Cambodia is regularly voted to be one of the best countries in the world to retire to, as well as the top choice in Asia. So what is it that makes Cambo such a great choice for oldies?
According to International Living’s Annual Global Retirement Index, Cambodia was most recently voted the 12th best place to retire to on the planet, below heavy hitters like Spain and France and relative surprise destinations like Colombia and Uruguay.
What is it though that makes it so good? Two main reasons basically, the cost of living and ease of visa.
Retiring in Cambodia – Cost of living
Cambodia is a cheap place to rent property. A “decent” apartment might set you back $300 monthly or so in the capital. Move up to $500 plus and you’ll be “stylin’ it” at a serviced apartment with a gym and a pool. Take the leap to $1000 plus and you will truly be living the good life. Rents in Cambodia are on average 62.39% lower than in United States according to Numbeo, a site that measures cost of living.
And it gets cheaper when you move out into cities like Siem Reap or Kampot. Sihanoukville would be the exception to the rule. That said, higher rents rank fairly low on the “Why in god’s name would you want to live in Sihanoukville?” meter.
Foreigners are permitted to own condo’s in the country, although not land. Costs obviously vary a lot, but in Phnom Penh a studio apartment can be purchased for as little as $50-60k in “decent” developments.
If you do have a decent chunk of change in hand then it might be worth going for citizenship by investment, which would allow you to own land just like a local.
When it comes to the general cost of living? Alas we cannot go by the Big Mac Index as there are no McDonalds locations in Cambodia. But the beer index shows you can get a draft for 50 cents by the Riverside. Read into that what you will.
To read why McDonalds is not in Cambodia, click here.
How do you get a Cambodia retirement visa?
The second main lur ein attracting retirees is the ease of visa in the Kingdom. Anyone who has lived in China can only stand mouth gaping when they discover how simple a process acquiring a retirement visa is in Cambodia. The requirements for a retirement visa are as follows
- You must be 55 or older.
- You cannot be employed.
- Be able to prove you are retired, as well as proof of income or funds to support yourself.
Initially you come to Cambodia on an E Visa (business), before transferring into an ER (retirement visa). Unlike other locales there does not seem to be a high, or hard and fast monthly financial requirement. The visa itself costs $290 a year.
Retiring in Cambodia – Healthcare
Healthcare tends to be more of a priority for older folk coming to the Kingdom for their twilight years. And the healthcare situation here is best described as mixed. In Phnom Penh there are high-end hospitals with English speaking staff, but far fewer in other parts of the country.
Insurance-wise there are lots of options. Standard expat plans can run from $50-120 monthly, but this varies massively based on your own personal health. Smoker with pre-existing conditions? Think more like $300-$400 monthly.
Mediations are also really cheap, with many that would need to be prescribed in other countries simply being available over the counter in Cambodia.
On the negative side Cambodia is still a developing country so should you have a serious condition that requires treatment? Getting your butt elsewhere isyour best option.
Where is the best place to retire in Cambodia?
Phnom Penh is the most popular place to retire quite simply because it has the biggest array of stuff to do as well as the aforementioned hospitals. Next on the list would be Siem Reap and Kampot, both of which have vibrant social scenes, hospitals and cheap beers.
Sihanoukville? Forget about that unless you are Chinese. And the nearby islands option? While beautiful, they have very little infrastructure and should only really be considered if you are truly fighting fit.
Read more: Khmer Nights