Let’s Find Out! EP 45: The differences between real estate evaluation and estate service business

<div class="youtube"> https://www.youtube.com/watch?v=nYrLL5C6T8Q&t=17s </div> By law, all businesses in Cambodia must be registered and pay taxes. Similarly, businesses providing real estate evaluation service and real estate services also need licenses. What are the differences between the two types of businesses, and what are the legal procedures to open these business...

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Cambodia Constructors Association Urges Government to Cut Construction Permit Red Tape

The Cambodia Constructors Association (CCA) and private firms in the construction and real estate sector have urged the government to cut some of the complicated and unnecessary procedures when applying for construction permits to attract new investors and ease the business environment in Cambodia. The proposal was made during a meeting between the Ministry of Economy and Finance (MEF) with the...

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The Process of Title Conveyance for Land with Soft and Hard Title

Transferring ownership is the basic yet necessary procedure after purchasing or selling any real estate. To avoid dispute, both the seller and the buyer are required to know the procedure. How to legally perform title transfer? What are the essential steps? What are the similarities and differences between soft title and hard title when transferring? Title conveyance is made with legal docum...

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How Will Capital Gains Tax Affect the Real Estate Market in Cambodia?

The implementation of the 20% captain gains tax starting from January next year has become a controversial debate in Cambodia following the announcement last month, especially within the real estate sector (Read more). Some have claimed that the tax is way too high and is not the right time amid the COVID-19 crisis. Others have said it is an effective way to control unregulated inflated propert...

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Kampot Administration Process Land Acquisition to Long-term Occupants in Bokor National Park

The Kampot Provincial Administration is currently reviewing the applications and will soon gift land to those eligible long occupants in Bokor National Park, according to the work progress meeting on 09 September. Undersecretary of State at the Ministry of Environment HE Saut Yea said in the meeting that land ownerships would be granted only to those who are eligible. “Before granting the la...

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362 Officials Assigned to Oversee Nationwide Implementation of Construction Law

The Ministry of Land Management, Urban Planning and Construction (MLMUPC) has appointed 362 officials to oversee the implementation of the construction law, including inspecting, monitoring, and investigating all construction developments nationwide. The special team, including those from the national and sub-national levels, were appointed following Prakas No 141 dated 04 September 2020. Their...

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Evaluation and Immovable Service Businesses Must Obtain Certificate or License

By law, all businesses in Cambodia must be registered and pay taxes. Similarly, businesses providing evaluation services and immovable services also require a professional certificate or business license from the Ministry of Economic and Finance. An evaluation service conducts an appraisal to determine the value of an asset and its benefits located or attached to it. Meanwhile, immovable servic...

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Let’s Find Out! EP 42: What Type of Land Developments Must be Approved by the Competent Authorities?

<div class="youtube"> https://www.youtube.com/watch?v=Be4upx6a9uI&t=100s </div> Land is a type of immovable property that has great potential in the real estate business in Cambodia. There are many forms of land development and each of them is controlled by different laws and regulations. What type of land developments must be approved by the competent authorities? Subscrib...

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GDT to Initiate Capital Gains Tax Collection from January 2021

The General Department of Taxation (GDT) of the Ministry of Economy and Finance will collect tax on capital gains from 01 January 2021, after delaying implementation since July 2020. According to the Prakas of the Ministry of Economy and Finance, capital gains refers to taxable income from the sale or transfer of capital deducted with occurred expenses. Capital refers to real estate, leasing...

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New Law Allows More Foreign Workers Amid High Labour Demand in Construction Sector

Photo: the print.in The Ministry of Labour and Vocational Training announced in a Prakas that companies are now allowed to employ more foreign workers if they cannot find enough local staff, amid a high demand for labour in the construction sector. According to the Prakas published on 14 August 2020, companies are now permitted to hire foreign workers of a greater number than the legal stand...

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