Angkor Times - Your Guide to Doing Business & Living in Cambodia

MayApp AsiaExperienced

Asked: April 7, 2021In: Money

What are the procedures of transferring land ownership in Cambodia?

What are the procedures of transferring land ownership in Cambodia? The ultimate procedures of transferring land ownership, both registered and unregistered in Cambodia. Of course, some people may not understand the procedure for the transfer of land tenure, so to ...Read more

1. Procedure for transfer of unregistered land tenure (soft title)

Applicants must start from:

Take the land transfer form at the OWSO of City / District / Khan.
The parties (buyers and sellers / donors and recipients of the gift) must give a thumbprint in front of the commune / sangkat chief of the land location, assuming completion.
After completing and fingerprinting and having the signatures of local authorities, village chiefs and commune / sangkat chiefs, the commune chief will send it to the city / district / khan for further action.
The municipal / district / khan governor will identify the case, request and issue a notification on the survey with the municipal / district / khan cadastral officer as the surveyor.
The date of the measurement is the parties, the boundaries, the village chief, the village chief, the commune / sangkat chief, the cadastral officer and the municipal / district / khan official will start measuring and demarcating the boundaries.
After the measurement procedure is completed, the mayor / district / khan will send this file to the provincial tax branch / General Department of Taxation (Phnom Penh case) to pay the stamp duty.
The applicant must take this file to pay the stamp duty by himself. When submitting this document to the tax, he must fill out the application form to pay the stamp duty in the form of tax.
Within 10 working days (general), the tax officer will issue a stamp tax notification.
The stamp duty shall be based on the value of the land and the attached building (if any) at the rate of 4% of the actual selling price or the price determined by the Prakas of the Ministry of Economy and Finance.
This tax is required for all taxpayers who owe taxes, such as annual property tax, unused land tax, etc. at the same time as stamp duty.
Applicants must take this notice to pay taxes at state partner banks such as ACLEDA.
After paying the tax, the bank that receives the tax must issue a receipt stating that it has received 2 tax receipts (pink and blue).
The applicant must return this invoice to the taxpayer.
Within about 3 days, the taxpayer will return the file with the stamp stamped on the unregistered land title deed and issue a certificate of stamp duty.
The applicant must bring the file to the City / District / Khan for the Mayor / District / Khan Governor to complete this form on the unregistered land title deed.

2. Procedure for transfer of land ownership (hard copy)

Applicants must start from:

Ownership transfer documents include: Final sale / bestowal and title transfer application from the Municipal / District / Khan Land Office.
The Land Cadastral Officer must complete the information on this document.
The parties (sellers and buyers or gift givers and recipients of the gift) must bring it to the Commune / Sangkat Hall for a thumbprint in front of the Commune / Sangkat Chief
Commune / Sangkat Chief is the only person in charge of signing this sale.
Next, return this file to the municipal / district / khan land office.
The Cadastral Officer shall set a date for the land survey. After the measurement is completed, the Land Office shall send the file to the Capital / Provincial Land Department.
Land Department registers to pay for public services 150,000 Riels / card to continue the process.
When the territorial department is finished, it is sent to the provincial tax branch / General Department of Taxation (Phnom Penh case) to pay the stamp duty.
The applicant must take this file to pay the stamp duty by himself. When submitting this document to the tax, he must fill out the application form to pay the stamp duty in the form of tax.
Within 10 working days (general), the tax officer will issue a stamp tax notification.
The stamp duty shall be based on the value of the land and the attached building (if any) at the rate of 4% of the actual selling price or the price determined by the Prakas of the Ministry of Economy and Finance.
This tax is required for all taxpayers who owe taxes, such as annual property tax, unused land tax, etc. at the same time as stamp duty.
Applicants must take this notice to pay taxes at state partner banks such as ACLEDA.
After paying the tax, the bank that receives the tax must issue a receipt stating that it has received 2 tax receipts (pink and blue).
The applicant must return this invoice to the taxpayer.
In about 3 days, the taxpayer will return the file with the stamp stamped on the sale and issue a certificate of stamp duty.
The applicant must bring the file to the Land Management Department for completion.
On the title deed (back page) is the name of the buyer or the recipient of the gift on the title deed to confirm that the transfer has been completed with the oval stamp of the territorial department.

