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Sub-Decree No. 114 ANKr.BK on Trust Registration dated 02 August 2019 (“Sub-Decree No. 114”) was issued on 2 August 2019.
Sub-Decree No. 114 provides for the implementation of the rules and procedures of the Trust Law.
The registration process shall be administered by the MEF and regular timeframe for registration will take 30 days. Trust shall be created by a written letter adhering to the following form and content:
Sub-Decree No. 114 lists documents (e.g. the trust instrument, the trustee’s compliance documents, the insurance policy) which must be submitted along with the application for the registration of the trust.
To register trusts, the Trustee shall pay all registration fees set out in Prakas No. 854 dated 30 September 2019 (“Prakas 854”). Based on Prakas 854, there are two types of fees: the trust registration fee, namely the administrative fee, and the annual fee.
For a Commercial Trust , annual administrative and certificate fees based on trust fund balance size are as follows:
| Nº | Trust Fund Size | Administrative Fee | Certificate Fee |
| 1 | Under 400,000,000 Riels | 40,000 Riels | 300,000 Riels |
| (Approx. <US$ 100,000) | (Approx. US$ 10) | (US$ 75) | |
| 2 | From 400,000,000 Riels to 2,000,000,000 Riels | 200,000 Riels | 500,000 Riels |
| (Approx. US$ 100,000 to US$ 500,000) | (Approx. US$ 50) | (Approx. US$ 125) | |
| 3 | More than 2,000,000,000 Riels to 4,000,000,000 Riels | 400,000 Riels | 600,000 Riels |
| (Approx. >US$ 500,000 to US$ 1,000,000) | (Approx. US$ 100) | (Approx. US$ 150) | |
| 4 | More than 4,000,000,000 Riels to 20,000,000,000 Riels | 400,000 Riels | 800,000 Riels |
| (Approx. >US$ 1,000,000 to US$ 5,000,000) | (Approx. US$ 100) | (Approx. US$ 200) | |
| 5 | More than 20,000,000,000 Riels to 40,000,000,000 Riels | 2,000,000 Riels | 800,000 Riels |
| (Approx. >US$ 5,000,000 to US$ 10,000,000) | (Approx. US$ 500) | (Approx. US$ 200) | |
| 6 | More than 40,000,000,000 Riels to 80,000,000,000 Riels | 4,000,000 Riels | 2,400,000 Riels |
| (Approx. >US$ 10,000,000 to US$ 20,000,000) | (Approx. US$ 1,000) | (Approx. US$ 600) | |
| 7 | More than 80,000,000,000 Riels | 8,000,000 Riels | 3,000,000 Riels |
| (Approx. >US$ 20,000,000) | (Approx. US$ 2,000) | (Approx. US$ 750) |
For a Public Trust or Social Trust, annual administrative and certificate fees based on trust fund balance size are as follows:
| Nº | Trust Fund Size | Administrative Fee | Certificate Fee |
| 1 | Under 400,000,000 Riels | 40,000 Riels | 200,000 Riels |
| (Approx. <US$ 100,000) | (Approx. US$ 10) | (Approx. US$ 50) | |
| 2 | From 400,000,000 Riels to 2,000,000,000 Riels | 120,000 Riels | 300,000 Riels |
| (Approx. US$ 100,000 to US$ 500,000) | (Approx. US$ 30) | (Approx. US$ 75) | |
| 3 | More than 2,000,000,000 Riels to 4,000,000,000 Riels | 200,000 Riels | 400,000 Riels |
| (Approx. >US$ 500,000 to US$ 1,000,000) | (Approx. US$ 50) | (Approx. US$ 100) | |
| 4 | More than 4,000,000,000 Riels to 20,000,000,000 Riels | 600,000 Riels | 600,000 Riels |
| (Approx. >US$ 1,000,000 to US$ 5,000,000) | (Approx. US$ 150) | (Approx. US$ 150) | |
| 5 | More than 20,000,000,000 Riels to 40,000,000,000 Riels | 1,000,000 Riels | 1,000,000 Riels |
| (Approx. >US$ 5,000,000 to US$ 10,000,000) | (Approx. US$ 250) | (Approx. US$ 250) | |
| 6 | More than 40,000,000,000 Riels to 80,000,000,000 Riels | 1,500,000 Riels | 2,000,000 Riels |
| (Approx. >US$ 10,000,000 to US$ 20,000,000) | (Approx. US$ 375) | (Approx. US$ 500) | |
| 7 | More than 80,000,000,000 Riels | 2,000,000 Riels | 3,000,000 Riels |
| (Approx. >US$ 20,000,000) | (Approx.US$ 500) | (Approx. US$ 750) |
For a Private/Individual Trust, annual administrative and certificate fees based on trust fund balance size are as follows:
| Nº | Trust Fund Size | Administrative Fee | Certificate Fee |
| 1 | Under 400,000,000 Riels | 40,000 Riels | 200,000 Riels |
| (Approx. <US$ 100,000) | (Approx. US$ 10) | (Approx. US$ 50) | |
| 2 | From 400,000,000 Riels to 2,000,000,000 Riels | 120,000 Riels | 300,000 Riels |
| (Approx. US$ 100,000 to US$ 500,000) | (Approx. US$ 30) | (Approx. US$ 75) | |
| 3 | More than 2,000,000,000 Riels to 4,000,000,000 Riels | 200,000 Riels | 400,000 Riels |
| (Approx. >US$ 500,000 to US$ 1,000,000) | (Approx. US$ 50) | (Approx. US$ 100) | |
| 4 | More than 4,000,000,000 Riels to 20,000,000,000 Riels | 400,000 Riels | 600,000 Riels |
| (Approx. >US$ 1,000,000 to US$ 5,000,000) | (Approx. US$ 100) | (Approx. US$ 150) | |
| 5 | More than 20,000,000,000 Riels to 40,000,000,000 Riels | 1,000,000 Riels | 1,200,000 Riels |
| (Approx. >US$ 5,000,000 to US$ 10,000,000) | (Approx. US$ 250) | (Approx. US$ 300) | |
| 6 | More than 40,000,000,000 Riels to 80,000,000,000 Riels | 1,600,000 Riels | 1,600,000 Riels |
| (Approx. >US$ 10,000,000 to US$ 20,000,000) | (Approx. US$ 400) | (Approx. US$ 400) | |
| 7 | More than 80,000,000,000 Riels | 2,000,000 Riels | 2,000,000 Riels |
| (Approx. >US$ 20,000,000) | (Approx. US$ 500) | (Approx. US$ 500) |
Advance Grand Formula Co., Ltd is licensed audit firm from Accounting and Auditing Regulator (ACAR Decision N0. 014), member audit firm of Kampuchea Institute of Certified Public Accountants and Auditors (license number C-00085) and tax agent from General Department of Taxation (license number TA202204002).
This Publication is intended for general guidance only and should not form the basic of specific decisions.
Should you need any further information or support, please contact us at: accounting@advancegroupkh.com (accounting), audit@advancegroupkh.com (audit), tax@advancegroupkh.com (tax) and number and telegram 085 36 8888 and 070 399 888.
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