Many business owners find business registration with the Ministry of Commerce complex even if it is available on online. However, it would not be that complicated if you have the knowhow. Today, I am going to share with you 10 things you need to know before starting to process your new company registration with the Ministry of Commerce.
Let’s say that you are planning to incorporate a new private or public limited company. The following are the required documents and information you need to prepare:
Let’s say that you are planning to incorporate a new private or public limited company. The following are the required documents and information you need to prepare:
1. Company name:
Consider and decide upon three potential unique company names. If one name is already taken by someone else, you can register under another one that is available and unique for your business. For example, ABC Co., Ltd for a private limited company and ABC., Plc for a public limited company. You can also book that available name in case you are not ready to register your business right away. Your company name booking lasts for a period of 3 months.
2. Company activities:
You need to consider what will be your main business activities. You can include more than one activity when you register. There is a list of company activities and codes that you may select. You should list the primary activity first and the less important ones afterwards.
3. Investment capital:
You need to consider how much will be your maximum investment. The amount of investment is the maximum amount for which the company will be liable in the case of loss or bankruptcy in the future. The company is not required to deposit this investment amount in the bank.
4. Articles of Incorporation/Memorandum of Association:
This aspect is very critical. Most business owners do not know how to develop this properly. It is the by-law which describes the company as the whole, e.g. nature of the business, management structure, roles and responsibilities, shares, and liabilities, etc.
5. ID Card/Passport:
If you are a Cambodian, you need a copy of a validated Identification Card with your signature. If you are a foreigner, you need a copy of a validated passport with your signature. If you have more than one shareholder, each one needs to provide the same supporting document.
6. Photograph:
Two copies of a current passport photo. This applies to all shareholders. The photo must be signed at the back by the photo owner.
7. Permanent residential address in home country:
Your permanent residential address in Cambodia if you are a Cambodian. Your permanent residential address in your home country if you are a foreigner. It applies to all shareholders.
8. Current residential address in Cambodia:
This aspect is only required for the chairman or the shareholder who represents the company. If you are a Cambodian, you may refer to your ID card or Residency Record Book. If you are a foreigner, you will need a residency address in Cambodia and you will need to apply for a Residency Permit from your local Sangkhat office.
9. Business address and rental contract:
The business address needs to be exactly the same as the address stated on the property tax receipt. I advise you to double check with the landlord in advance of using/renting a certain address to register your company. You cannot register your business using an address where the landlord does not pay annual property tax.
An original of the office rental contract is required. You may consider renting a virtual business address if you want to save costs or if are not ready to employ staff immediately after your company is registered.
10. Application:
Last but not least, you will need to fill out the application for company registration. The application form is downloadable on the website of the Ministry of Commerce or you can also choose to fill it out online.
Should you have any questions concerning the registrations above, please feel free to contact Kimsophat KONG, founder and CEO of Making It Easy by info@makingiteasycambodia.com | +85512914201. He will get back to you within 24 hours during working days. To inquire a business registration service through Making It Easy, please kindly response to our Business Startup and Registrations Assessment here.
Consider and decide upon three potential unique company names. If one name is already taken by someone else, you can register under another one that is available and unique for your business. For example, ABC Co., Ltd for a private limited company and ABC., Plc for a public limited company. You can also book that available name in case you are not ready to register your business right away. Your company name booking lasts for a period of 3 months.
2. Company activities:
You need to consider what will be your main business activities. You can include more than one activity when you register. There is a list of company activities and codes that you may select. You should list the primary activity first and the less important ones afterwards.
3. Investment capital:
You need to consider how much will be your maximum investment. The amount of investment is the maximum amount for which the company will be liable in the case of loss or bankruptcy in the future. The company is not required to deposit this investment amount in the bank.
4. Articles of Incorporation/Memorandum of Association:
This aspect is very critical. Most business owners do not know how to develop this properly. It is the by-law which describes the company as the whole, e.g. nature of the business, management structure, roles and responsibilities, shares, and liabilities, etc.
5. ID Card/Passport:
If you are a Cambodian, you need a copy of a validated Identification Card with your signature. If you are a foreigner, you need a copy of a validated passport with your signature. If you have more than one shareholder, each one needs to provide the same supporting document.
6. Photograph:
Two copies of a current passport photo. This applies to all shareholders. The photo must be signed at the back by the photo owner.
7. Permanent residential address in home country:
Your permanent residential address in Cambodia if you are a Cambodian. Your permanent residential address in your home country if you are a foreigner. It applies to all shareholders.
8. Current residential address in Cambodia:
This aspect is only required for the chairman or the shareholder who represents the company. If you are a Cambodian, you may refer to your ID card or Residency Record Book. If you are a foreigner, you will need a residency address in Cambodia and you will need to apply for a Residency Permit from your local Sangkhat office.
9. Business address and rental contract:
The business address needs to be exactly the same as the address stated on the property tax receipt. I advise you to double check with the landlord in advance of using/renting a certain address to register your company. You cannot register your business using an address where the landlord does not pay annual property tax.
An original of the office rental contract is required. You may consider renting a virtual business address if you want to save costs or if are not ready to employ staff immediately after your company is registered.
10. Application:
Last but not least, you will need to fill out the application for company registration. The application form is downloadable on the website of the Ministry of Commerce or you can also choose to fill it out online.
Should you have any questions concerning the registrations above, please feel free to contact Kimsophat KONG, founder and CEO of Making It Easy by info@makingiteasycambodia.com | +85512914201. He will get back to you within 24 hours during working days. To inquire a business registration service through Making It Easy, please kindly response to our Business Startup and Registrations Assessment here.
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