Transferring land ownership in Cambodia

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Angkor TimesExperienced

Asked: May 2, 2021In: Money

How to Make Money Online in Cambodia

Covid 19 firstly found in Cambodia in earlier 2020. During at that time, the Covid19 patience mostly were foreigners who were visited Cambodia whether for business visit or tour visit. Since then, the Convid19 viruses have been spreading to the ...Read more

Many businesses have stopped their operation while others have been still operating but reducing staff in the companies or organizations. Some people lost their jobs while many others have been looking for new job opportunities or how to make money online. Here are a few ways to make money online during Covid19 in Cambodia 2021.

1. Selling Books

Many Cambodian people have been starting writing books for sale while others are selling others’ books. During the covid19 pandemic, a lot of areas in both Phnom Penh capital and other provinces were identified as the red, yellow, and arrange zone where have limited access or travel to any place for working or doing business. They have a lot spare times staying at home all days long. If you have good books for sale, they are likely to buy your books to learn to improve their knowledge.

2. Selling Online Training Courses

Online training courses are selling like hot cakes in Cambodia during Covid19 season. If you have knowledge or experience or skills in anything such as digital marketing, web development, app development, leadership, soft skills, and other knowledge setting, you can create courses for sale online.

3. Start Remote Work

Some companies or organizations, even they are not able to operate their businesses or run their projects offline, but they try to adapt their working to online. They have been looking for consultants, talent people or content writers to write contents or do some projects for them remotely. You can find these opportunities by engaging with local recruiter via their website, companies/organizations’ websites or LinkedIn so that you can get update information about new job opportunities when they are available.

4. Start Selling Food Online

It is a great opportunity for your to validate your ideas on starting a new business online, especially starting food online to those who’re in the lockdown areas as they are not allowed to going out to buy food or do anything; However, as a food dealer or seller, you are allowed to sell and deliver them food.

5. Start Affiliation Marketing Job

You can look for popular products or servics to be affiliated with in order to sell them to your networks (your people of being connected). For example, you can be affiliated with cloth shop, beauty shop or event training course of any trainner. Then you can start discussing with them if you want to sell their products or services to your customers. Let’s say you are going to sell clothes then you may want to contact to the cloth shop manager or owner then they will offer you a discount price which you can sell on the market, if someone bought your the clothes from you, you can contact to the cloth shops to send your customer clothes, after that you will get paid as commissions. You can apply this method to other affiliations that you think you are knowledgable in promoting it or selling it.

6. Writing Contents for Angkor Times

Cambodia Time is currently looking for English Content Internship writer, if you think that you can write up to at least 12 contents per month for Cambodia Time, you are eligible to earn some inventive plus other benefits from us. To get started, we will brief and provide you training on how to write content for us. You can defiantly work remotely.

If you are interested in this opportunity, you can write us an email: [email protected].

How to Make Money Online in Cambodia | Cambodia Time

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SOVANNExperienced

Asked: April 30, 2021In: Money

Is YouTube banned or restricted Ads and Monetization in Cambodia?

There is a rumor that Cambodia is banned and restricted from YouTube Advertising and Monetization. There is a rumor that has been viral a few weeks in Cambodia disclosed that “YouTube video ads in Cambodia have been blocked, allowing local users ...Read more

There is a rumor that Cambodia is banned and restricted from YouTube Advertising and Monetization.

There is a rumor that has been viral a few weeks in Cambodia disclosed that “YouTube video ads in Cambodia have been blocked, allowing local users to view only videos posted on the site without ads.”

This has become a great concern for Cambodian YouTubers (content creators) and advertisers for being interrupted in driving revenue for their businesses.

Regarding the question about the ban, a YouTube representative for Southeast Asia said that under the monetary policy of content creators in Cambodia, monitors were not allowed to monetize their videos on his channels.

“Advertisers can target their ads only to countries where YouTube has launched monetization sites,” the policy states.

