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Kinstellar Southeast Asia Cambodia, 33AF, GIA Tower, Koh Pich, Phnom Penh (2026)

18/09/2026

𝗪𝗶𝗻𝗻𝗶𝗻𝗴 𝗮𝗻 𝗔𝗿𝗯𝗶𝘁𝗿𝗮𝘁𝗶𝗼𝗻 𝗜𝘀 𝗡𝗼𝘁 𝘁𝗵𝗲 𝗦𝗮𝗺𝗲 𝗮𝘀 𝗚𝗲𝘁𝘁𝗶𝗻𝗴 𝗣𝗮𝗶𝗱

Even after obtaining a final and binding arbitral award, the successful party may need to take additional steps before it can enforce the award against assets in Cambodia. Before enforcement measures can proceed, the award creditor must first obtain recognition of the award and a title of ex*****on from the Cambodian courts. Cambodia's legal framework provides a pathway for the recognition and enforcement of foreign arbitral awards, but successful enforcement depends on careful preparation and a thorough understanding of the applicable procedures.

This publication examines:
• Recognition and enforcement of foreign arbitral awards in Cambodia
• Key procedural requirements and supporting documentation
• Limited grounds for resisting enforcement
• Practical considerations relating to timing, strategy, and asset recovery

For more information, please contact:

→ Eszter Papp, Head of Disputes
[email protected]

→ Linna Seangly, Senior Associate, Disputes
[email protected]

Visit our website to stay updated on legal developments in Cambodia and Vietnam: www.kinstellarsea.com

16/09/2026

Strengthening Our Cambodia Team: Kinstellar Southeast Asia Congratulates Daron Wong on His Promotion to Partner and Welcomes Sinath Un as New Partner.

Kinstellar Southeast Asia, in association with Sok Siphana Sethalay Law Office, is delighted to announce two Partner appointments in Cambodia.

Daron Wong has been promoted to Partner, recognising his instrumental role in establishing and leading our International Finance practice in Cambodia.

Daron heads the firm’s International Finance practice, with a focus on project finance, banking, infrastructure and cross-border transactions. He has advised lenders, sponsors and developers on many of Cambodia’s most significant energy, infrastructure and real estate projects.

Daron holds a Bachelor of Laws (Hons) from the University of London and is admitted to the High Court of Malaya.

Sinath Un joins the firm as Partner, bringing more than 18 years of experience advising on project finance, mergers and acquisitions, banking transactions, and capital markets matters. He advises a broad spectrum of domestic and international clients, including banks, payment service providers, fintech companies, project sponsors, investment funds, development agencies and international organisations. Beyond his client work, he has contributed to the development of Cambodia's regulatory framework through his involvement in the drafting and review of securities laws and regulations.

Sinath is a qualified Cambodian lawyer admitted to the Bar Association of the Kingdom of Cambodia. He holds a Master of Business Law (Droit des Affaires) from the University Jean Moulin Lyon 3, France.

"Daron’s promotion to Partner is thoroughly deserved. He has built one of the leading international finance practices in Cambodia and has been instrumental in bringing many of the country’s landmark project financings to successful completion. Sinath is a highly respected figure in Cambodia’s banking and finance community, and his extensive experience in project finance and capital markets further strengthens our team and enhances our offering to clients across Cambodia and Southeast Asia," said Vanseka Sok, Managing Partner of Sok Siphana Sethalay Law Office.

"Daron’s promotion and Sinath’s arrival underscore our continued commitment to building out a truly regional platform for our clients in Cambodia and Vietnam, and across Southeast Asia. Daron’s journey to Partnership, and Sinath’s decision to join us as Partner, both reflect the long-term commitment, technical excellence, and client focus that Kinstellar Southeast Asia is built on," said Roman Hamala, International Partner, Kinstellar Southeast Asia (Cambodia).

Learn more about our team and practice areas on our website: www.kinstellarsea.com.

