Comparing Two Types of Real Estate Business Licenses in Cambodia
All development business for condominiums, land lots, office buildings, malls and residences for the purpose of selling or long-term leasing must be licensed by the Ministry or permitted by the Provincial-Municipal Department. All real estate development businesses are divided into three categories: 1) residential development building apartments and villas for sale, 2) co-ownership building business […]
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Gov’t to Collect VAT on Online Business
The Generation Department of Taxation (GDT) announced on 13 April that it will begin to collect value-added tax (VAT) on all online businesses soon, while the detailed procedures are set to be announced later. This announcement is made following the new sub-decree issued on April 8, which states that the tax will be applied to […]
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Understanding Four Major Property-Related Taxes in Cambodia
In Cambodia, all real estate transactions are taxable. The four major property-related taxes as follows: Property Transfer Tax or Stamp Duty Tax (4%) A tax rate of 4% applies to all transfers of property. This tax is often paid by buyers, but it can be negotiable depending on their contracts. Taxpayers must pay the tax […]
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Japanese Firm Wins Bid for Choeung Ek Wastewater Treatment Plant Construction Work
A Japanese private company Kubota Metawater Joint Venture has won a bid to construct a US$27 million large-scale wastewater treatment plant at Choeung Ek Lake in the southern part of Phnom Penh. The bidding ceremony was held in Tokyo, Japan on 12 April. With the capacity to treat water up to 5,000 cubic metres/day, the […]
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Chinese Loan Not a Debt Trap, Says Chinese Embassy
The Chinese Embassy in Cambodia yesterday issued a letter stating that China has no intention of setting up a debt trap or seizing Cambodia’s sovereignty. However, the Chinese loans rather have helped promote development in Cambodia to a large extent. The letter was issued in response to RFA’s recent allegations that the Chinese loans to […]
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Similarities and Differences Between Pledges and Hypothecs
According to Articles 816 and 843 of the Civil Code, a pledge is different from a hypothec. For pledge transactions, the creditor has the right to possess and use the pledged property. However, in the case of hypothec transactions, the creditor has no right to possess the collateral, which means debtors can still can use […]
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Construction delays another greatest risk for the condo market besides oversupply
Construction delays, as well as the delays in handover date, are the two main concerns in the condominium market at the moment, followed by the oversupply issue, according to CBRE Cambodia’s recent report. The report added among other causes, the loss of foreign investment in the sector is the prominent one that negatively impacts the […]
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Diamond Island Convention Centre to Become COVID-19 Treatment Facility
The OCIC, Canadia Group, and Cambodia Constructors Association (CCA) Chairman Neak Oknha Pung Kheav Se has allowed the government to convert Diamond Island Convention and Exhibition Centre as a COVID-19 treatment facility, according to Prime Minister Samdech Hun Sen on 10 April. PM Hun Sen announced that currently there are three hospitals to treat COVID-19 […]
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US$2.8-billion Phu Quoc large-scale resort to open in late April
A large-scale resort spanning over 1,000 hectares on Phu Quoc Island is set to officially open on 21 April, according to Inside Asian Gaming. Known as the Phu Quoc United Center, the resort has been built by the VinGroup with an investment value of US$2.85 billion. Located in the northern part of Phu Quoc Island, […]
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Land Ministry Speeding Up Work on Land Usage Masterplan in Mondulkiri
The Ministry of Land Management, Urban Planning and Construction (MLMUPC) has recently chaired a meeting with relevant officers to review and speed up progress on the land-use masterplan in Mondulkiri. Held on 8 April, the meeting was chaired by the Secretary of State of the MLMUPC Pen Sophal with the participation of the special working […]
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Sihanoukville Not Best Strategic Spot for Chinese Naval Base: The Diplomat
An article by The Diplomat has recently asserted that Sihanoukville’s Ream bay is not the ideal strategic spot for a Chinese naval base. The article was written by local analyst and researcher Chen Heang where he provided four key arguments to support his claim. 1) Ream Bay is not deep enough to undertake major naval […]
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HCMC-Moc Bai Expressway Construction to Begin in 2023, PP-Bavet Still Being Studied
Construction of the US$587-million HCMC- Moc Bai expressway is set to begin in 2023 and be completed in 2025, while the Phnom Penh to Bavet expressway on the Cambodia side is still undergoing a feasibility study. According to the VN Express report yesterday, the authorities are trying to complete procedures and the feasibility study of […]
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