Keller-Williams market entry to increase licensing requirements, raise tax revenues

• 21 August 2018
• Local News
• 870 Views

To help ensure the sustainability and progress of the real estate sector, local firm Khmer Real Estate Co., Ltd. has acquired the right to franchise the world’s largest real estate business, Keller Williams.

This commitment was made by Dr Kim Heang, CEO of Khmer Real Estate who told Fresh News that, “all land agents in Cambodia will do business with property licenses and must pay tax to the government when joining with Keller Williams-Cambodia, and they cannot escape from the law”.

Keller Williams is a well-known real estate franchise company that provides a business model for its agents. To become one of Keller Williams’s agents, those agents are required to obtain a license from the Ministry of Economy and Finance while also participating in regular training sessions.

Through this license, there will be more tax revenue for the government, which will help to promote the development of the country.

The Royal Government recently issued a new order related to the transfer of property rights not yet recognised by the cadastral administration. (Read more)

• Business and Market