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Angkor Times Latest Questions

Angkor Times
Angkor TimesExperienced
Asked: July 10, 2021In: Money

What documents do you need to prepare to register a small business in Cambodia?

We now see a number of new businesses popping up in Cambodia. And in that case, registration is a necessary thing for any business owner or company to do. This listing also has many benefits for our business. After all, ...Read more

We now see a number of new businesses popping up in Cambodia. And in that case, registration is a necessary thing for any business owner or company to do. This listing also has many benefits for our business. After all, for those who want to open a company or want to register a business, what documents do you need to prepare?

According to Mr. Puthea, an agency that provides registration and tax declaration services, for those who want to register a small business, they have to run the registration law at two locations, the first one-way office (by province or by province). Khan for Phnom Penh). Second, Capital / Province Department of Commerce.

In particular, the documents that we need to prepare to register a small business are as follows:

1. Business license application (Department of Commerce or from the OWSO and 3 copies must be made)

2. Brief biography/CV

3. Lease contract, location or other contract

4. Identity card

5. 3 photos of business owner

6. Business location photos

7. Business owners’ phone number

Separately for self-registration can cost about ($ 200 to $ 250) and for relying on an agent to help register is about ($ 300 to $ 450). The average time to register for this small business is about one month.

It should also be noted that what we have mentioned above is only relevant to small business registration. For those who need to use the business registration service, you can also contact Mr. Puthea by calling 086 82 52 33 or Facebook Page: Registration and tax declaration agency.

Documents to prepare to register a small business in Cambodia

Documents to prepare to register a small business in Cambodia

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SOVANN
SOVANNExperienced
Asked: July 8, 2021In: Money

What should businesses in Cambodia do during Covid19?

Many businesses have been stopped their operation while other still slowly running during Covid19 pandemics. The demand of online services are on the rise in Cambodia as most businesses cannot operate offline. Here’re some suggestions of businesses in Cambodia should ...Read more

Many businesses have been stopped their operation while other still slowly running during Covid19 pandemics. The demand of online services are on the rise in Cambodia as most businesses cannot operate offline. Here’re some suggestions of businesses in Cambodia should do during Covid19:

1. Exploring the possibility of turning your business to digital

No mater what type of buisness you are operating in Cambodia, let test and explore ways you can turn your offline business to online if possible. To do so, you should be better to find mentor or digital marketing consultant to provide your practical advise how you can turn your business online. On the other hand, you may want to change your business nature slidely to fit with the current situation of covid19.

2. Take online courses

While you might have much spare time during Covid19, you may want to strengthen your capacity or skills in selling your products or services online, if though you will need to take some digital marketing courses so that you have enough capacity to turn your business from offline to online. Here are some best online courses in Cambodia you may want to take: http://www.sovanntv.com/courses

3. Reduce staff working hour or working from home

You may want to explore possibility to reduce numbers of staff who are working in different position to work from home or cut working hours so that your operating costs are reduced during Covid19.

4. Building online community or networks

If you think that you business is able to turn to online, you may want to build fan-based online community, like Facebook Group and Telegram group where you can engage and sell your products and service to them.

Business in Cambodia During Covid19

Business in Cambodia During Covid19

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SOVANN
SOVANNExperienced
Asked: July 3, 2021In: Money

What are the top 5 strategies you’ve used to survive the business in 2021?

Here is a question raised on social media that “What are the top 5 strategies you’ve used to survive the business in 2021?” A lot of businessmen and businesswomen were given their thought as below: Turn to online platform innovation Capacity building ...Read more

Here is a question raised on social media that “What are the top 5 strategies you’ve used to survive the business in 2021?” A lot of businessmen and businesswomen were given their thought as below:

  1. Turn to online platform innovation
  2. Capacity building to team
  3. Safety policy guideline for make sure everyone safe.
  4. Regular review of marketing performance and amendment to adopt situation.
  5. Revive unnecessary cost
  6. Keep old customers by reducing the price
  7. Continuing sales through remote meeting
  8. Provide solutions to customers by selling business management technology online.
  9. Punish employees who do not respect the safety principles of Covid 19 procedures
  10. Do not cut the salary of employees, make them feel calm and focus on work.
  11. Digital channel improvement
  12. Social media corporation
  13. On site premium service
  14. Online Communication
  15. KOL Alliance

More info: https://bit.ly/3h9MB7o

've used to survive the business in 2021

‘ve used to survive the business in 2021

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Angkor Times
Angkor TimesExperienced
Asked: June 27, 2021In: Money

How can “Cambodia Trade” support your business in Cambodia?

