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    Home»Business»Real Estate»Invest in Real Estate Cambodia

    Invest in Real Estate Cambodia

    SabithBy SabithOctober 26, 2021No Comments6 Mins Read
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    A Land of Opportunity

    Real Estate Cambodia has emerged as a high-growth economy in recent years, attracting investors from around the world. Since the end of the civil war in 1993, foreign direct investment has increased significantly.

    1.Reasons to Invest

    Preferential Market Access

    Cambodia is located in the heart of Southeast Asia, an area that has experienced tremendous economic growth over the past several decades. As a member of the Association of Southeast Asian Nations (ASEAN), Cambodia Investment enjoys very low tariffs on most goods it trades with its neighbours. By 2018, the ASEAN Free Trade Area aims to eliminate all tariffs altogether.

    In addition, 2010 is the first year of the China-ASEAN Free Trade Area, a trade block of 1.7 billion people and staggering economic growth. Finally, as a member of the WTO and a least developed country, Cambodia enjoys preferential access to multiple markets.

    Open Economy

    Cambodia Real Estate is one of the most open economies in the region for foreign investment. Low tax rates, investment incentives, and one-stop service for investment all reflect the government’s commitment to attracting foreign investment.

    Competitive Assets

    Tourism has traditionally attracted the most foreign investment. Cambodia attracts more than one million international visitors annually to the world-class destination of Grape Watt. Although temple tourism has already attracted significant foreign investment, significant potential remains.

    In addition, the Cambodian labour force offers a competitive advantage for many firms. With low labour costs and a rapidly rising level of education, the country can offer investors a lucrative return on hard work.

    2.Establishing a Company

    Tourism has traditionally attracted the most foreign investment. Cambodia attracts more than one million international visitors annually to the world-class destination of Grape Watt. Although temple tourism has already attracted significant foreign investment, significant potential remains.

    In addition, the Cambodian labour force offers a competitive advantage for many firms. With low labour costs and a rapidly rising level of education, the country can offer investors a lucrative return on hard work.

    Foreign companies can also operate through a subsidiary, branch or representative office, although they need to be careful not to exceed limited permissible activities. Foreign-owned companies can start business activities like Cambodian-owned companies with significant land ownership exceptions. However, there are several ways to structure investment, such as how a foreign-owned company can effectively control and manage land.

    3.Investment Incentives

    The Ministry of Commerce and the Cambodian Development Council are responsible for overseeing foreign direct Investment in Cambodia. FDI projects that are eligible for business incentives are called Qualified Investment Projects (QIPs) and must be registered with the CDC.

    QIPs can choose between profit tax leave or depreciation allowance. For a certain number of tax holiday years, the profit tax is reduced from 20% to 0%. The depreciation allowance can provide a generous tax break for investors who need to import large quantities of machinery or other capital items.

    Investors wishing to avail the investment incentives should apply to the Cambodian Investment Board, the CDC’s division in charge of application review. The process described in the flow chart is relatively fast and straightforward. The CDC will require investors to apply for licenses from other ministries. Other incentives are also available, depending on the scale of the industry and investment. For example, garments and agricultural investments may benefit from VAT exemptions on certain exports. For those who want to invest heavily in the country, CDC incentives can be an attractive offer.

    4.Taxation

    Cambodia has a softer tax system than most neighbouring countries. Corporate tax rates are low, and filing requirements are simple and smooth. In addition, qualified investment projects can benefit from attractive tax breaks, as determined by the CDC.

    Tax Registration

    All companies are taxable under the Self Assessment System, regardless of the type of business activity or annual income level. Taxpayers of the real government system will have to submit an annual tax declaration, balance sheet, result account and supplementary information tables to the tax administration.

    Once a business is registered with the Ministry of Commerce, it must register with the Tax Department’s Large and Medium Taxpayer Bureau (LMTB) for a Tax Identification Number (TIN).

    Stamp Tax

    A newly established company, branch or representative office is also required to register with the local tax branch office of the tax department and pay stamp duty within 15 days of registration with the Ministry of Commerce.

    Tax on Profit

    The tax on profits is the debt of the resident taxpayer on income from Cambodian sources and from foreign sources. For non-resident taxpayers, this tax is levied only on income from Cambodian sources.

    Minimum Tax

    The minimum tax is a separate tax on profits. It is levied at the rate of 1 of annual turnover, including all taxes, with the exception of VAT. It is payable at the time of annual elimination of profit tax. The minimum tax can be deducted on the annual tax profit that is actually paid.

    Compared to many other countries, Cambodia has a relatively low tax regime. Failure to register and pay properly, while unfortunately common, can lead to serious consequences for any reputable business.

    5.Special Economic Zones

    Special economic zones have recently been introduced in Cambodia. All industrial activities are brought together in a special development under SEZ. Each zone has a production and service area and may include a residential area for workers.

    SEZ offers a one-stop service for imports and exports, with government officials stationed on site to provide administrative services. Applications for setting up factories within SEZs are handled on site as well as with all administrative approvals, permits and powers. Businesses within SEZs also benefit from a number of financial benefits, including income tax, customs and VAT breaks.

    Since adopting the sub-decree establishing economic zones, the government has approved 21 SEZs, located along the border of Thailand and Vietnam, Real Estate Cambodia Sihanoukville and Phnom Penh. Six of the 21 have started operations.

    6.Repatriating Profits

    The US dollar is widely used in business and daily life in Cambodia Real Estate. The national currency, the Cambodian real, hovers around the dollar at about 4,000 riyals, as the government is determined to keep the exchange rate stable.

    Investors can freely convert rail accounts into dollars. Although the Foreign Exchange Act allows the National Bank of Cambodia to enforce exchange control in the event of a crisis, this power has never been used. Many regional banks have opened in recent years, making it even easier for investors to transfer money in and out of the country.

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