Cambodia launches online business registration

PHNOM PENH, Dec. 7 (Xinhua) -- The Cambodian Ministry of Commerce on Monday launched online business registration, reducing the time to register a company from seven days to one hour, Minister of Commerce Sun Chanthol said.

"With the online business registration, applicants can register their companies from anywhere in the country and in the world without coming to the ministry of commerce," he said at the launching ceremony.

The applicants could pay the application fee by electronic payment and print their own certificate of incorporation, he said.

They can register their companies at www.businessregistration.moc.gov.kh and pay the fee of 1,720,000 riel (about 430 U.S. dollars) via e-payment service.

Meanwhile, the minister called on all existing companies to re-register their companies using the online registration system from now until March 31, 2016.

"The registration fee will not be imposed for the re-registration of the existing companies," he said. "However, a penalty shall be imposed for those who do not re-register before this due date."

He said the kingdom's 42,000 existing companies are required to re-register their companies with the new online system.

Van Sou Ieng, president of the Cambodian Federation of Employers and Business Associations which represents over 1,000 companies, said the online registration system demonstrated Cambodia's willingness to ease applicants in their company registration.

"The online business registration is more simple and easy. One can register a company from everywhere that internet is available, no need to be present in Cambodia," he said.

The Ministry of Commerce commissioned software registry company Foster Moore to carry out its online registration project at a cost of 750,000 U.S. dollars.