Cambodia Trade is an e-commerce marketplace that operates through www.CambodiaTrade.com under the auspices of the Ministry of Commerce in order to assist small and medium enterprises in Cambodia to sell their products online to potential customers in both domestic and ...Read more

Cambodia Trade is an e-commerce marketplace that operates through http://www.CambodiaTrade.com under the auspices of the Ministry of Commerce in order to assist small and medium enterprises in Cambodia to sell their products online to potential customers in both domestic and overseas markets.

The market was established with the financial support of the Enhanced Integrated Framework under the Cambodia e-Commerce Development Project (Go4eCAM), which aims to promote the benefits of online commerce. Electronic systems for small and medium enterprises.

Cambodia Trade is now open for pre-registration to small and medium enterprises wishing to sell their products in this market. In order to have access to the market, small and medium enterprises must comply with the following regulations:
1. A company or enterprise that is officially registered with the Ministry of Commerce or has a business license

2. Have a valid Patent Certificate and VAT Certificate

3. Sell ​​products made in Cambodia.

For more details, please read the following announcement:

http://www.cambodiatrade.com

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Angkor Times
Angkor TimesExperienced
Asked: June 22, 2021In: Money

Why is Facebook Engagement So Low in Cambodia?

Social media engagement is an important part of any social media marketing campaign and should be monitored very closely. Your social media engagement rate is simply the percentage of people who have seen your content and interact by either leaving a comment, liking the ...Read more

Social media engagement is an important part of any social media marketing campaign and should be monitored very closely.

Your social media engagement rate is simply the percentage of people who have seen your content and interact by either leaving a comment, liking the post or sharing it.

Not only is it critical to have high social media engagement rates for social proof, it is also important as the more engaged prospects and customers are with your content, the more likely they are to spread the word about you.

Plus, the more social media engagement your posts receive, the more organic reach your posts will get. In other words, more people will see your posts in their timeline, the more engagement they receive.

Ideally, when measuring social media engagement, posts should get an average of 1% engagement. So if 100 people see your posts, 1 person should engage with the post at least.

If your social media engagement metrics show an engagement rate consistently lower than 1% there could be a few reasons why.

Reason 1: not using the right social media networks

Each social media platform is different, and attracts a different type of audience. For example, Pinterest tends to attract a larger female audience interested in arts and crafts whereas LinkedIn tends to attract mainly professionals.

Therefore, your social media engagement strategy should include joining the right social network for your business to make it easier to connect with your ideal audience. When you do, this will increase your chances of experiencing higher social media engagement.

Reason 2: not including calls to action in your posts

Your social media engagement strategy should include content with calls to action such as “retweet if you agree” or “please like this post and share it to help spread the word” tend to attract more social media engagement.

In fact, according to marketingprofs.com, posts that include the word “share” garner nearly two times as much engagement on average compared with those that don’t.

Reason 3: You’re over promoting

If your social media engagement metrics show a low engagement rate, you could be over-promoting your business and not providing enough value through quality content posts.

When advertising your products or services on social networks, it is not only important to make sure your marketing is “conversational”, it is equally important to make sure it doesn’t represent the majority of your content.

Try to apply the 80/20 rule where 20% represents your advertising-driven content and 80% represents your value-adding content. By applying the 80/20 rule, you will earn the trust and respect of your audience, and they’re more likely to pay attention to your posts and engage with your posts too.

Reason 4: Your posts are not multi-dimensional

If your social media engagement metrics show a low engagement rate, your posts might not be multi-dimensional enough

When putting together social media engagement strategy and content plan, making sure there is a healthy balance between different types of posts is critical. Once content is varied between news, offers, humour, education, quotes, videos, infographics etc… you become less predictable, more interesting and will start appealing to more people.

