Registering a Business in Cambodia

[Rhoel]

I have been asked to set up an outsourcing facility for a EU company and I need to set up a registered business to do this: We will probably upgrade the business to a company later if the initial outsourced project is successful. Right now, speed is of the essence which is why we are going the business route.

I would appreciate any useful information from anyone who has already complete a business registration, and the name of any reliable lawyer who could do this: If they can be the registered business address, even better as I cannot sign premise lease until the outsourcing contract is signed - kind of Catch22 on that one.

I need to have this completed by the beginning of February as I need a business bank account in the registered name.

Thanks in advance.

Rhoel

[campbodia]

hey Rhoel you should search the forum there's heaps of info on this very topic.

[Rhoel]

hey Rhoel you should search the forum there's heaps of info on this very topic.

Yup, and some was out of date, another a flame war. I was hoping for a more up-to-date picture as there has been some changes to (or an enforcing of) existing business law.

Currently, I am being messed around by one law company who want over $2000 for a simple business registration, for which I only need for the bank account and office lease. Being Chinese New year, others law firms I could have contacted are closed.

Considering this manufacturing outsourced project is high risk, the kind of stupid money asked means it just isn't worth it. If the locals hirelings fail to make the standard expected by the Europeans, we get cut loose at two months. With the legal fees added to the overheads and wages, I'd be loosing money.

Rhoel

[barforsalecambodia]

Being on such a shoe string budget, I think you'd be better off just talking to punters over $0.63 beers at our place.

[Rhoel]

Being on such a shoe string budget, I think you'd be better off just talking to punters over $0.63 beers at our place.

Actually, the total budget is over $100K, involving three production facilities in 3 countries. Cambodia is new to the project and being an unknown quantity, the commissioning company has a cut-out clause which means I could be left nursing a hefty bill. Not sure too many people here would invest their own savings on a bar/restaurant/new venture knowing it could be closed in 2 months.

If I can defer $2K by not having to register a company now then I'll sleep a little happier.

[barforsalecambodia]

I need a business bank account in the registered name.

As far as I know, there's no way to do this without the government docs so you'll have to spend on these things up front.

[Rhoel]

I need a business bank account in the registered name.

As far as I know, there's no way to do this without the government docs so you'll have to spend on these things up front.

The latest suggest is to put the training phase though another company - I have a conference call with the Europeans tonight to see if they will go with this pr pay to a private account. I could put it through an existing UK business account but then I would be exposed to UK taxation.

[campbodia]

Actually, the total budget is over $100K, involving three production facilities in 3 countries. Cambodia is new to the project and being an unknown quantity, the commissioning company has a cut-out clause which means I could be left nursing a hefty bill. Not sure too many people here would invest their own savings on a bar/restaurant/new venture knowing it could be closed in 2 months.

If I can defer $2K by not having to register a company now then I'll sleep a little happier.

$100k budget for three PRODUCTION facilities. Sounds extremely cheap to me. If I go ahead with a gh in Cambodia my budget would be around $150k. Thats for leasing a 8 to 12 room hotel. Think you better do your figures again.

the commissioning company has a cut-out clause

Doesn't sound like they are willing to stand behind there product or haven't research their market properly to know what is likely to happen rather than just see what happens? Bad business practice.

$2000 isn't that much money after all.

[Rhoel]

Try reading that again - the deal is $100K, over 6 months, and the project involves 3 facilities - I have no idea what the parent company is spending outside of Cambodia.

The background to this is I have been bringing outsourcing work to Cambodia for the past two years, for Cambodian companies. I know the European market which they don't, they have the labour force which I don't. It worked well, symbiotic. But late last year, I was financially shafted by one company who elected not to pay after a lot of time and effort invested: I decided I'd be better off outsourcing directly for myself. With the economic pressure in the US and Europe, many companies are seeking to outsource work to the Far East: The work ranges from IT and graphic design to a host of manufacturing and assemble work. One architectural company now has all its miniatures built in Thailand, at a fraction of the US price. Since the Japanese tsunami, they are here big-time looking for cheaper operating conditions with less red tape. Its become a good time for local facility companies. I am aware of at least 3 others providing providing outsourcing work and all are busy.

Tonight the Europeans approved Plan B, which is to delay the registration by two months, until the training is finished. now its heads down on getting the guys trained.

[mannacambodia]

Try reading that again - the deal is $100K, over 6 months, and the project involves 3 facilities - I have no idea what the parent company is spending outside of Cambodia.

The background to this is I have been bringing outsourcing work to Cambodia for the past two years, for Cambodian companies. I know the European market which they don't, they have the labour force which I don't. It worked well, symbiotic. But late last year, I was financially shafted by one company who elected not to pay after a lot of time and effort invested: I decided I'd be better off outsourcing directly for myself. With the economic pressure in the US and Europe, many companies are seeking to outsource work to the Far East: The work ranges from IT and graphic design to a host of manufacturing and assemble work. One architectural company now has all its miniatures built in Thailand, at a fraction of the US price. Since the Japanese tsunami, they are here big-time looking for cheaper operating conditions with less red tape. Its become a good time for local facility companies. I am aware of at least 3 others providing providing outsourcing work and all are busy.

Tonight the Europeans approved Plan B, which is to delay the registration by two months, until the training is finished. now its heads down on getting the guys trained.

Are you a troll or what ?? All this to save for 2000 bucks. Be informed that tomorrow evening Walkabout jacpot is over 6300 bucks. 1 ticket 1 $. Or is also too much for you ?

[mannacambodia]

Rhoel. In case you have to ask European Board directors for permission to buy 1$ticket, you can use my phone, cheaper for you.

[campbodia]

less red tape

[pattyflipper]

I've just heard that the OP of this thread, Tim Francis, died from a heart attack last night. RIP Tim.

[Playboy]

I've just heard that the OP of this thread, Tim Francis, died from a heart attack last night. RIP Tim.

Do you mean Tim Francis from Film Cambodia Org ?

Is this confirmed, or another bullshit internet deathpat rumour ??

[pattyflipper]

Yes. That is he.

Not a bullshit rumour. His landlord just phoned me to give me the news. He had had a heart condition for several years. The Consulate and his brother in Indonesia have been informed.