QIP Investor Temporary Long-Term Stay

"Qualified Investment Project" abbreviated as "QIP" refers to an investment project that has received a registration certificate from the Council for the Development of Cambodia or a Municipal-Provincial Investment Sub-Committee.

“Investor" refers to a person carrying out an investment project registered with the Council for the Development of Cambodia or a Municipal-Provincial Investment Sub-Committee. "Investment Activity" refers to a business activity in the Kingdom of Cambodia that is established, acquired, sold, transferred, expanded or merged and authorized in writing by the institution in charge in accordance with the laws and regulations in force. "Investment Project Application" refers to an application submitted by a person to the Council for the Development of Cambodia or a Municipal-Provincial Investment Sub-Committee for establishing a QIP and a GIP. This application may include one or more phases, including a QIP expansion application. "Production Equipment" refers to heavy machinery, machine tools and other equipment used substantially in the production chain, except motor vehicles. The import of motor vehicles for investment activities or projects in any sector will receive specific incentives to be stipulated in the Law on Financial Management or the Sub-Decree. "Construction Material" refers to construction items wholly converted or used in construction including the Construction Equipment of a QIP used to carry out its investment activities in the initial construction phase or expansion. Construction Material, Construction Equipment and Production Equipment as stated in this Article shall meet technical standards and quantities relevant to the Investment Project. "Applicant" refers to a person who applies for registration of an investment project with the Council for the Development of Cambodia or a Municipal -Provincial Investment Sub-Committee. "Sub-Decree" refers to the Sub-Decree on the Implementation of the Law on Investment of the Kingdom of Cambodia. Unofficial translation by the CDC 2 CHAPTER 2 THE COUNCIL FOR THE DEVELOPMENT OF CAMBODIA Article 4: The Council for the Development of Cambodia abbreviated as “CDC” shall be established as an executive body acting as the “Etat-Major” and One-Stop Service of the Royal Government of Cambodia responsible for overseeing and managing development cooperation, private investment, and special economic zones. Article 5: The CDC is chaired by the Prime Minister and includes one or several vice-chairpersons and members as necessary. To ensure effective implementation of the missions stipulated in Article 4 of this Law, the Prime Minister may at his sole discretion delegate his authority to a member of the Royal Government or CDC management to undertake his duties to a certain extent or in any activities of the CDC. Such delegation includes management and use of budget and human resources in compliance with the laws and regulations in force. The appointment of the members of the CDC shall be made by Royal Decree. Article 6: The CDC has the following organizational structure: - General Secretariat of the CDC; - Cambodian Cooperation Development Board abbreviated as “CCDB”; and - Cambodian Investment Board abbreviated as “CIB”; The General Secretariats of the CDC, CCDB, and CIB shall each be led by one Secretary General assisted by Deputy Secretaries General as deemed necessary. The CDC may establish additional structures or mechanisms by the Sub-Decree as deemed necessary. Article 7: The CDC has its separate budget under the national budget, and civil servants and employees under contract in compliance with laws and regulations in force. Article 8: The organization and functioning of the CDC shall be determined by Royal Decree. CHAPTER 3 INVESTMENT MECHANISM AT MUNICIPAL-PROVINCIAL LEVEL Article 9: To enhance the effectiveness of services rendered to Investors, the review and approval of private investments and settlement of disputes related to investment projects shall be delegated to municipal-provincial administrations in accordance with a decision of the Royal Government to establish Municipal-Provincial Investment Sub-Committees as the “Etat-Major” of the municipal- provincial administrations. Rights, authorities, size of investments, and the organization and functioning of Municipal-Provincial Investment Sub-Committees shall be determined by a separate Sub-Decree. Unofficial translation by the CDC 3 CHAPTER 4 REGISTRATION AND IMPLEMENTATION OF INVESTMENT PROJECTS Article 10: Any person who wishes to implement a QIP, EQIP, or GIP shall submit a written application to the CDC or a Municipal-Provincial Investment Sub-Committee. The Investment Project Application may be made through information technology platforms. Article 11: The Investment Project Application shall be accompanied by information to be specified in the Sub- Decree. Article 12: Upon receipt of the Investment Project Application, the CDC shall review and make a decision on the application through the One-Stop Service mechanism. The One-Stop Service mechanism stipulated in paragraph 1 of this Article is the mechanism for reviewing and deciding on the Investment Project Application by representatives of relevant ministries and institutions seconded to the CDC according to the assignment and delegation of authority from the head of relevant ministries and institutions under the coordination of the CDC. If the proposed Investment Project is not on the Negative List, to be determined separately by the Sub-Decree, the CDC shall issue the Registration Certificate to the Applicant within 20 (twenty) Working Days. The Registration Certificate shall be affixed with a barcode with identification number or QR code or other technology that contains preliminary data related to the registered Investment Project for the benefit of other registrations and the implementation of the Investment Project. Relevant ministries and institutions requiring registrations and conducting compliance reviews of the Investment Project implementation shall not require the Applicants or Investors to provide documentation already included in the barcode with identification number or QR code or other technology affixed to the Registration Certificate issued by the CDC. Article 13: Investment Projects that have obtained a Registration Certificate may be implemented automatically but it does not exempt the Investment Project from obtaining other permits as required by the laws and regulations in force. All Investment Projects shall be subject to monitoring and inspection through the One-Stop Service mechanism coordinated by the CDC to ensure their compliance with the laws and requirements for obtaining the Registration Certificate. The person carrying out an Investment Project shall provide a report on the implementation of the project according to the specific schedule set by the CDC. The detailed format of the report template shall be determined by the CDC’s guidelines. The provision of the report on the implementation of the Investment Project is not a basis for exemption from an on-site inspection if the CDC deems necessary or if there is any complaint from persons who claim to have been affected by the implementation of the Investment Project. Unofficial translation by the CDC 4 Article 14: The procedures for registration of Investment Project with Municipal-Provincial Investment Sub- Committees shall be determined by a separate Sub-Decree. CHAPTER 5 INVESTMENT GUARANTEES AND PROTECTION Article 15: Investors will be treated without discrimination in relation to restitution, compensation or other economic remedies in the event that their investment suffers losses due to armed conflict, civil disturbance or state of emergency provided that there are laws and policies of the Royal Government of Cambodia on any reasonable restitution or compensation. Foreign investors shall not be subject to any discrimination on the basis of foreign nationality, except for land ownership as stipulated in the Constitution of the Kingdom of Cambodia and any other regulations in force. Article 16: The State shall not undertake any nationalization actions which may affect the assets of the Investors in the Kingdom of Cambodia. Article 17: The State shall not undertake any expropriation which may affect, either directly or indirectly, an approved Investment Project or undertake any measures similar to expropriation, except for the purpose of public interest and that such expropriation shall meet the following conditions: 1. Non-discrimination; 2. Fair and just compensation; and 3. Compliance with the laws and procedures in force for expropriation. Article 18: The Royal Government of Cambodia shall not fix the price of products or services created or rendered by the Investment Project. Article 19: In accordance with applicable laws and regulations, the Investors are entitled to freely purchase foreign currencies and to repatriate those foreign currencies to settle financial obligations associated with their investment through authorized intermediary banks. These transfers include: 1. Capital contributions including initial capital contributions; 2. Income, capital gains, dividends, royalties, license fees, management and technical assistance fees, interest and other income from investments; 3. Income from total or partial sale or dissolution of the company implementing the Investment Project; 4. Payment of import and repatriation of both principal and interest of the loan; 5. Payment of compensation in case of civil disturbance, expropriation or confiscation by the State; 6. Payment arising from the settlement of a dispute by any means including court decisions or arbitration awards; and Unofficial translation by the CDC 5 7. Other income and salary of employees. Article 20: Investors' intellectual property is protected in accordance with the laws and regulations related to the intellectual property of the Kingdom of Cambodia. Article 21: Investors' ownership of land for the purpose of implementing Investment Projects is granted only to persons of Cambodian nationality in accordance with the laws and regulations in force. Investors have the right to use land through economic land concessions or perpetual leases or leases for a fixed duration in accordance with the laws and regulations in force. Article 22: A person who is considered as an Investor pursuant to this Law has the following rights: 1. The right to hire foreign employees to manage or operate an Investment Project within a quota not exceeding the number stipulated by the laws and regulations in force in the event that it is not possible to find qualified Cambodian employees to manage or operate the Investment Project. The permission to hire foreign employees is based on current circumstances and is not permanent. 2. The right to obtain a temporary long-term stay permit for oneself, spouse and children who are minors during the period when the Investment Project is operating. 3. The right to request temporary long-term stay permits for foreign employees and their spouses and children who are minors during the valid period of the employment contract. 4. The right to obtain a work permit and employment book for oneself and foreign employees. The CDC or the Municipal-Provincial Investment Sub-Committee shall issue a letter to certify the investment status for the persons involved in the Investment Project at the request of the Investor to be used for applying for a temporary long-term stay permit, work permit, employment book and other necessary purposes in accordance with the procedures in force.