The people who are more visual, will be drawn to your visual content such as your videos and infographics whereas people who are avid readers will be drawn to your blogs posts, your commentary or quotes.

Reason 5: You don’t track your posts

If your social media engagement metrics show a low engagement rate, it might be because you are not looking at your social media engagement metrics and tracking your posts.

The ability to track and analyse social media engagement metrics is a skill that is absolutely critical when wanting to increase social media engagement.

By closely monitoring your social media engagement metrics when publishing content on social networks, it becomes easier to craft posts according to what your audience is most likely to respond to, and therefore help you increase social media engagement.

On Facebook for example, go to your Facebook page and click on “insights”. Then click on “posts” and you’ll see a table that displays all your posts and a column that shows how much engagement each one received. Look at the ones that received the most engagement and try to identify whether these posts had anything in common. If they have anything in common, for example, they covered a specific topic or included an image, etc… then make sure to publish similar posts.

Reason 6: You are not posting at the right time

The sixth reason you might not be experiencing as much engagement as you would like, could be because you are not posting content at the right time, when your audience is actually on the social network.

In order to discover your optimal times on Facebook, simply go to your Facebook page and click on “insights” and then click on “posts”. When you do, you’ll notice a grid with all your posts and a column which displays how many engagements each post received. Take a note of the posts that received the most engagement and notice the time and dates they were published.

Above the grid there is a graph that also displays when your fans are online. Hover your mouse on the peak of the graph to display the time most of your fans are online.

To find out when your Twitter followers are on the platform, you can use the tool called Tweriod.com This tool allows you to discover the optimal times to publish your tweets according to your audience.

Reason 7: You’re not humanizing your brand

If your social media engagement metrics show a low engagement rate, it could be because you’re not humanizing your brand. In other words, you are not publishing pictures of the people behind your brand, such as yourself, your customers and your team.

Posts that humanize brands receive a much higher engagement rate than any other type of post. This is why you’ll notice that some companies, such as airline companies will publish pictures of their pilots, passengers and flight attendants.

So when possible, remember to publish humanizing types of posts on your social media accounts to help increase social media engagement.

Remember, although social media success is usually measured according to a business’s audience size, real success is measured by how engaged an audience is.

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Angkor Times
Angkor TimesExperienced
Asked: June 21, 2021In: Money

How to Become a Real Estate Broker in Cambodia

Real estate brokering is a lucrative career that offers flexible hours and the opportunity to meet many different kinds of people. In this article, we discuss the duties and responsibilities of a real estate broker and provide you with ...Read more

Real estate brokering is a lucrative career that offers flexible hours and the opportunity to meet many different kinds of people. In this article, we discuss the duties and responsibilities of a real estate broker and provide you with steps for pursuing this career path. We’ll also cover the average salary and frequently asked questions about becoming a real estate broker.

What does a real estate broker do?

Real estate brokers help people buy, sell and lease commercial, industrial and residential properties. They help negotiate the final contract and guide their clients through every step of the real estate transaction–including inspections and repairs–that need to be completed before a sale. Here are some common duties of a real estate broker:

  • Creating property listings
  • Advertising available properties
  • Scheduling open houses and showings
  • Taking photographs of properties
  • Helping clients determine their property needs and budget
The average salary for a real estate broker

Real estate brokers earn most of their income through commissions from real estate transactions. This means that real estate broker salaries can vary depending on the housing market and location.

  • Common salary in the Cambodia.: $1800 per month

How to become a real estate broker

Real estate brokers require course training, licensing and on-the-job training. Here are the requirements you need to become a real estate broker:

  1. Take a state-approved real estate sales course.
  2. Pass your state’s real estate agent licensing program.
  3. Work as a real estate agent.
  4. Get real estate certifications.
  5. Take a state-approved real estate broker course.
  6. Pass the real estate broker exam.

1. Take a state-approved real estate sales course

First, real estate brokers need to be trained. These courses teach you about real estate legal issues, real estate finance, insurance, taxes and ethics. You need to be sure that the course you take is approved by your state licensing board to qualify for your license.