The YouTube representative above could not determine why all ads were blocked on the platform.

Mr.. SOVANN, CEO of Activerify, a trusted local digital marketing company, says services such as YouTube advertising are vital to doing business in Cambodia. He said he has been using these types of ads in the country since he arrived in 2016. “For Google, Facebook or other big technology companies to take away services from Cambodia is not appropriate,” he said.

Regarding the question of whether the withdrawal of advertisements may be related to the Government Sub-Decree on Value Added Tax (VAT) for digital goods and services sold by foreign companies? “Value Added Tax (VAT) on digital goods and services is a global issue,” he said. He added that the Royal Government of Cambodia is always willing to discuss and meet with companies on such issues and would be surprised if the removal of advertisements is in line with government policy.

Chris McCarthy, CEO of MangoTango Asia, a local digital marketing company, says “Not sure what has happened to YouTube yet, but the closure is a demonstration of the power these companies have over business revenue and that is something the government should be concerned”.

While Cambodia-based YouTube videos are not eligible for monetization at all, it is also worth noting that Google Ads does not collect value added tax (VAT) in other countries in the region including Thailand.

Policy for Thailand states: “Because your Google Ads business contract is registered with Google Asia Pacific Pte Ltd. Local taxes do not apply to your Google Ads activity. “These taxes will not be shown on your invoice.”

Mr.. SOVANN noted that Google Ads is still active on websites in Cambodia.

YouTube banned or restricted Ads and Monetization in Cambodia-Cambodia Time

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Angkor TimesExperienced

Asked: September 5, 2024

How to Prove Your Value If Your Clients Say Your’re Too Expensive

In the world of business, pricing is a sensitive topic. As a service provider, entrepreneur, or freelancer, you’ve likely encountered clients who say, “You’re too expensive.” The reaction to this statement can often lead to a spiral of self-doubt ...Read more

But here’s the truth: If you consistently lower your prices to meet a client’s budget, you are undervaluing your work and your worth.

How to Prove Your Value If Your Clients Say Your're Too Expensive — How to Prove Your Value If Your Clients Say Your’re Too Expensive

To break this cycle, the key lies in shifting the focus from price to value. Charging what you’re worth requires a confident understanding of the unique benefits you bring to the table. It’s about conveying to your clients why your services are an investment rather than an expense.

Here’s how to do just that by showcasing six specific ways to highlight the value you bring.

1. Showcase Proven Success

Numbers don’t lie, and clients are more likely to understand your worth when you provide tangible, measurable results. If a client says you’re too expensive, it’s essential to counter that with evidence of your success.

This could come in the form of case studies, client testimonials, or clear metrics that demonstrate the return on investment (ROI) you’ve provided for others. For example, if you’re a marketing consultant, you might say, “I helped my previous client increase their online traffic by 50% in six months, resulting in a 25% increase in sales.” This shifts the conversation from “how much it costs” to “how much it benefits.”

When a client sees the specific outcomes of your work, they’re less likely to haggle over price because they understand the potential value you bring. Results speak louder than discounts ever could.

2. Leverage Your Industry Expertise

One of the best ways to demonstrate your value is by positioning yourself as an industry expert. You’re not just providing a service; you’re bringing years of experience, knowledge, and a deep understanding of the industry that your client might not possess.

Show your clients that you understand the nuances of their business and the challenges they face. For instance, if you’re a website developer working with a retail business, offer insights into how e-commerce trends are shifting or how specific website features can improve their conversion rates.

Clients appreciate partners who not only execute tasks but also provide strategic insights. When you share industry-specific knowledge, you illustrate that you bring more than just a service—you bring invaluable expertise that helps them achieve long-term success.

3. Offer Bespoke Solutions

In today’s competitive landscape, a one-size-fits-all approach won’t cut it. To truly stand out and justify your pricing, offer bespoke, tailored solutions that cater directly to the client’s specific needs.

