Friday, November 23, 2007

Foreigners can own properties in Cambodia by legal ways

Even though, in Cambodia, there is no laws to allow foreigners to own properties, they still can have an ownership on the properties through some following legal ways:

1- Foreigners can get married with Cambodian women. By then, they can purchase any property which will be owned by their Cambodian wives.
2- Foreigners can have a Cambodian ID card through the donation with sum of about $40,000. With the Cambodian ID card, they can easy own any property under their names.
3- Foreigners can have any trusted Cambodian friends who will help them to purchase the properties on their behalf. Thereafter, Foreigners will lease the property from their Cambodian friends and hold the title deed.
4- Foreigners can incorporate a company with a Cambodian partner (Cambodian partner 51% and Foreigners 49%). They could purchase any property by using the company's name. Then, Foreigners can simply own the property by asking their partner to issue a power of attorney letter that he/she will give all right of power in decision making to Foreigners partner.

One more tip,before purchasing any property, make sure that the title deed is ok and due diligence must be completed. And finally,their partner must be honest.


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5 comments:

Guru said...

How and where does a person make USD 40000 donation for an ID. On establishing ID does a person have all the rights to do business as a Cambodian ......except cast a vote or indulge in any political activity.

Kindly guide.

Admin said...

Thanks for your comment!
Normally,that person must have been in Cambodia for a bit long already and be able to speak or read khmer a little. And that person has to go the Ministry of Interior. Usually, foreigners who got Cambodian ID don't involve in any political activity and only for businesses.

Anonymous said...

I am an american citizen and want to own property in cambodia? I heard that you have to be nationalized, or become a citizen in cambodia in order to own land as a foreigner? Is this true?

Guru said...

Combodia needs to open up for foreign investment to flow un- hindered. The USD40,000 and clean police record should be the gate pass for foreigners to get business rights in Combodia. It should be a honest deal, no games be played by the administration to put road blocks in the business of foreigners once they have the ID. My experience as an investor in many countries; foreigners are squeezed by the local administrates to milk them and most time investors get sick of it and leave.

My comment is for the eyes of the planners and the policy makers. In the present economic slow down investors are staying home, give them a good deal.They have no interest in your politics.

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