Angkor Times Latest Questions

SOVANN
SOVANNExperienced
Asked: November 22, 2020

Phnom Penh is one of the best values for money in Southeast Asia. The cost of living in Cambodia has never been better. It is a city primed for opportunity and will best be enjoyed by those with an adventurous ...Read more

Phnom Penh is one of the best values for money in Southeast Asia. The cost of living in Cambodia has never been better. It is a city primed for opportunity and will best be enjoyed by those with an adventurous spirit and open mind looking to immerse themselves in a new culture, while still enjoying many comforts of the western world.

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SOVANN
SOVANNExperienced
Asked: November 22, 2020In:

In short, yes. Buying a condo unit from a reputable developer requires less work and is generally safer compared to buying a property through a holding company or a local nominee. With that said, Cambodia has favorable ownership regulations and ...Read more

In short, yes. Buying a condo unit from a reputable developer requires less work and is generally safer compared to buying a property through a holding company or a local nominee. With that said, Cambodia has favorable ownership regulations and foreigners can get hold off freehold property, having total control of their properties.

It’s important to do thorough due diligence whatsoever, to avoid future disputes and that the property has mortgages or other liens tied to it.

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SOVANN
SOVANNExperienced
Asked: November 22, 2020In:

Australians are treated in the same way as other foreigners and have no issues buying strata-titled (condominium) units without the need of setting up holding companies or to partner with local nominees. Read more

Australians are treated in the same way as other foreigners and have no issues buying strata-titled (condominium) units without the need of setting up holding companies or to partner with local nominees.

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buy property in cambodia
SOVANN
SOVANNExperienced
Asked: November 22, 2020

(All money in USD) Stevo and I earn less than $35,000 combined annually. We recently moved to a 1-bedroom apartment in a western-style building east of the Russian Market, one of the more popular expat areas. For us, the cost of ...Read more

(All money in USD) Stevo and I earn less than $35,000 combined annually. We recently moved to a 1-bedroom apartment in a western-style building east of the Russian Market, one of the more popular expat areas.

For us, the cost of living in Cambodia is pretty cheap. We only pay $400 per month in rent (including utilities) plus $50-$80/month for electricity. Our rent includes housekeepers who come twice a week.

Previously we lived in a 3-bedroom Cambodian style apartment for $350 per month on the west side of the Russian Market. There we paid $75-100 for utilities (trash collection, internet, water, electricity) and $40 for a housekeeper who came twice per week.

We eat at restaurants about four to five times per week ($5-15 per meal for two). Cooking a majority of our meals at home with produce bought from a local outdoor market in Phnom Penh and meat from “western-style” grocers helps to keep our cost of living in Cambodia down.

We go to events around the city several nights per week. We both go to a gym in Phnom Penh. Stevo does cross-fit , and I do yoga . If you’re looking for a cinema, Phnom Penh has many to offer. From laidback independent movie houses to one of the few 4DX screens in the world, you’ll definitely be able to get your movie fix.

Because of the cheap cost of living in Cambodia, we can afford to travel around Cambodia about once per month to Kampot, Sihanoukville, Siem Reap, and other provinces in Cambodia.

We have taken trips around the region to Thailand Myanmar Vietnam Malaysia , the Philippines Singapore Taiwan , and Laos , and are planning for more international travel.

We live better and feel happier than we did back in our hometown in southern California. Our life in Phnom Penh is simple, fulfilling, and never dull.

Eating deep-fried tarantulas, some of the best food in Phnom Penh, at Romdeng , one of our favorite restaurants.

What is the Real Cost of Living in Cambodia?

What is the Real Cost of Living in Cambodia?

Source: twocantravel.com

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SOVANN
SOVANNExperienced
Asked: November 22, 2020

Phnom Penh is divided into districts. A majority of expats live in BKK 1, 2 or 3, Russian Market, or by the Riverside. BKK 1 and 2 tend to be more expensive with restaurants, bars, and shops geared toward expats. ...Read more

Phnom Penh is divided into districts. A majority of expats live in BKK 1, 2 or 3, Russian Market, or by the Riverside. BKK 1 and 2 tend to be more expensive with restaurants, bars, and shops geared toward expats. BKK 3 (near the Tuol Sleng Genocide Museum) and the Russian Market have a good blend of western and local amenities.