Instead of offering a generic solution, take the time to understand the client’s unique challenges and objectives. Then, present a customized plan that addresses those areas. For example, if you’re a graphic designer, don’t just offer a branding package—offer a personalized brand audit that identifies key areas where their visual identity can be strengthened to target their market more effectively.

This not only sets you apart from others who may offer standard services, but it also demonstrates that you’ve carefully thought about how to help your client succeed. Tailored solutions equal tailored results, and that’s worth paying for.

4. Highlight Long-Term Benefits

Many clients are focused on the immediate cost without considering the long-term value of your work. It’s up to you to make this clear. If a client balks at your price, shift their attention to the future benefits they will reap.

For example, if you’re an SEO consultant, emphasize that while the initial cost might seem high, your work will lead to sustained growth in organic traffic, brand visibility, and conversions over time. A well-executed SEO strategy doesn’t just offer short-term wins—it’s an investment that will pay dividends over the long term.

The key is to help your clients see your services as an investment that pays off over time, whether that’s through improved efficiency, better market positioning, or enhanced brand reputation. Show them that you’re focused on delivering lasting results, and suddenly, the price becomes less of a concern.

5. Demonstrate Proactive Expertise

Clients love working with someone who can foresee potential challenges and provide solutions before problems arise. Proactive expertise is a value that’s often underestimated but can set you apart from competitors.

Let’s say you’re an IT consultant, and you notice a potential security vulnerability in the client’s system. Bringing this to their attention before it becomes a critical issue demonstrates your ability to think ahead and adds a layer of value beyond the services you were initially hired to perform.

When clients see that you’re not only solving their current problems but also preventing future ones, it underscores your value as a partner in their success. Being proactive about your client’s business needs makes you an indispensable resource—and not someone they’ll want to negotiate down.

6. Articulate Your Unique Value Proposition

Every professional brings something unique to the table. Whether it’s your innovative methods, creative problem-solving skills, or a proprietary process, make sure your clients know what sets you apart.

Your Unique Value Proposition (UVP) is what differentiates you from competitors. It’s the “why you” question. Why should a client choose you over someone else? Why is your approach superior? This could be your commitment to delivering high-quality work, your efficient processes that save clients time, or your ability to bring creative solutions to complex problems.

Whatever it is, articulate this clearly. Reinforce the message that your value lies in the quality and distinctiveness of your work—not just in the number of hours you’ll spend on the project.

Charge What You’re Worth

When clients claim that you’re too expensive, it’s often because they haven’t fully understood the value you provide. By focusing on the value you bring rather than negotiating on price, you not only maintain the integrity of your pricing but also ensure that you’re working with clients who respect your worth.

Remember, your expertise has a value that goes beyond the time spent on tasks. It’s tied to the results you deliver, the industry knowledge you provide, the foresight you bring, and the customized solutions you offer.

When you clearly communicate this value, clients will understand why you’re worth every penny—and they’ll be more than willing to invest in your services. Charge what you’re worth and never settle for less.

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SOVANNExperienced

Asked: October 29, 2021In: Work

What does Meta mean for Cambodian?

Recently Facebook changed its parent company to Meta making the fans, investors, and other businesses doubt that What does Meta mean for Facebook? According to NationalWorld wrote that ” Mark Zuckerberg said in his presentation that he had chosen the name Meta ...Read more

Recently Facebook changed its parent company to Meta making the fans, investors, and other businesses doubt that

What does Meta mean for Facebook?

According to NationalWorld wrote that ” Mark Zuckerberg said in his presentation that he had chosen the name Meta in part because it “reflects the full breadth of what we do and the future we want to help build”. But he also said he had chosen it as in Greek it means ‘beyond’.” More info: meta.com

Facebook-Meta

Facebook said ” The change is an attempt to bring focus to its work on the “metaverse”, as it refers to a host of augmented and virtual reality features that it claims will be the future of social networking. But it might also be an attempt to shift focus away from its ongoing controversies.”

What does meta mean in English?

Media is an adjective. Meta (of a creative work) referring to itself or to the conventions of its genre; self-referential.

“the enterprise is inherently ‘meta’, since it doesn’t review movies, for example, it reviews the reviewers who review movies”

What does Meta mean for Cambodian?