2. Pass your state’s real estate agent licensing exam

You must become a licensed real estate agent to become a real estate broker. The exam covers subjects like closing a deal, negotiations, real estate law and working with clients. Each state uses a different exam, so you should check with your state’s real estate licensing board to check the requirements.

3. Work as a real estate agent

Before you can start training as a real estate broker, you must work as a real estate agent. Every state has different requirements, but usually, it is two to five years working for a real estate broker and a certain number of real estate transactions. This experience will allow you to become familiar with working in real estate and build a reputation. It will also let you build a network and reputation.

4. Get real estate certifications

You can earn several certifications to specialize in different types of real estate. This will help build your reputation and focus your brokerage. Some examples you can focus on include military relocation and buyers and sellers, but there are many others. You will need to take courses and pass an exam to earn these certifications.

5. Take a state-approved real estate broker course

Once you gain experience as a real estate agent, you can take the real estate broker course. This course goes into more detail about contracts, ethics, insurance and taxes than the real estate agent course, while also discussing the legal issues of running a brokerage, property management, construction and real estate investments.

You will be held to a much higher standard than a real estate agent, as you will be allowed to work without supervision. Make sure that it is approved by your state’s licensure board so that it qualifies for your broker license.

6. Pass the real estate broker exam

Every state has different exam requirements, but you must pass an exam to earn a real estate broker license. This exam is longer than the real estate agent license, often taking a full day to complete.

Frequently asked questions about becoming a real estate broker

Here are some frequently asked questions about the real estate broker career path:

What education is required to become a real estate broker?

A high school diploma or equivalent is required to become a real estate broker, in addition to completing real estate training programs.

What are the skills I need to become a real estate broker?

You need to have excellent communication and negotiation skills. You need to be able to understand marketing, analyze data and understand legal matters. You should also know about the area where you are working.

Related: Integrative Negotiation: Definition, Tips and Examples

What is the work environment for real estate brokers?

Real estate brokers have irregular schedules and can spend a lot of time traveling to meet clients and view properties. You will need to actively find properties and clients, create listings and advertising, write contracts and host open houses. Real estate brokers often work evenings and weekends to accommodate their clients’ schedules and viewing times.

What kinds of computer skills will I need as a real estate broker?

You will need to be able to search for listing details on the MLS database. You should also be able to do basic digital marketing. You will be working in spreadsheets and word processors to analyze data and write contracts.

What is the difference between real estate agents and real estate brokers?

Real estate agents must work for a brokerage. They are not licensed to work on their own. Real estate brokers may still work for a brokerage but they are licensed to open their own and hire other real estate professionals.

Where can I take real estate courses?

There are many options for where to take real estate courses. You should check your state’s real estate licensing board for programs that meet the licensing requirements.

Are there different types of real estate brokers?

Yes, there are three kinds. The principal broker oversees the brokerage and makes sure the real estate agents who work there are properly licensed. The managing broker oversees the daily operations of the real estate brokerage, including hiring and training real estate agents and managing the office staff. Finally, the associate broker has a broker’s license but does not supervise others.

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Angkor Times
Angkor TimesExperienced
Asked: June 21, 2021

What Are the Causes of Traffic Jam in Phnom Penh?

What Are the Causes of Traffic Jam in Phnom Penh? I think traffic problems in Cambodia cause by 3 main issues: growing environment, People selfishness, and Personal attitude. 1. Growing Environment At first glance, Phnom penh is a city of motor-bike! In ...Read more

What Are the Causes of Traffic Jam in Phnom Penh?
I think traffic problems in Cambodia cause by 3 main issues: growing environment, People selfishness, and Personal attitude.

1. Growing Environment

At first glance, Phnom penh is a city of motor-bike! In Cambodia kid learn to drive from bike to motor-bike (or Tuk-Tuk) without any driving license or learning any traffic law. The driving habit is quite organic. For example, you can see motor-bike or tuk-tuk is trying to straight forward into any hole they spot! if they see free space or gap in-between they straight into it. This habit growth sometime even when they own a car! As a result they block most of the space so other vehicles cannot pass, thus everyone get stuck in the road.