The Riverside area tends to be crowded with tourists and can feel seedy due to the lady bars and nightclubs in the area. However, it is close to many restaurants, shops, and attractive tourist sites.

Another area of the city growing in popularity with expats is Tuol Kork, located 20-30 minutes from downtown. Phnom Penh is expanding outward, and the further outside the city center you go, the lower your cost of living in Cambodia is going to be.

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SOVANN
SOVANNExperienced
Asked: November 22, 2020In:

Buying Property in Cambodia: The Definitive Guide Do you plan to buy property in Cambodia? It’s also the last frontier country in Southeast Asia where it’s comparatively easy to start a business. With that said, being a developing country, things are done differently ...Read more

Buying Property in Cambodia: The Definitive Guide

Do you plan to buy property in Cambodia?

It’s also the last frontier country in Southeast Asia where it’s comparatively easy to start a business.

With that said, being a developing country, things are done differently compared to what many foreigners are used to.

Before you engage in Cambodia’s property market, it’s important that you learn about ownership regulations, property options available, where you should buy property, and more.

Source: asiapropertyhq.com

Can foreigners buy property in Cambodia?

Cambodia’s property ownership regulations are similar to those in Thailand and many other Southeast Asian countries. Here, foreigners can only get freehold ownership of strata-titled properties (mostly condos) and aren’t allowed to own land.

Similar regulations apply in the Philippines, Vietnam, and Thailand, just to give you some examples. As read in Article 16, “Amended Law on Investment”, persons with Cambodian citizenship or Cambodian entities have legal rights to own land.

It’s simple as that. But there are ways for foreigners to buy and at least control land.

Source: asiapropertyhq.com

Buying Land in Cambodia

You can buy land in four different ways in Cambodia. The process is not risk-free, nor easy if you’ve never engaged in the Cambodian property market.

Therefore, I highly recommend you to hire a reputable property lawyer and real estate agent earliest possible that can guide you through the buying process.

Let’s look at the four different options you have when buying land as a foreigner.

Source: asiapropertyhq.com

1. Buying Land Through a Cambodian Company

This is probably the safest option to buy land in Cambodia. It’s recommended in many other countries, including Indonesia . Bear in mind that the process to set up a company does require a bit of capital and time.

As foreigners can only own 49% of company shares, assure that you set up the company with partners you trust.

Despite being a minority shareholder of the company, you will be able to control the ownership of the property by using different contractual setups.

It’s crucial to do due diligence and appoint a property lawyer to help you through the process.

Source: asiapropertyhq.com

2. Setting up a Leasehold Agreement

Foreign investors can lease land for a period of 15 to 50 years.

Sometimes, you’ll be able to extend the lease up to 50 years. If the state owns the land, the maximum lease period is 40 years.

Keep in mind, one of the most important tasks to manage before entering a leasehold agreement with a landowner is to check the title.

The title includes information about:

Your rights to control the property

Your rights to sell or rent out the property

If there are any encumbrances or mortgages since previous ownership

Source: asiapropertyhq.com

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SOVANN
SOVANNExperienced
Asked: November 22, 2020

If you’re tired of spending everything you earn on the monthly bills, you could chop them by a huge percentage if you went to live in Cambodia. How do these expenses for living in Cambodia compare to yours? A 2-bedroom apartment with ...Read more

If you’re tired of spending everything you earn on the monthly bills, you could chop them by a huge percentage if you went to live in Cambodia.

How do these expenses for living in Cambodia compare to yours?

A 2-bedroom apartment with a pool in the capital city for $500, a $5 massage for an hour, a full-time nanny or housekeeper for $120 a month, meals out for $2, taxis for a dollar or two.

