Foreigners can Invest in Cambodia, based on its welcome property ownership regulations, which have seen an increase in the number of foreign investors in the country. As much as Cambodia is doing to its neighbours when it comes to attracting foreign investors, Cambodia tops the charts. However, Cambodia is giving foreigners the opportunity to gain access to astral title properties, especially Condos freehold ownership.
Real Estate Cambodia is the fastest growing country, second only to Myanmar in Southeast Asia. In particular, Cambodia’s rapid growth rate is due to an increase in the level of foreign direct investment (FDI). For many years now, the country has focused on growing its economy by attracting thousands of investors from other countries, who have thrived in various industries, especially the real estate industry. Many businessmen who choose to invest in Cambodian real estate are literally running to the bank with constant smiles.
But the question is, why is Cambodia attracting so many foreign investors? Here’s why
No Visa Restriction
It is very easy to get a visa in Cambodia. For example, a tourist visa is free for approximately 14 to 14 days, depending on your nationality. Foreigners have the opportunity to enjoy a work visa (EB) for 3 months, six months to twelve months. You are also lucky because any travel agency in the country can help you process your travel visa on the go.
If you are non-Asian, you can get a regular 30-day visa at the airport and at the border. You do not need to provide any documents as it is with many countries, so it is very easy to enter the country in the first place.
As a foreign investor, by providing proof of employment, you can get your work visa without wasting your time and money. In addition, any foreigner who has a work visa is legally eligible for an EB visa.
If you want to retire in Cambodia and make some investments in the real estate industry, you can get a 6 or 12 month ER visa which is also available at any of your favourite travel agencies. All you need to do is show proof of income from your home country.
No Currency Differentiation
Cambodia Real Estate is the only Asian country that allows you to transact with the USD, making it a hub for many foreign investors in European countries. The USD is used in Cambodia with the local currency and money called the yeast rail, but about 80% of business transactions in Cambodia depend on the USD. This is because it is much more stable and reliable.
You can buy and sell property in Cambodia using USD, thus getting rid of the difficult exchange rates that affect the management of businesses in developing countries abroad.
Most of all, the cost of living in Cambodia is low, including the cost of goods, thus making it easier for you to live and work in this charming country. In the same way, you will always enjoy investing in the developing real estate industry and have the opportunity to reap big rewards.
No Need to Change Citizenship
Abroad In many countries, you have to be a citizen to get permanent citizenship, and a lot to get involved in the real estate industry. Some countries, such as Malaysia, allow you to make limited investments in the real estate industry.
In Real Estate Cambodia, on the other hand, you can enter the real estate industry without changing your citizenship. As a foreigner, you can buy property in Cambodia through a nominee, where about 51% of the property is held in the name of a Cambodian citizen and the rest in your name. But for security purposes, you can enter into a mortgage agreement, which prevents any nominee from selling your property or transferring it to someone else, including making changes to the property.
As a foreigner investor, you have the right to lease your property in Cambodia for 50 years or more, as long as you have a legal lease agreement. It gives you a great opportunity to make money from your property even when you are busy with other business projects in the country or return home.
Most of all, as a foreigner, you are eligible to own any company of your choice and enjoy 100% ownership. You will not face any trade restrictions, and you can set unlimited prices based on your terms. You can repatriate your earnings without any limitation.
As a foreign investor in Cambodia, you can create a company under Qualified Institutional Placement (QIP) and enjoy tax breaks or unique tax cuts. This tax reduction is about 40% of the cost of production.
You will also be eligible for a 3-year tax holiday, which begins immediately after you receive your final registration certificate. However, you must also register with the Cambodia Development Council. Even after the 3-year tax holiday expires, you will be given another 3-year preferential period of tax exemption based on business and investment capital.
You will also receive extraordinary help and support from government officials under Special Economic Zones (SEZs). You can also access additional budgets for infrastructure and public works.
Foreign Investment in Cambodia and other countries reflects foreign ownership of production facilities. To be classified as foreign direct investment, the share of foreign ownership must be at least 10% of the company’s value. Investments can be in manufacturing, services, agriculture or other sectors. It can start as a greenfield investment, acquisition or a joint venture.
Work with Young and Enthusiastic Workforce
Cambodia is known for its high population of young and passionate people, which can be a great source of human resources for your company or business. If you want to set up a company in Cambodia, you are convinced that getting a fresh mind to work with it is driving Cambodia’s economy to great growth.
Countries like Japan are seeing a slowdown in their economic growth due to the large number of aged manpower. They are forced to recruit workers from neighbouring countries, including Cambodia.
Land Ownership in Cambodia for Foreigners
Article 16 of the amended law on investment in Cambodia prohibits the ownership of land by foreigners. Since only citizens and Cambodian companies can Invest in Cambodia, these companies are companies. Although this is a principle as stated in the Act, there are still other ways in which a foreigner can become the owner of property in Cambodia and this will be briefly explained.