Pawn Business
There are three scales of Pawn Business and Transfer of Title
1- Small Scale
2- Medium Scale
3- Big Scale
Referring to the Declaration No.: 030 MEF on Management of Pawn Business and Transfer of Title dated January 13, 2017, all companies and enterprises who intent to operate the pawn business and transfer of title in Cambodia should be carried out as below:
1- Pawn business and transfer of title for small scale, all companies and enterprises should be submitted to the Provincials-Municipals Department of Economic & Finance for License.
2- Pawn business and transfer of title for medium and big scale, all companies and enterprises should be submitted to the Ministry of Economic & Finance for License.
Bank Deposit
All companies and enterprises should be installed the deposit of the registered capital in Foreign Trade Bank (FTB) or any bank and then the Bank will issue the bank confirmation, and then Company bring this bank confirmation to the Ministry of Economic and Finance (this deposit amount can withdraw at any time). After that the Company will install the deposit in National Bank of Cambodia (NBC) in amount of 10% of the registered capital and this amount can be able to withdraw after the company stop the business operation completely and must be complied with the conditions as stated in Article 25 of this Declaration.
Loan Amount
1- All companies and enterprises who received the license from Ministry of Economic & Finance , the loan amount providing to the Pawnee or transferee of title not over than 20% per transaction of the registered capital. The loan providing for the possessor right document not over than 20,000.000 Riels (Twenty Million Riels) per transaction of the pawned property.
2- All companies and enterprises who received the license from Provincials-Municipals Department of Economic & Finance, the loan amount providing to the Pawnee or Transferee of title not over than 20% of the registered capital. The loan providing for possessor right document not over than 4,000,000 Riels (Four Million Riels) per transaction.
Interest Rate
The interest rate will be determined by covenant between Pawnbrokers or transferor of title and Pawnee or Transferee of title will be in consent with the regulation and provision of the Law that is still in effective.
Loan Period
This contract is effective to implement at maximum in Four (04) months executed from the pawned date or transferred date and can be renewable.
For more details, please contact us