A while back I put out a book on cutting your expenses in half by moving abroad Get it here ) In the course of that, I interviewed loads of expats living in different countries. If you pinned me to the wall and said I had to tell you which country was the absolute cheapest place to live in Southeast Asia, Cambodia would be the answer. It’s one of the cheapest places to live in the world really, edged out by just a few. If you’re earning a couple grand in passive income, this could be your spot for a four hour work week

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live in cambodia
SOVANN
SOVANNExperienced
Asked: November 22, 2020In:

1. Long Term –> Agriculture If your strategy is to play long term, and create assets that are valuable for the next 50 years, look towards agriculture. its an easy win. Farming is largely backed by government support, and everyone seems ...Read more

1. Long Term –> Agriculture If your strategy is to play long term, and create assets that are valuable for the next 50 years, look towards agriculture. its an easy win.

Farming is largely backed by government support, and everyone seems to realize this is an important sector for the country.

Cambodia in 2012 received its FIRST order of rice from China, and it won’t be China’s last order of rice from Cambodia. Jim Rogers has stated that if you want to be rich “become a Chinese farmer.” Better yet, don’t become a Chinese farmer and start a business in a communist country – start an agriculture business, and sell the rice to the Chinese from right next door.

Cambodia is well positioned to be the agricultural hotbed of southeast Asia . As Vietnam, China and Thailand race towards development, a growing population and rising middle class will demand more protein. Food, in general, will see a massive increase in demand, and decrease in supply in the 21st century. Cambodia and Myanmar are strategically positioned to start an agriculture business.

2. Short Term Tourism

Tourism on the southern beaches could absolutely explode in coming years. A spillover from the overcrowded Thai tourism market is inevitable, and Cambodia has pristine beaches that rival any in neighboring Siam.

Tourism has been growing over 10% YOY in Cambodia.

2.8 million tourists visited Cambodia in 2011

12 percent more than the 2.5 million arrivals in 2010.

Compare this to the 15 million tourists that visited Thailand in 2011 , 55% of which were return tourists.

“Officials believe that international arrivals will reach 4.5 million by 2015 and 7 million by 2020” source , It is clear that the trend in UP for tourism, and there is still amazing beachfront plots available. Instead of wasting your money in Phuket , why not spring next door to the next Phuket.

Foreigners can’t own the ground floor of a building but are free to buy condos and other real estates, but it can if you get a passport… 3. Wildcard Investment –> Cambodian Citizenship Alternatively, if you have the cash and want to make a run at it, you might seriously consider a citizenship by investment, or even set up some sort of program that provides this service to others.

As it stands, the total cost of this citizenship will run you about $200,000.

Source: flagtheory.com

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SOVANN
SOVANNExperienced
Asked: November 22, 2020In:

Want a 2nd passport? You can get a legit Cambodian citizenship and 2nd passport. It’s also a great place to form a company and start a business, and here’s why… Most wanderers who finally make it to Cambodia have a truly peripatetic ...Read more

Want a 2nd passport?

You can get a legit Cambodian citizenship and 2nd passport.

It’s also a great place to form a company and start a business, and here’s why… Most wanderers who finally make it to Cambodia have a truly peripatetic perspective. Unlike Thailand to the west, the country really is undiscovered.

SE Asia’s best kept secret – Cambodia is rarely the first stop for a traveler to Asia, that’s far more likely to be Toyko, Bangkok, Hong Kong or Singapore – not Phnom Phen . Most people don’t know about it, many that do wrongly assume there is nothing there.

But it is the false pretense that there is ‘nothing there’, which makes business opportunities ripe for the picking.

But Cambodia is a gem.

From the ancient temples at Ankor Wat in Siem Riep, to the seaside province of Sihanoukville; Cambodia is full of Exotic Experiences, Polite People, and Interesting Investments. Also, its the only SE Asian country you can get a passport, and whereas it would take over 10 years to get citizenship in Thailand (and probably never happen anyway) its possible to get a legit citizenship in less than a 4 months in Cambodia.

Source: flagtheory.com

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