10/09/2026

𝗖𝗮𝗺𝗯𝗼𝗱𝗶𝗮 𝗜𝗻𝘁𝗿𝗼𝗱𝘂𝗰𝗲𝘀 𝗧𝗮𝘅 𝗥𝗲𝗹𝗶𝗲𝗳 𝗠𝗲𝗮𝘀𝘂𝗿𝗲𝘀 𝗳𝗼𝗿 𝗜𝗺𝗺𝗼𝘃𝗮𝗯𝗹𝗲 𝗣𝗿𝗼𝗽𝗲𝗿𝘁𝘆 𝗧𝗿𝗮𝗻𝘀𝗳𝗲𝗿𝘀

Following the announcement of the Prime Minister of Cambodia on 28 July 2026, the Ministry of Economy and Finance issued Notification No. 008 on Principles of Tax Exemption and Relief on the Transfer of Ownership or Possessory Rights Over Immovable Property to formalise the implementation of the announced tax relief measures.

The Notification introduces a number of measures aimed at easing the tax burden associated with immovable property transactions, including the suspension of stamp duty tax late payment penalties and the extension of relief for properties that have undergone multiple successive transfers without cadastral registration.

This publication examines:
▸ Suspension of late payment penalties on stamp duty tax until the end of 2027
▸ Stamp duty tax payable only on the last transfer of certain unregistered immovable properties
▸ Payment of stamp duty tax and immovable property tax based on the latest construction or building
▸ Stamp duty tax exemption for frontline armed forces and national police
▸ Conditions, scope and limitations of the available tax relief measures

For more information, please contact:

→ Vanseka Sok, Managing Partner, Sok Siphana Sethalay Law Office
[email protected]

→ Roman Hamala, International Partner, Kinstellar Southeast Asia
[email protected]

Visit our website to stay updated on legal developments in Cambodia and Vietnam: www.kinstellarsea.com

31/08/2026

𝗖𝗮𝗺𝗯𝗼𝗱𝗶𝗮 𝗠𝗼𝗱𝗲𝗿𝗻𝗶𝘀𝗲𝘀 𝗜𝘁𝘀 𝗖𝗶𝘃𝗶𝗹 𝗔𝘃𝗶𝗮𝘁𝗶𝗼𝗻 𝗙𝗿𝗮𝗺𝗲𝘄𝗼𝗿𝗸

On 20 January 2026, the King promulgated Law No. NS/RKM/0126/001 on Civil Aviation of the Kingdom of Cambodia, amending Law No. NS/RKM/0108/003 on Civil Aviation of the Kingdom of Cambodia dated 19 January 2008. The new Law consolidates the powers of the State Secretariat of Civil Aviation and restates the certification and licensing regime across the sector.

Two areas will be new for many businesses: an express authorisation requirement for unmanned aircraft and aerial work, including aerial photography and survey activity, and environmental obligations covering aircraft noise, emissions and CORSIA carbon reporting.

Much of the operative detail will sit in the Civil Aviation Technical Regulations to be issued by Prakas, so operators should monitor their publication closely.

This publication examines:
▸ Authority and rule-making powers of the SSCA
▸ Civil aviation inspection, security directives and search and rescue
▸ Requirements for aircraft, personnel, operations and air navigation
▸ Aerodrome ownership, licensing and classification
▸ Unmanned aircraft and aerial work authorisation
▸ Air Operator Certificates and air transport operations
▸ Liability, insurance, environmental compliance and CORSIA
▸ Administrative and criminal penalties, up to KHR 2 billion

For more information, please contact:

→ Vanseka Sok, Managing Partner, Sok Siphana Sethalay Law Office
[email protected]

→ Roman Hamala, International Partner, Kinstellar Southeast Asia
[email protected]

Visit our website to stay updated on legal developments in Cambodia and Vietnam: www.kinstellarsea.com

28/08/2026

𝗖𝗮𝗺𝗯𝗼𝗱𝗶𝗮 𝗜𝗻𝘁𝗿𝗼𝗱𝘂𝗰𝗲𝘀 𝗮 𝗗𝗲𝗱𝗶𝗰𝗮𝘁𝗲𝗱 𝗖𝗿𝗶𝗺𝗶𝗻𝗮𝗹 𝗙𝗿𝗮𝗺𝗲𝘄𝗼𝗿𝗸 𝗳𝗼𝗿 𝗢𝗻𝗹𝗶𝗻𝗲 𝗦𝗰𝗮𝗺𝘀

The Royal Government of Cambodia has promulgated the Law on Combating Online Scams, creating specific criminal offences for online scams and technology-enabled fraud. The Law entered into force immediately upon promulgation.

