On 6 October 2011 we reported that new streamlined procedures for the approval of investment projects and the incorporation of subsidiary companies had been adopted. On 14 December 2011 the Union Ministry of National Planning and Economic Development announced the liberalization of restrictions on permitted business objectives and renewals of Permits to Trade. This announcement was officially published in the gazette on 20 January 2012.

Tags: Myanmar Read More

In this issue we present Cambodian regulations and information touching on the following:

• Creation of a working group for consultation on compliance of anti-money laundering and combating terrorism financing

• Promulgation of the Law on Management of Strong Acids

• Creation of task force for paddy-milled rice section of the Government-Private Sector Forum

• Establishment of Cambodian Architect Council

• Establishment of Cambodian Standard

• Distribution of National Budget Expenditure Credit by Chapters of the Law on 2012 Financial Management

• Preparation of Tourism Statistics

Tags: Cambodia, Legal & Regulatory updates, January 2011 Read More

In this issue we present Cambodian regulations and information touching on the following:

• Adjustment to rate of customs-duty on certain imported merchandise

• Notification on date of the Enforcement of the Civil Code, the Law on Enforcement of the Civil Code, the Law on Procedure of Suit in relation to Individual Status, and the Law on Procedure of a Non-Suit Civil Case

• Proclamation on interest rate limited issued by the Ministry of Justice

• Notification on Registration of Metrology and License for Using Trade Mark of Cambodian Metrology

• Organization and functioning of the Credit Security Fund

• Promulgation of the Law on Financial Management for the Year 2012

• Distribution of National Budget Revenue Credit by Chapter of the Law on 2012 Financial Management

Tags: January 2011, Legal & Regulatory updates, Cambodia Read More

In this issue we present Cambodian regulations and information touching on the following:

• Adjustment to rate of the specific tax and rate of export tax on certain merchandise
• Changes to formalities for Tax Registration
• VAT incentives for growing paddy rice, for collecting/purchasing paddy rice and for producing husked rice
• Determination of Customs processing fee on imported and exported goods
• Promulgation of the Law on Approval on Governmental Guarantee of Payments of the Kingdom of Cambodia to the Cambodia International Investment Development Group Co., Ltd
• Transfer of land area of 9,020 hectares located in Uddor Meanchey province to private company for investment and development on agro-industrial crop and rubber plantation

Tags: December 2011, Legal & Regulatory updates, Cambodia Read More

In the past, as a general rule, only two state banks were engaged in foreign exchange dealings in Myanmar. Now foreign exchange licenses have been issued to eleven private banks in a significant step towards liberalizing Myanmar’s foreign exchange regime.  Our team in Yangon reports...

Tags: Untagged Read More

The Civil Code of Cambodia (the “Civil Code”) was adopted by Royal Kram № NS/RKM/1207/030 dated 8 December 2007 as part of the first phase of the Plan of Action for Implementing the Legal and Judicial Reform Strategy which was implemented by the Royal Government of Cambodia on 29 April 2005. Defined as both a fundamental law (together with the Criminal and Civil Procedure Codes and the Criminal Code) as well as a strategic objective of the Council for the Legal and Judicial reform, the Civil Code did not take effect until the law on its implementation had also been promulgated. This – the Law on the Implementation of the New Civil Code (the “Implementation Law”) was promulgated by the King on 31 May 2011 which set the effective date for the implementation of the Civil Code at 21 December 2011. 

Introduction: Civil Code Pointer

1. New Civil Code: Juristic Persons

2. New features in Contracts and Torts under the Civil Code

3. Real Estate Transactions under the Civil Code

 

Tags: Untagged Read More

In this Issue:

• LABOR
  
• LAND AND PROPERTY
  
• FINANCE
  
• CRIMINAL LAW AND PROCEDURE
  
• PRIVATIZATION/STATE PROPERTY
  

Tags: November 2011, Cambodia, Legal & Regulatory updates Read More

In the current Cambodian tax laws and regulations, there are a number of tax rules which pose problems or are difficult to interpret in case a company is listed on the CSX. In order not to pose an obstacle to the growth of the CSX, such rules should be clarified or amended for that situation. As international studies show, clear and coherent tax rules are more persuasive for foreign investors in Asia than temporary low rates .

Tags: Untagged Read More

 

Cambodia’s legal framework, in the area of potential liability for company directors, is largely unknown, even to those who hold such positions.  Directors, as well as officers and managers, are often surprised to learn the extent to which they could be held personally liable for engaging in certain acts or failing to comply with various corporate governance and corporate secretarial requirements.

 

Tags: Untagged Read More

Welcome to this edition of DFDL MEKONG’S Cambodia Law Update. In this issue we present Cambodian regulations and information touching on the following:

Tags: Untagged Read More