The Ministry of Economy and Finance (MEF) has urged Land Split Development Business developers to register for a permit and licence to operate legally in Cambodia’s sub-division development business by April 30.
In a statement, the MEF added that developers wishing to undertake the splitting of land with a size less than a hectare must apply for the correct permit with the provincial and municipal department of Economy and Finance (PMDEF). Those looking to split land with an area size of over a hectare should apply for their licence with the MEF.
An MEF representative told Khmer Times that the new update comes after a directive issued by the ministry on January 20 has not been responded to so far by land-split development business owners.
Prakas No 089 previously encompassed housing and co-owned businesses, with land-split developments a new addition.
“We know that there is a sub-division business in the Kingdom, and this first step is about getting them to register and apply for a permit as the rest of the developers have to do,” the spokeswoman said. “If they don’t comply, we will be forced to take further steps.”
Those “further steps’’ could include a prohibitive hefty fine of up to $25,000, she added.