Starting a legal business in Cambodia requires 11 procedures and 104 days.
Compare that with the easiest country in the world to begin a business- New Zealand- which has only 1 hoop for entrepreneurs to jump through and if you begin the process in the morning you can be finished by lunch.
The cost of incorporating a business in New Zealand is only 0.3 (as a % of income per capita *) and the paid in capital requirement (as a % of income per capita**) is zero.
Compare that to Cambodia where the cost of incorporation is a whopping 150.6% of income per capita and the paid in capita requirement is set at 27.5%.
After putting in place 2 more steps for starting a business last year, Cambodia's world ranking for the 'Ease of Starting a Business' fell this year to 184th out of the 189 countries ranked.
*Cost is recorded as a percentage of the economy’s income per capita. It includes all official fees and fees for legal or professional services if such services are required by law. Costs in Cambodia will be much higher than this as 'unofficial' fees are collected at every step.
**The amount that the entrepreneur needs to deposit in a bank or with a notary before registration and up to 3 months following incorporation and is recorded as a percentage of the economy’s income per capita.
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