Amendments to Law on Commercial Enterprises & Commercial Rules and Register

On 29 January 2022, Law on Amendments to Law on Commercial Enterprises & Commercial Rules and Register were promulgated.

The main points of the amendment of the Law on Commercial Law and Registration are as follows:

Article 11- New (two)

The Ministry of Commerce shall send a copy of the commercial register and all documents related to business registration to the Commercial Court as documents for commercial jurisdiction.

March 14 - New (two)

At least 15 (fifteen) days before the start of their business, merchants must register a business listing at the place where he does business.

The place to apply for business registration is at the Capital or Province Department of Commerce or other places as determined by the Ministry of Commerce.

The merchants must submit to the place of business registration a copy in duplicate, signed or fingerprinted by the person concerned.

Article 17: New (two)

All companies with commercial activities in the Kingdom of Cambodia must register their business, regardless of the form of establishment and duration of those companies.

Registration of this business register shall be made by the incorporators or directors of the company in the month of the establishment of the company and 15 (fifteen) days before the date of opening the business transaction.

Article 47 - New

All merchants or directors of a company has the obligation to implement the accounting and auditing rules in accordance with the Law on Accounting and Auditing of the Kingdom of Cambodia and the relevant regulations in force.

All merchants or directors who violate the above paragraph shall be liable in accordance with the laws and regulations in force.