Trust Law of Kingdom of Cambodia

Kingdom of Cambodia promulgated first Trust Law on January 2, 2019. Before the present law, a Sub-Decree (Sub-Decree No. 476, In Khmer: អនុក្រឹត្យលេខ ៤៧៦ អនក្រ.បក ចុះថ្ងៃទី ២៦ ខែសីហា ឆ្នាំ ២០១៣ ស្ដីពីបរធនបាលកិច្ចហិរញ្ញវត្ថុ ) concerning Financial Trusts has been issued on August 26, 2013; and that Sub-Decree is the one material to introduce the concept of financial trusts in banking and microfinance sectors in Kingdom of Cambodia. 

According to Article 1through article 3, present law aims to set out the rules and procedures to establish, register, manage and control Trusts (បរធនបាលកិច្ច) in Cambodia. This law divided trusts into four types (art. 9): 

    1.  Commercial Trust ( បរធនបាលកិច្ចពាណិជ្ជកម្ម) 

    2. Public Trust (បរធនបាលកិច្ចសាធារណៈ) 

    3. Social Trust (បរធនបាលកិច្ចសង្គម) 

    4. Personal Trust: (បរធនបាលកិច្ចបុគ្គល) 

Commercial Trust is provided in art. 10 that "The Commercial Trust is created in the purpose of gaining profits for the benefit of trust contributor or any specified person determined by trust contributor." 

Public Trust is provided in art. 11 that "The public trust is created in the purpose of benefit of general Cambodian people."

Social Trust is provided in art. 12 that "The Social Trust is created when trustor gives his/her property to trustee for the benefit of the society such as for culture, education, humanity, religion or science purpose."

Personal Trust is provided in art. 13 that "The personal Trust is created for the benefit of trustor or specific person determined by trustor."

For more detail contents of Trust Law of Kingdom of Cambodia, please visit below link. 

https://www.youtube.com/playlist?list=PLhTuv2T_wnFAtFkEcrH2H5t53d8KphTgy