The Law on Amendment to the Law on Commercial Enterprise was enforced on 29th January 2022.

In the amendment law, Article 166, 175, 182, 183, 184, 185, 186, 187, 188, 189, 190 and 196 of the Law on Commercial Enterprise are deleted, Article 166, 175, 182, 183, 184, 185, 186, 187, 188, 189, 190 and 196 thereof are amended and Article 8-2, 53-2 and 147-2 are added.

We set out below the key amendments to the amendment law.

– Addition of “Sole Proprietorship” to the definition of “Merchant”

– Appointment of “Company Secretary” (which has to be a permanent resident of Cambodia)

– Removal of minimum number of shares requirement

– Qualification and duties of “Liquidator”

– Addition of provisions about “Local Branch”