Cambodia or a Municipal-Provincial Investment Sub-Committee recognizing the investment project. “Investor" refers to a person carrying out an investment project registered with the Council for the

Cambodia or a Municipal-Provincial Investment Sub-Committee recognizing the investment project. “Investor" refers to a person carrying out an investment project registered with the Council for the

2. The right to obtain a temporary long-term stay permit for oneself, spouse and children who are minors during the period when the Investment Project is operating. 3. The right to request temporary long-term stay permits for foreign employees and their spouses and children who are minors during the valid period of the employment contract. 4. The right to obtain a work permit and employment book for oneself and foreign employees. The CDC or the Municipal-Provincial Investment Sub-Committee shall issue a letter to certify the investment status for the persons involved in the Investment Project at the request of the Investor to be used for applying for a temporary long-term stay permit, work permit, employment book and other necessary purposes in accordance with the procedures in force. Special procedures for applying for work permits and employment books as stated in this Article shall be set out in the joint Prakas between the CDC and the Ministry in charge of Labor. Formalities and special procedures for applying for a temporary long-term stay permit as stated in this Article shall be determined by a separate Sub-Decree.

2. The right to obtain a temporary long-term stay permit for oneself, spouse and children who are minors during the period when the Investment Project is operating. 3. The right to request temporary long-term stay permits for foreign employees and their spouses and children who are minors during the valid period of the employment contract. 4. The right to obtain a work permit and employment book for oneself and foreign employees.

2. The right to obtain a temporary long-term stay permit for oneself, spouse and children who are minors during the period when the Investment Project is operating. 3. The right to request temporary long-term stay permits for foreign employees and their spouses and children who are minors during the valid period of the employment contract. 4. The right to obtain a work permit and employment book for oneself and foreign employees. The CDC or the Municipal-Provincial Investment Sub-Committee shall issue a letter to certify the investment status for the persons involved in the Investment Project at the request of the Investor to be used for applying for a temporary long-term stay permit, work permit, employment book and other necessary purposes in accordance with the procedures in force. Special procedures for applying for work permits and employment books as stated in this Article shall be set out in the joint Prakas between the CDC and the Ministry in charge of Labor. Formalities and special procedures for applying for a temporary long-term stay permit as stated in this Article shall be determined by a separate Sub-Decree.