Meta in Khmer or Cambodian means benevolence, loving-kindness, friendliness, amity, good will, and active interest in others.

Meta commonly a name which is given to a daughter, however, some Cambodian parents love the name so much also give that name to their son as well.

Some Cambodian people believe that Meta will bring luck to other people around them as he or she is loving kindness and friendliness.

What does Meta mean for Cambodian?

Meta in Khmer or Cambodian means benevolence, loving-kindness, friendliness, amity, good will, and active interest in others.

Meta commonly a name which is given to a daughter, however, some Cambodian parents love the name so much also give that name to their son as well.

Some Cambodian people believe that Meta will bring lack to other people around them as he or she is loving kindness and friendliness.

To you, what does Meta mean?

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SOVANNExperienced

Asked: December 26, 2020In: Money

What should I know before investing in real estate?

Are you thinking of investing in real estate today? Before investing or buying any property or land in Cambodia, you may want to consider these six fundamental criteria or questions your should know in order to maximize for future profits: 1. Road: ...Read more

Are you thinking of investing in real estate today?

Before investing or buying any property or land in Cambodia, you may want to consider these six fundamental criteria or questions your should know in order to maximize for future profits:

1. Road: Does the place have dirt road, paved road or concrete road? And how many meters is the road?

2. State Building: Is the area close to the district hall, the police station, the military post? . Etc. Town: Is the area densely populated? And are there schools, hospitals, restaurants, hotels, resorts nearby?

4. Industrial areas: Does the area have large factories nearby?

5. Electricity: Is there a connection? If so, is it a public or private electricity?

6. Banks: Are there any banks or financial institutions nearby?

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SOVANNExperienced

Asked: December 7, 2020

What is Bakong System?

Bakong System is a new service that enables you to easily receive and transfer funds, using your personalized QR code or mobile phone number instead of a bank account number. You can register Bakong System with National ID card/Passport and ...Read more

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Angkor TimesExperienced

Asked: September 16, 2024In: Tech

Can India’s IT Expertise Boost Cambodia’s Digitalization Efforts?

India’s Role in Supporting Cambodia’s Digitalization Journey. In recent years, Cambodia has been taking significant steps toward digital transformation, aiming to modernize its governance, infrastructure, and economy. This effort is a continuation of the country’s historical relationship with India, ...Read more

India’s Role in Supporting Cambodia’s Digitalization Journey.

In recent years, Cambodia has been taking significant steps toward digital transformation, aiming to modernize its governance, infrastructure, and economy. This effort is a continuation of the country’s historical relationship with India, a nation that has long supported Cambodia’s technological and digital advancements. India’s expertise, particularly as the world’s leading exporter of information technology (IT), has played a crucial role in fostering a partnership that promotes Cambodia’s growth in the digital era. As Prime Minister Hun Manet continues to focus on building a digital society, India’s support is increasingly vital in helping Cambodia realize its ambitions.

Prime Minister Hun Manet (front L) during the opening ceremony of the first Digital Government Forum 2024 and Cambodia-International Digital Government and Digital Technology Exhibition at the Koh Pich Convention and Exhibition Centre in Phnom Penh. PMO

Cambodia’s Digitalization Efforts

Since taking office, Prime Minister Hun Manet has made it clear that digital governance is one of his administration’s top priorities. His vision includes streamlining public services, increasing productivity, and positioning Cambodia as an attractive destination for international investors. Cambodia’s digital transformation is seen as a key driver of long-term economic prosperity in an increasingly connected global economy.

A significant step toward this goal is the commitment to building modern digital infrastructure, which is essential for fostering an environment that supports business growth and innovation. As Cambodia seeks to improve its digital capabilities, India’s role in supporting these developments has become more pronounced.

India’s Commitment to Cambodia’s Digital Growth

India, known for its technological prowess, has stepped in to empower Cambodia’s digitalization efforts. In August 2024, during the Quad Familiarization Visit for journalists, India’s commitment to fostering digital cooperation with Indo-Pacific countries, including Cambodia, was emphasized. The visit brought together journalists from various nations to discuss India’s approach to enhancing technological collaboration in the region.