It matters for technology platforms, payment providers, telecommunications operators, property owners leasing commercial premises, and any business that collects customer identity documents. For the first time, legal entities face criminal liability for scam-related conduct, with fines of up to KHR 30 billion.

Our team has reviewed the new framework and its practical implications for businesses operating in Cambodia.

This publication examines:
▸ Scope of application, including extraterritorial reach over cross-border scam activity
▸ The five key offences: online scams, organising scam centres, recruitment and training, misuse of personal data, and related money laundering
▸ Penalties for individuals, ranging up to life imprisonment
▸ Corporate criminal liability and fines of up to KHR 30 billion
▸ Expanded investigative powers, including asset freezing and extended police custody
▸ Exemptions, mitigation and the self-disclosure route
▸ International cooperation, extradition and asset recovery

For more information, please contact:

→ Vanseka Sok, Managing Partner, Sok Siphana Sethalay Law Office
[email protected]

→ Roman Hamala, International Partner, Kinstellar Southeast Asia
[email protected]

Visit our website to stay updated on legal developments in Cambodia and Vietnam: www.kinstellarsea.com

27/08/2026

𝗣𝗿𝗮𝗸𝗮𝘀 𝟱𝟴𝟰: 𝗪𝗵𝗼 𝗖𝗮𝗿𝗿𝗶𝗲𝘀 𝘁𝗵𝗲 𝗧𝗮𝘅 𝗟𝗶𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗼𝗻 𝗮 𝗖𝗮𝗺𝗯𝗼𝗱𝗶𝗮𝗻 𝗗𝗲𝗮𝗹?

The Ministry of Economy and Finance has issued Prakas 584 on Tax Liabilities for Business, Share Transfer or Merger, clarifying how tax liabilities are allocated between transferor and transferee in the context of business transfers, share transfers and mergers.

For sole proprietorships and partnerships, one fact decides the outcome: whether the transferor requested the General Department of Taxation to clear its tax liabilities. For private and public limited companies, two facts matter: whether the transferor requested such clearance and whether it ceased or continued its business operations after the transfer. For a buyer, that can mean the difference between assuming tax liabilities up to the transfer date and assuming only liabilities arising after the transfer date.

Notification and a tax information update are each required within 15 working days. Meeting that deadline also preserves the exemption from 10% VAT on a business transfer.

This publication examines:
▸ Notification and tax update deadlines, and when the clock starts
▸ Allocation of liability on a business transfer for sole proprietorships and partnerships
▸ Allocation of liability for private and public limited companies
▸ The effect of ceasing, or continuing, business operations after transfer
▸ Share transfers, increases and decreases, and proportionate liability
▸ Mergers and the position of the surviving or newly created entity
▸ The 10% VAT exemption and how it is lost

For more information, please contact:

→ Vanseka Sok, Managing Partner, Sok Siphana Sethalay Law Office
[email protected]

→ Roman Hamala, International Partner, Kinstellar Southeast Asia
[email protected]

Visit our website to stay updated on legal developments in Cambodia and Vietnam: www.kinstellarsea.com

18/08/2026

𝗩𝗮𝗹𝗶𝗱𝗶𝘁𝘆 𝗮𝗻𝗱 𝗘𝗻𝗳𝗼𝗿𝗰𝗲𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗼𝗳 𝗘𝗹𝗲𝗰𝘁𝗿𝗼𝗻𝗶𝗰 𝗮𝗻𝗱 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗦𝗶𝗴𝗻𝗮𝘁𝘂𝗿𝗲𝘀

Digitalisation is reshaping how businesses and government agencies transact in Cambodia. Electronic and digital signatures are central to that shift, and their legal status is becoming increasingly important for banking, finance, and cross-border transactions.

