MEF calls for permit and license applications by end of April

• 11 April 2020
• Local News
• 5811 Views

The Ministry of Economy and Finance (MEF) has called on all owners of lot development businesses to apply for their permits of lot development businesses and land licenses of lot developments before 30 April this year.

“MEF has mandated all owners of lot development business occupying land under 10,000 square meters to apply for their permit of lot development business at the Municipal-Provincial Department of Economics and Finance. Meanwhile, all owners of lot development businesses who own more than 10,000 square meters of land must apply for a license of lot development at the MEF,” stated the MEF information letter of 8 April 2020,

In addition, the MEF or the Department will take action on those owners of lot development businesses who do not comply with this call and they will be fined in accordance with Prakas No. 089 SHV.PRK, dated 20 April 2020, on the management of immovable property development business.

By the Prakas above, Article 44 states that the transmission of a lot of development business without a license or permit or operation before the issue of the license or permit must pay a fine of 50,000,000 riels. In cases where the misconduct continues occurring, the fine shall be doubled and filed to the court. (Read More)

• Laws and Regulation