Reports by Development Asia say that Cambodia experienced heavy growth in MSMEs, contributing to more than 60 percent of the country’s GDP last year. Growth in the number of corporations has also ignited widespread demand for corporate legal consultancy nationwide. In Cambodia, the primary challenges with which they approach legal consultancy include issues related to breaches of contract, negotiations, and drafting agreements, assistance with registering businesses, obtaining licenses, and ensuring compliance with local regulations, legal matters involving property ownership registration or transfer, leases, and disputes over property titles, and assistance with registering and protecting trademarks, copyrights, and patents.
In this regard, Ly Rathy, President, Cambodia International Cooperation Law Firm is an expert in providing legal solutions to the above challenges and starts with a comprehensive consultation to understand the client’s specific situation, goals, and concerns. He conducts legal research to understand the applicable laws and regulations relevant to the client’s issues and provides written or verbal legal opinions based on the client’s needs and the specifics of the situation.
He represents clients in legal proceedings if disputes escalate to court or require other alternative dispute resolution like negotiation or mediation and offers continuous legal support and advice as needed, adapting strategies to changing circumstances or new developments. “I was initially inspired to pursue a career in law by a strong sense of justice and the desire to advocate for others. Growing up in a family of businesspeople, I felt the need to follow a different path that relied more on my intellect and soft skills rather than physical energy. Most importantly, I witnessed the impact that legal issues could have on individuals and communities, which motivated me to become part of the solution”, mentioned Ly Rathy.
Growth Story
Ly Rathy began their journey as an attorney in 2012 after completing his law degree in 2004 and passing the bar exam in 2010. From 2004 until 2010, he worked at various institutions and organizations to enhance legal expertise and develop important soft skills such as leadership and management. Later, in 2012, he started with being a trainee lawyer at a law firm, where he gained practical experience and mentorship. Three years later, in 2015, he was running his law group, which had just a few members and served a small area. After gaining the trust of national and international clients from all platforms through many years of efforts, the law group evolved into a law firm in late 2022.
This huge development symbolizes the law firm's growth, including infrastructure, office space, legal services, number of attorneys, staff, clients, and partners. On top of that, in July 2024, Ly Rathy also gained an Honoris Causa Doctorate Award in Business Administration from Maryland State University, the United States of America.
These experiences helped him understand the importance of the legal system and confirmed his commitment to helping others through accurate legal consultancy.
Process Excellence
The major legal considerations in Cambodia include choosing the appropriate legal structure (e.g., sole proprietorship, private or public limited company, foreign company, etc.), which is crucial for liability, tax, and operational flexibility. Additionally, understanding the legal requirements for registration, permits, and licenses is essential. This includes complying with the Ministry of Commerce and relevant sector-specific regulations and being familiar with the Law on Investment, which outlines the rights and obligations of foreign investors, is vital, including any restrictions in certain sectors.
Navigating land acquisition and lease agreements can be complex and is also a requirement, along with investors ensuring proper due diligence on land titles and compliance with local regulations.
Understanding labor regulations regarding hiring, employee rights, contracts, and workplace conditions is important to avoid potential disputes. Knowledge of applicable taxes, including corporate income tax, VAT, and other local taxes, is necessary for financial planning and compliance. A legal consultant must also act to ensure that trademarks, patents, and copyrights are protected within Cambodia that is essential for safeguarding business interests.
Ly begins with an in-depth discussion to understand the investor's goals, project scope, and concerns. He provides insights into the industry landscape, potential risks, and opportunities to inform their decision-making. He assists investors in understanding and complying with the relevant laws and regulations, including the registration process and necessary permits, and helps create or review contracts with local partners, suppliers, and employees to ensure they are legally sound and protect the investor's interests.
“I offer continued support for compliance with local laws and regulations, including periodic audits and updates on legal changes. In case of disputes or legal challenges, I guide investors on best practices for resolution and represent their interests when needed”, stated Ly.
Ly always abides by three work ethics, namely loyal to the profession, honest to clients, and sincere to yourself. His mission is to make sure that the services provided to his clients are expeditious, comprehensive, and efficient
Future Projections
The legal landscape in Cambodia has undergone significant changes over the years, reflecting broader economic and social developments. There has been a notable increase in regulatory frameworks across various sectors, including finance, real estate, labor laws, investment law, and taxation. This helps to resolve the ongoing issues efficiently. In this competitive landscape, Ly Rathy has gained significant trust and recognition in the market because of accurate understanding and transparency in services. “Ongoing judicial reforms are gradually enhancing public trust in legal institutions which will grow in the coming years”, concluded Ly.
Ly Rathy, President, Cambodia International Cooperation Law Firm
Attorney Ly Rathy, President of Cambodia International Cooperation Law Firm, is a competent legal professional with more than 10 years of experience in Cambodia’s legal landscape. Known for his deep understanding of Cambodian laws and ability to navigate complex legal matters with precision, he has earned a reputation for delivering effective solutions and protecting his clients' interests in a constantly changing legal framework.
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