On 15 October 2021, the new Law on Investment was promulgated by virtue of Royal Kram No. NS/RKM/1021/014 ("Law on Investment") on an urgent basis, and has been in force since 16 October 2021 throughout the country. The Law on Investment abrogates the old Law on Investment and its amendment. It applies to all qualified investment projects ("QIPs"), expanded QIPs and guaranteed investment projects (collectively referred to as "Investment Projects").
An application for an Investment Project must be submitted online to the Council for Development of Cambodia ("CDC") or the Provincial-Municipal Investment Sub-Committees ("Sub-Committees") via this link that brings the users to CDC's information technology platform. CDC or the Sub-Committees will issue a registration certificate ("Registration Certificate") within 20 working days if such proposed Investment Project is not listed in the "negative list" of prohibited or restricted business lines or sector.
The Registration Certificate is tied to a bar code or QR code, or other technology system that provides preliminary information pertaining to the registered Investment Project. The registered Investment Project will be automatically implemented upon obtaining the Registration Certificate.
Any person whose sector/investment activity is (i) listed in the Law on Investment; (ii) does not belong to the negative list; and (iii) is certified as a QIP is eligible to obtain basic tax and/or customs duties incentives in whole or in part.
For more information, click here to read our Legal Update.
