In November, the ASEAN Summit was successfully held in Cambodia, gathering heads of state of ASEAN, China, the United States, Japan, the Republic of Korea and other countries. As the organizer, Cambodia's trade and investment environment has attracted much attention. In fact, Cambodia passed a new investment law as early as 2021, and in July 2022, Cambodia's Second Home (CM2H) program was adopted to promote trade and investment cooperation between countries.
Among them, the Cambodian Home Plan includes 8 major supporting benefits, namely: 10-year membership of Cambodian Homeland Charity Association; 10-year Golden Visa; Cambodian company registration, work documents and bank accounts; Have an officially recognized real estate project; medical coverage; Apply for a Cambodian driver's license; opening a trust account (if required); Immigration visas, airport pick-ups and Phnom Penh tours.
So, how to apply for the Cambodian Home Program and what are the requirements? Compass Find a room for you to answer!
I. Cambodian Home Plan 10-year Golden Visa Investment Immigration Requirements:
1. Applicants must be citizens of countries or regions recognized by the Cambodian government, regardless of race, religion and gender;
2. Applicants must be approved by the Ministry of the Interior;
3. Applicants must be at least 18 years old;
4. The applicant must invest not less than US$100,000 in Cambodia;
5. The applicant must hold a government-approved real estate project in Cambodia;
6. Applicants can apply for personal bank account and trust account;
7. Applicants do not need language proficiency and proof of academic qualifications.
II. Cambodian Home Plan Process:
Step 1: Verify the process
- Complete the registration form and application form
- Submit a copy of your ID and background proof:
Academic and professional certificates
National identity card
National passport
5 photos (passport photo size)
All family members submit the above information (if any)
Step 2 Application process
- Submit a certified copy of the following
Certificate or license of all companies (if any) of the applicant holder
One year's detailed bank statement
Proof of income
Name of the asset or certificate of possession (if any)
Marriage certificate (if any)
Child's birth certificate (if any)
Cambodia Home Programme applies for a receipt
Medical report
Step 3 Approval Process (7-14 days)
- Approval and approval processes
Step 4 Prepare for relocation
- Upon approval, submit the Cambodian Home Scheme receipt
- Obtain membership numbers for Homeland Cambodia and Homeland Cambodia Programme
- Get accommodation advice (if needed)
- Advice on obtaining business registration (if required)
- Get educational advice (if needed)
- Opening a local bank account and documents in Cambodia
- Obtaining patent business registration in Cambodia
- Get a Cambodian visa for 10 years
- Get a membership card for the Cambodian homeland program
Step 5 Move to Cambodia
- Accommodation arrangements (if required) (immediate upon arrival)
- Obtain a Cambodian medical insurance certificate (insured immediately upon arrival)
- Immediate Cambodian business qualification (immediate upon arrival)
- Obtain a labor certification in Cambodia (30 days after arrival)
- Get a Cambodian student visa (30 days after arrival)
- Obtaining a real estate project certificate (30 days after arrival)
3. Cambodia's investment advantages:
1. Freehold
Cambodia's Law on Foreigners' Property Rights allows foreigners to legally own property in Cambodia (private part above the first floor). Among them, the strata title is freehold, which is allowed to be held by foreigners and leased for sale.
2. GDP growth is fast
In recent years, Cambodia's GDP growth rate has averaged 7%, ranking first among ASEAN countries. Even under the impact of the pandemic, Cambodia continues to achieve strong economic growth.
3. Demographic dividend
The average age of Cambodia's population is 25.6 years old, of which 70% of the total population is under the age of 34, and the population is relatively young, and the labor force is sufficient until 2070. At present, Cambodia has a foreign population of more than 1 million and embassies of 29 countries, and is an international city, with many multinational enterprises and a dense number of permanent foreign staff in Phnom Penh.
4. There are no foreign exchange controls on US dollar assets
Cambodia is the only country in Southeast Asia that uses the US dollar as the main currency, and there are no remittance restrictions, and the time deposit interest rate is 4.5%-6.5% per annum, which is very attractive from a financial point of view.
5. ASEAN core countries and "Belt and Road" core countries
Cambodia is located in the strategic position of the ten ASEAN countries, but also an important node of the "Belt and Road" and a necessary place for the eastern route of the "Trans-Asian Railway", Cambodia's economic and trade exchanges will be more convenient in the future, which will greatly enhance the momentum of Cambodia's economic development.
6. A large amount of foreign investment has entered
Cambodia implements an open and free market economic policy, labor resources are abundant and the cost is low, and investors from all over the world have entered Cambodia. Cambodia's new investment law came into effect in 2021 to further optimize the business environment and attract foreign investors.