Cambodian law recognises electronic signatures where they identify the signatory, reflect the signatory’s approval, and meet the applicable reliability requirements. Digital signatures are a distinct category requiring a certificate from a licensed certification authority, with additional requirements applying in the financial sector under the National Bank of Cambodia’s Technology and Cyber Risk Management Guidelines.

Our team was pleased to contribute a legal update examining the framework under the E-Commerce Law, Sub-Decree No. 246 on Digital Signatures, and applicable cybersecurity requirements. The update examines:

▸ Recognition standards for electronic and digital signatures

▸ Certification and licensing requirements for digital signature authorities

▸ Two-factor authentication, OTP, and cryptographic controls applicable to digital financial services

▸ Statutory exclusions covering powers of attorney, wills and succession, and immovable property transactions

▸ The current lack of specific regulation regarding data residency and cloud-based electronic signatures

▸ Practical adoption trends, including continued reliance on handwritten signatures and thumbprints in court proceedings

For more information, please contact:

→ Vanseka Sok, Managing Partner
Sok Siphana Sethalay Law Office
[email protected]

→ Roman Hamala, International Partner
Kinstellar Southeast Asia
[email protected]

Visit our website to stay updated on legal developments in Vietnam and Cambodia: www.kinstellarsea.com

14/08/2026

𝗡𝗲𝘄 𝗢𝗯𝗹𝗶𝗴𝗮𝘁𝗶𝗼𝗻𝘀 𝗳𝗼𝗿 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗢𝗽𝗲𝗿𝗮𝘁𝗼𝗿𝘀 𝗜𝘀𝘀𝘂𝗶𝗻𝗴 𝗘𝗹𝗲𝗰𝘁𝗿𝗼𝗻𝗶𝗰 𝗠𝗼𝗻𝗲𝘆

The National Bank of Cambodia has issued a notice clarifying when e-wallet accounts, mobile applications, and membership cards used to accept payments constitute regulated electronic money in Cambodia. The notice matters for cafés, restaurants, transport operators, entertainment venues, petrol stations, and any other business accepting prepaid balances from customers.

Business operators that are not licensed banking or financial institutions may be exempt from licensing, provided strict balance limits and other conditions are met, and written notification must be submitted to the NBC within 90 days, i.e., by 21 September 2026.

Our team was pleased to advise on the regulatory framework under the Law on Banking and Financial Institutions and the Prakas on the Management of Payment Service Institutions. This Client Alert examines:

▸ Scope of application to business operators issuing Single-Purpose E-money

▸ Regulatory framework under the Law on Banking and Financial Institutions and the Prakas

▸ Exemption conditions, including account and aggregate balance limits

▸ Notification obligations and the 90-day deadline of 21 September 2026

▸ Consequences of non-compliance and customer protection considerations

▸ Practical next steps for business operators to assess compliance

For more information, please contact:

→ Vanseka Sok, Managing Partner
Sok Siphana Sethalay Law Office
[email protected]

→ Roman Hamala, International Partner
Kinstellar Southeast Asia
[email protected]

Visit our website to stay updated on legal developments in Vietnam and Cambodia: www.kinstellarsea.com

14/08/2026

𝗦𝗼𝗸 𝗦𝗶𝗽𝗵𝗮𝗻𝗮 𝗦𝗲𝘁𝗵𝗮𝗹𝗮𝘆 𝗟𝗲𝗴𝗮𝗹 𝗨𝗽𝗱𝗮𝘁𝗲 – 𝗣𝗿𝗮𝗸𝗮𝘀 𝗡𝗼. 𝟬𝟰𝟬 𝗱𝗮𝘁𝗲𝗱 𝟭𝟮 𝗠𝗮𝘆 𝟮𝟬𝟮𝟲 𝗼𝗻 𝘁𝗵𝗲 𝗔𝘂𝘁𝗵𝗼𝗿𝗶𝘀𝗮𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝗦𝘂𝗽𝗲𝗿𝘃𝗶𝘀𝗶𝗼𝗻 𝗼𝗳 𝗦𝗲𝗰𝘂𝗿𝗶𝘁𝗶𝗲𝘀 𝗜𝗻𝘁𝗿𝗼𝗱𝘂𝗰𝗶𝗻𝗴 𝗔𝗴𝗲𝗻𝘁𝘀

