A JV is a popular investment vehicle because it combines the international expertise and technology of a foreign company with the specialist local knowledge of its Cambodian partner.

A registered general partnership shall acquire a legal personality and have the following rights:

• to own movable and immovable property in its own name
• to carry on business in its own name
• to contract in its own name to sue and be sued in its own name

In a limited partnership, one or more general partners under a contract are the sole persons authorized to administer and bind the partnership, as well as to contribute to the capital of the partnership. In this type of partnership, each partner is entitled to receive his share of the profits and is liable only to the extent of the sum of money or value of the property he agrees to contribute.

There are no minimum capital requirements with a Cambodia JV, and no minimum requirement on the contribution of foreign investors.

A Cambodia JV is required to have its financial statements audited annually.

For a Cambodian general partnership, all partners are jointly and severally liable for the debts of the partnerships to third parties. The third party shall also seek enforcement of obligations against the partnership and partnership assets prior to seeking enforcement against the partners.

The partnership shares are not transferable or assignable without the consent of all partners.

A Cambodia JV is liable to pay a corporation tax of 28% on all taxable income.