2. People Selfishness

Lack of knowledge of using public space or walk-way or even the used of road space in front of household, or misuse of public space in front of home. For instant, home or shop owner are occupied ever centimeters of the space in front of their home, most take it even further, park their vehicle on the road, therefore it is created even more obstacle for passenger both drivers and walkers.

3. Personal Attitude

Other main thing is that, the culture of understanding, forgiveness, and respect each other. For instant, sometime, when accident happen, everybody say they are not wrong at all, everybody want to be the absolute right.

All in all, we have to learn and understanding the advantage of following the traffic law which is keep the road free flow, and knowing the disadvantage of violet the traffic law and being selfish on the road which make you stuck on the road.

Source: Veyhong

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Angkor Times
Angkor TimesExperienced
Asked: June 20, 2021In: Money

Why Video Is Exploding on Facebook in Cambodia?

Since Facebook becomes the most popular social media in Cambodia, it also becomes the most popular communication tool for daily conversations among Cambodian people. Cambodian people use Facebook to connect and communicate with their communities and customers, as well as ...Read more

Since Facebook becomes the most popular social media in Cambodia, it also becomes the most popular communication tool for daily conversations among Cambodian people. Cambodian people use Facebook to connect and communicate with their communities and customers, as well as friends. Youth in Cambodia (under age thirty) make up 65.3% of Cambodia’s 14,805,000 people. Twenty-six percent of Cambodians are between the ages of 14 and 30. All of the youth in the country are second and third generation offspring of survivors of the Khmer Rouge, a genocide that occurred from 1975-1979. Source: Wikipedia Here some reasons why Video format is so much popular on Facebook in Cambodia.

The growth of internet infrastructure

While internet connection or internet penetration in Cambodia is getting easier than every before, everyone who own a smart phone can access Facebook to consume information and communications among their networks. Top telco companies such as Smart, Metfone, and Cellcard have been expanding their internet service coverage to even remote areas throughout the kingdom which allows Cambodians using internet even easier.

The growth of mobile phone usage and Convenience

Affordable mobile phones which are the big players in Cambodia market, known as Samsung, VIVO, OPPO, RealMe, and many other smartphone brands enter Cambodia which allow small and medium income households can afford to pay for buying smartphones which they can use all day long to access Facebook. Most of Cambodian people own at least a smartphone rather than a desktop or PC, that is why video content on Facebook is really the ultimate format for Cambodian people ton consume content on Facebook.

The trend of watching rather than reading

It seems like everyone on the planet likes watching videos then reading books or information online since the smartphone era has entered the human being civilization.  People like to spend hour watching movies or watching educational tutorials, but they don’t like spend 10 minutes to ready a story.

Lack of time

Everyone has a lot of things to taking care off. It seems like 24h a day is just not enough for them anymore. They like to watch short videos to learn things fast rather then 30 pages a days to learn a thing.

 

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Angkor Times
Angkor TimesExperienced
Asked: June 13, 2021

How Can I Start a Dropshipping Business in Cambodia?

Learning how to start a dropshipping business, as with any type of venture, isn’t easy. Nevertheless, it’s a great first step into the world of entrepreneurship. You can sell to customers without holding any inventory. You don’t need to pay ...Read more

Learning how to start a dropshipping business, as with any type of venture, isn’t easy. Nevertheless, it’s a great first step into the world of entrepreneurship. You can sell to customers without holding any inventory. You don’t need to pay for products upfront. And if you’re serious about your new venture, you can build a sustainable source of income in the long run.

Starting a dropshipping business can be highly competitive. Because you can start a dropshipping business for free, you may face a lot of companies who are selling a specific product at similar prices.

Some are mandatory from the outset, while others are just a good idea, but dealing with them up front will save you time and headaches down the road.

  1. Choose a niche.
  2. Perform competitor product research.
  3. Find a reputable dropshipping supplier.
  4. Build your online store.
  5. Market your dropshipping business.
  6. Analyze and improve your store.
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Angkor Times
Angkor TimesExperienced
Asked: June 12, 2021In: Money

What are the 7 major taxes in Cambodia?