On 12 May 2026, the Securities and Exchange Regulator of Cambodia (“SERC”) issued Prakas No. 040 on the Authorisation and Supervision of Securities Introducing Agents (“Prakas No. 040”), establishing a comprehensive regulatory framework governing the authorisation, supervision, and conduct of Securities Introducing Agents (“SIAs”) in Cambodia’s securities sector. The Prakas introduces a dedicated licensing regime for both natural persons and legal entities acting as SIAs and imposes compliance, reporting, and supervisory obligations on the securities firms and other licensed financial institutions that appoint them (“Parent Companies”). The framework is intended to strengthen investor protection by ensuring that securities introduction activities are carried out only by qualified and duly authorised persons under SERC supervision.

🗝️ Key points:

✅ No individual or entity may act or hold themselves out as a Securities Introducing Agent without obtaining a valid permit from the SERC. The Prakas applies to securities introducing activities within Cambodia’s securities sector, excluding activities related to the issuance of securities.

✅ Both legal entities and natural persons may apply for authorisation, subject to prescribed eligibility requirements. Legal entities must maintain appropriate governance, compliance, and internal control frameworks, while natural persons must satisfy fit and proper criteria, complete SERC-approved training and examinations, and comply with continuing professional education requirements.

✅ Licensed SIAs may introduce and refer clients to Parent Companies, promote securities products and services through approved channels, disseminate approved securities-related information, and provide ancillary client support services permitted by the SERC.

✅ SIAs are expressly prohibited from performing regulated securities intermediary functions, including providing investment or securities advice, conducting suitability assessments, opening securities trading accounts, receiving or transmitting client orders, executing securities transactions, or handling client funds or assets.

✅ Parent Companies must maintain records of appointed agents, submit monthly updates to the SERC, implement appropriate supervision and compliance frameworks, provide annual training, and assume responsibility for the conduct of their appointed agents in connection with introducing activities.

✅ SIA permits are valid for two (2) years, while renewed permits are valid for three (3) years. Renewal applications must be submitted at least thirty (30) days before expiry.

⚠️ Violations may result in monetary fines of up to KHR 50,000,000 for natural persons and KHR 200,000,000 for legal entities, in addition to warnings, restrictions, suspension, or revocation of permits. Repeated violations may attract double penalties.

📩 For any questions or inquiries, please contact us at [email protected] or visit our website at www.kinstellarsea.com to stay updated on legal developments in Cambodia and Vietnam.

13/08/2026

Private international law in Cambodia is the subject of a newly published entry, "Cambodia: Private International Law", in the Elgar Encyclopedia of Asian Law, co-authored by Eszter Papp, Head of Disputes, and Linna Seangly, Senior Associate at Kinstellar Southeast Asia.

The entry provides a concise overview of Cambodia's private international law framework, highlighting that, in the absence of a standalone private international law code, the relevant rules are found principally in the Cambodian Code of Civil Procedure, including provisions on jurisdiction, governing law, service of process, taking of evidence abroad, and the recognition and enforcement of foreign judgments.

The entry is available online through Edward Elgar Publishing at: https://www.elgaronline.com/display/book/9781035325436/book-9781035325436-cpil.xml

📩 For any questions or inquiries, please contact us at [email protected], or visit our website at www.kinstellarsea.com to stay updated on legal developments in Cambodia and Vietnam.

Kinstellar Southeast Asia Cambodia

18/09/2026

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Monday	09:00 - 17:00
Tuesday	09:00 - 17:00
Wednesday	09:00 - 17:00
Thursday	09:00 - 17:00
Friday	09:00 - 17:00