Thinking of buying property in Cambodia?
Buying property in Cambodia? Cambodia is an Asian country with rich culture and traditions, it is one of the best tourist attraction locations in the world. Owning a property in Cambodia, especially real estate is very difficult for foreigners. By their laws, foreigners are not allowed to own property directly. The real estate business in Cambodia is very promising, and foreigners are seeking for ways to invest in Real Estate in Cambodia. However, the law seems to limit foreigners investment.
In Cambodia, a foreigner is not permitted to rent the first floor of a building, but you can rent the whole of the building but not the first floor. While owning a land, or landed properties in Cambodia can be very difficult, they are ways to go around it as a foreigner.
By Marriage to a Cambodian
You can buy a land or landed properties in Cambodia as a foreigner if you get married to a Cambodian. You will have to buy the property in the name of your spouse as your spouse is a Cambodian citizen. However, when you have attained your citizenship status, the document of ownership can bear the name of you and your spouse.
Partnership With a Company in Cambodia
The best way to acquire land in Cambodia if you want to invest in real estate business is by going into partnership with a company in Cambodia. In this case, you invest with the name of the company as a partner in that company. The company must be owned and operated by a Cambodian. You can easily get into agreement with the company in how to invest and share the profit.
Register a Company in Cambodia
If you have a real estate company or run a franchise, you can open a branch in Cambodia and can purchase land through the company. But the condition is that at least 52% of shareowners of that company should be owned by Cambodian. The fear most people have is losing control of the company. But there are ways you can control the shares that you can remain the person with the highest percentage of shares and still run your company.
By Acquiring Honorary Citizenship
You can acquire land if you possess Honorary Citizenship which is preferred for people that have contributed to the economy or standard if living of the Cambodian people. You can acquire this status by donating a notable amount of money to any institution in Cambodia or do something very notable that will better the life of Cambodian people. With this status, you can acquire land directly as a Cambodian.
Direct Buying Through a Cambodian
You can easily purchase a land by using the name of someone who is a Cambodian. The person can stand as the buyer, though you are the original owner of the properties. The issue of trust is usually raised in this matter, but most times in this kind of arrangement, you will keep the deed of the properties. This deed will prevent the person whose name is on the properties for selling the land without your knowledge.