The payment of taxes is the obligation of every citizen or relevant institution to the state to contribute to the protection and development of the motherland. This is the most equitable social contract. This tax is levied on the price ...Read more

The payment of taxes is the obligation of every citizen or relevant institution to the state to contribute to the protection and development of the motherland. This is the most equitable social contract. This tax is levied on the price of goods or services and the taxpayer is the end user. Taxes and duties are different in that “taxes” refer to the obligations of citizens and all economic components to be paid in cash or in kind to the state in accordance with the law # directly or # through the tax agency. In particular, “tax” refers to the obligation of citizens and all economic components to pay cash or goods to the state in accordance with the law # indirectly through the use of goods or services. Therefore, the tax can also be called an indirect tax.
According to the article published by the Traju School Law Association in 2017, we have studied and prepared to know that there are 18 types of taxes in Cambodia, including:

1. Tax on Profit

This tax is levied on resident taxpayers (persons living on Cambodian territory) for Cambodian and foreign source income. For non-resident taxpayers (foreigners in Cambodia, but in the case of non-residents living in Cambodia for more than 182 days will become residents), the income tax is limited to the Cambodian source income. Taxable profit is net profit. From all the results of all types of business operations, including capital gains achieved during the course of business or at the end of the business, as well as income from financial assets or investment assets, interest, fees and royalties. Taxable profit also includes all capital gains on real estate, financial assets or investment assets that are earned from operations other than business operations. We can know in detail the annual income tax rate according to Article 20 of the tax law.

2. Prepayment of Profit Tax

All enterprises that are taxed on real profits, including qualified investment projects, are taxed at a profit rate of 9% and are required to pay a monthly tax deduction. Profit at the rate of 1% of turnover including all taxes, excluding value added tax achieved in the previous month. The redemption will be deducted from the income tax at the time of the annual payment.

3. Minimum Tax

This tax is paid by the taxpayer under the self-declaration regime, except for qualified investment projects at the rate of 1% of annual turnover, including taxes, excluding value added tax. This tax is paid at the time of payment of the annual income tax and may also be deducted from the annual income tax.

4. Withholding Tax

Withholding tax refers to the tax levied by a resident taxpayer on certain payments made in cash or in kind to resident and non-resident taxpayers. All businesses must collect withholding tax. Withholding tax collected from royalties on intangible assets, royalties derived from a share in mineral resources, non-bank and non-bank interest income, both fixed and indefinite, is paid to the General Department of Taxation.

5. Payroll Tax

This tax is a monthly tax determined on the salary that a natural person receives within the framework of performing business activities. Natural persons, residents in the Kingdom of Cambodia are subject to payroll tax on salaries of Cambodian sources and salaries of foreign sources. Non-residents are subject to payroll tax on salaries of Cambodian origin. The enterprise, which is the employer, is obliged to withhold the payroll tax before paying the salaries to the employees and pay this tax to the tax administration no later than the 15th day of the month following the month in which the payroll is paid.

Salary tax is deducted at the rate of 20% of the amount due before deduction. This withholding tax is the final payroll tax for non-resident salaried recipients. For monthly benefits, the enterprise deducts and pays tax at the rate of 20% of the total value of the benefits provided to all employees. Value added benefits are the market value including all taxes.

6. Value added Tax (VAT)

Value added tax is a tax that is added to the original value of a taxable product or service and is determined by the end user’s purchase costs. This tax is collected from business operations and imports.

Formulas of value added tax without import duty = (customs duty + import duty) x 10% (for general goods not subject to special tax) / = (customs duty + import tax + special tax) x 10% (For general merchandise)

7. Special Tax on Certain Merchandise and Services

Refers to the following special tax rates on certain products and services.
• 3% for local and international calls
• 5% for cement
• 10% off airfare, entertainment services, non-alcoholic beverages and motor oil, brake fluid and raw materials to produce motor oil
• 20% for cigarettes
• 30% off beer
• 35% for alcohol

The reason why cigarettes, beer and wine are taxed at a higher rate than other goods and services is because these three products have a significant impact on consumers. Special tax is calculated on the form of the sum of the customs duty and import duty as expressions multiplied by the rate.

What are the 7 major taxes in Cambodia?

What are the 7 major taxes in Cambodia?

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