookkeeping data records into accounting software.
- Sorting and matching transaction documents against bank statements/ preparation of bank reconciliation.
- Preparation of accounting reports.
- Preparation of year-to-date balance sheet.
- Monthly and Annual Tax Declaration.
- Consolidation accounting and preparation of group financial statements.