Dr Subrahmanyam Jaishankar (second right), Minister of External Affairs of India, addresses journalists from 23 countries, stressing how Quad has increasingly become instrumental in the Indo-Pacific region through an expansive agenda, resilient supply chain, climate action, technology collaboration and quick disaster response held in New Delhi on August 19.

Indian External Affairs Minister Dr. Subrahmanyam Jaishankar noted, “The Union Government of the Republic of India is making efforts to strengthen cooperation in the digital domain, ensuring supply chain and addressing the impact of climate change with countries across the Indo-Pacific region for economic reforms.” His statement highlighted India’s proactive stance in addressing global challenges through digital collaboration.

During the visit, participants from Cambodia and other countries were exposed to India’s advanced IT infrastructure and its potential applications in boosting Cambodia’s technological landscape. India’s vast experience in IT exports, digital governance, and fintech makes it a valuable partner in Cambodia’s digital journey.

Cambodia-India Digital Collaboration

The relationship between Cambodia and India in the realm of technology is growing stronger. Harsh V. Pant, Vice President of Studies & Foreign Policy at the Observer Research Foundation (ORF), pointed out during discussions on day two of the Quad Visit that India’s expertise in digital infrastructure can significantly benefit Cambodia. “What India can offer to Cambodia is the development of digital infrastructure as we specialize in terms of technology and digital platforms,” Pant said. This development includes collaborations in areas like e-governance, digital payments, and education, complementing China’s investments in Cambodia’s hard infrastructure.

The collaboration between the two nations is not new. India has consistently supported Cambodia’s technological advancements through initiatives like the Indian Technical and Economic Cooperation (ITEC), which offers scholarships and training to Cambodians in various tech-related fields. According to Dr. Chey Tech, a socio-economic researcher, India’s support aligns with the Royal Government of Cambodia’s (RGC) priorities. “Cambodia and India have been fostering a strong relationship in the realm of technology development,” Dr. Tech said, stressing the importance of focusing on capacity building and knowledge transfer over the next five years.

The Benefits of India’s Expertise

India’s technological expertise presents numerous opportunities for Cambodia. From developing IT parks to promoting digital innovation, India’s support could be a game-changer in Cambodia’s quest to modernize its economy. Furthermore, India’s Unified Payment Interface (UPI) could revolutionize Cambodia’s digital payment landscape, enhancing secure and seamless transactions across the Kingdom. This collaboration in fintech, along with efforts in digital health and education, could transform key sectors of Cambodia’s economy.

Niraj Gupta, Director of Macro Computing Solutions Co. Ltd., believes that Cambodia’s digital infrastructure can benefit greatly from India’s involvement. “India has shared technical expertise through scholarships, training, and joint programs under schemes like ITEC. These collaborations support Cambodia’s digital transformation and align with India’s outreach to Southeast Asia,” Gupta said.

Cambodia’s Strategic Position and India’s Global Role

India’s growing influence on the global stage, especially in the digital domain, is expected to have a lasting impact on Cambodia’s development. As emerging powers like India and China continue to expand their influence, Cambodia stands to benefit from maintaining strong relationships with both nations. Dr. Seun Sam, a policy analyst from the Royal Academy of Cambodia, emphasized this point: “We recognized India’s strong reputation in technology among developed nations. However, when compared to China, China has made greater strides in digital development.” While China has dominated in physical infrastructure, India’s strength lies in the digital and technological realms.

India’s ambition to play a larger role in Cambodia’s digital growth is evident in its plans to launch a robotic space station by 2028. The Indian Space Research Organisation (ISRO) has already made significant strides in space exploration, and its achievements reflect the country’s broader goals of advancing technology on the global stage. Cambodia, with its growing digital infrastructure needs, could benefit from India’s expertise in both digital governance and technological innovation.

The Future of Cambodia-India Cooperation

Looking ahead, the partnership between Cambodia and India is likely to grow stronger, particularly in the digital sector. Dr. Tech believes that the next five years should focus on five key areas of cooperation: capacity building, knowledge transfer, joint projects, increased investment in Cambodia’s tech sector, and educational opportunities for Cambodians to study IT in India. These initiatives will not only accelerate Cambodia’s digitalization but also create a foundation for long-term economic development.

As India continues to push its technological boundaries, its collaboration with Cambodia will be instrumental in helping the Kingdom achieve its digital goals. With India’s vast experience in IT and Cambodia’s ambition to become a digital hub in the region, the future of this partnership looks promising.

What Do You Think?

As Cambodia and India strengthen their digital collaboration, many exciting developments are on the horizon. From IT infrastructure to digital payments and education, this partnership has the potential to transform Cambodia’s economy. What are your thoughts on Cambodia’s digital future? How do you think India’s involvement will shape the Kingdom’s digitalization efforts? Share your opinions and join the conversation on the future of Cambodia’s digital transformation.

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Angkor TimesExperienced

Asked: April 19, 2021In: Money

Is Buying a Condo in Cambodia a Good Investment?

In recent years, the Kingdom of Wonder, Cambodia, has seen a steady increase of value being put into the real estate and land markets. Whether it is in the form of buying and selling land, houses, apartments, or of course, condominiums, Cambodians and expats alike are eager to get their hands on the bustling market which is property. However, in the last year, the value of said market has been fluctuating quite a bit, as are the resulting effects of the recent and still ongoing Covid-19 pandemic. As such, the answer to the question, “Is buying a condo in Cambodia a good idea?” is not so clear cut anymore. So let’s take a look at some of the pros and cons of investing in a condominium.

Independence monument of Cambodia

Condominiums

To begin with, I should probably explain exactly what a condominium is. To put it simply, a condominium, or condo for short, is a type of housing that is similar to an apartment. This means that like an apartment, a condo is a set amount of living space that resides in a larger communal building. However, unlike an apartment, condominiums within a communal building are not all owned by one central owner or company, rather, each condo belongs to the individual who purchases it.

Personal Benefits

Before we go and take a look at the financial benefits and detriments of purchasing a condo in the current housing climate of Cambodia, let’s look at some of the personal benefits that might arise from buying a condo. This basically means any benefits that might befall you if you purchase a condo that affect you and your family on a more personal level.

In terms of purchasing a condo, the benefits are similar to those you would get if you were to purchase housing. These benefits are the simple ones in nature. You would have a nice place for you and your family to inhabit, if ever that were your intentions with the purchase. On top of that, you would also be reaping the benefits of living in a communal building, which includes safety and security, communal facilities such as swimming pools, restaurants, and even mini marts if the building your condominium resides in happens to have them.

If you are looking just for a living space for you and your family, and you can afford a condo, then there are quite a few benefits mentioned above that might interest you.

Financial Detriments

Of course, with every purchase, there comes benefits and detriments along with the decision. In terms of purchasing a condominium, there are a few detriments that will come along with it as well.

One such issue and fault of such a purchase would be the obvious large price tag that it brings with it. As with many and most properties on the market, the money that it would take to make the purchase is a rather large amount. In addition, the rate at which the prices of condominiums rise is rather slow in pace, meaning that it would take a while for you to be able to turn a profit. This means that unless you are already financially stable enough to make a purchase and still afford to live comfortably, buying a condominium would be rather difficult. Finally, there is the issue that is staring us in the face, the fact that the housing market prices have been lowered substantially due to the covid19 pandemic, making the climate risky and unpredictable.

While this might make it seem like there are merely a few problems with the idea of purchasing a condo, the fact that the barrier is a high price means that a lot of people would be unable to partake in the condominium buy and sell market.

Financial Benefits

Moving forward, we will finally take a look at some of the things that would make a purchase of a condominium a good choice.

To begin with, the housing market is one that has seen steady growth in Cambodia, so if you were to throw your hat into the ring in this regard, you are almost guaranteed to pull in quite a lot of profit from your purchase. Furthermore, the low prices that are the results of the pandemic could be both a blessing and a curse, meaning that if ever you so wish, you could sweep in and buy property at low prices, only to sell them for a higher margin once the prices shoot back up. Not to mention the stability of the housing market coming from the fact that there will always be people who will be looking for living space, making it so that you would never have to fear your purchases not turning a profit.

Conclusion

In the end, there are some barriers that would make purchasing a condo a bad idea, such as the high price and the current climate of the housing market. This would mean those people who aren’t financially suited for such endeavors would not be able to join in the rin. However, a purchase of a condominium also brings with it a myriad of benefits, such as a stable increase in price and a stable market base for the price to grow, not to mention the personal benefits that befall you and your family with the purchase. So is buying a condo a good decision? Well, if you’re someone who has the funds and patience to afford to wait for the benefits to arrive, then certainly so.

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Kun KanhaExperienced

Asked: May 11, 2021

What are the best banks for expats in Cambodia?

Currently in Cambodia is very safety for expats who wish to live in Cambodia for a couple of month or spending their holiday in this kingdom of wonder. The service in Cambodia all use ATM and also accept by cash. Using the ATM card is really safety and comfortable for expats who has no experience in Cambodia and don’t want to use cash. Safety is a must for foreigner and the best way for purchasing something in reliable and safety. In Cambodia nowadays, the banks is in a competition and all are truth and easy to use the service, but not all the banks in Cambodia has everywhere. Sometimes it has only in the city, thus before using the bank account you must think where it has.

1. ACLEDA Bank Plc

ACLEDA Bank Plc. was founded in 1993 under the Banking and Financial Institutions Law of the Kingdom of Cambodia. ACLEDA is the largest local commercial bank in Cambodia with 262 branches are active in all province and town of the Kingdom of Cambodia. Beside of Credits and Savings services ACLEDA Bank has provided Funds Transfers Services locally and internationally through Western Union^® and SWIFT. If you’re interested in ACLEDA bank you can contact them directly to ACLEDA BANK PLC. HEADQUARTERS by the contact number 023 998 777, 023 430 999 or by email: [email protected].

2. ABA bank

ABA Bank is a widely bank in Cambodia and especially you can
Open your first ABA account right through ABA Mobile in a few minutes. No paperwork, no branch visits and no queues and simply launch ABA Mobile on your smartphone and transfer funds abroad without visiting ABA branch! It’s an easy, faster and reliable bank that we can truth almost 15 years. Here is the contact number 023 225 333.

3. Canadian Bank

Canadian Bank is a local bank established since 1991 and currently has around 60 branches all in Cambodia. A special way is you can access your accounts at any time via internet and mobile banking platforms. Canadian is the most established and largest bank in the Kingdom of Cambodia which you can truth, and no matter where you are in Cambodia Canadian Bank is everywhere. The head office is located in Preah Ang Duong Street 110, 12000 Phnom Penh Cambodia and you can contact them via 023 868 222.

4. Vattanac Bank

Vattanac Bank is a retail and commercial bank of Cambodia. It published since 2002 and currently has 20 bunches in countryside and Phnom Penh city. Vattanac Bank such a business bank which you can loan for run your own business, deposit, business account to help you manage your business affectivity. The head office is located at No. 66, Preah Monivong Blvd. Sangkat Wat Phnom, Khan Daun Penh, Phnom Penh, Cambodia. You can contact by this number +855 (0) 23 999 900 or email: [email protected] .

5. Cambodian Public Bank Plc

Cambodian Public Bank Plc provides commercial banking services. The company offers trade and credit financing, foreign exchange, Internet banking, electronic credit payment, and fund transfer services. Additionally, its products include saving and current accounts and credit and debit cards.The bank was published by 1992 and its head office is currently in Phnom Penh which located in No. 23, Kramuon Sar Avenue (Street No. 114) Sangkat Phsar Thmey 2 Campu Bank Building Khan Daun Penh Phnom Penh, 12101 Cambodia contact number by 023 428100.

What are the best banks for expats in Cambodia?

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1. ACLEDA Bank Plc

2. ABA bank

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4. Vattanac Bank

5. Cambodian Public Bank Plc