How to secure your rights as a foreigner when purchasing land in the Kingdom of Cambodia.
It is well known that foreigners are not allowed to own land in Cambodia. Only from the first floor up a foreigner is entitled to have property in the Kingdom of Cambodia (condominiums).
But there are ways to achieve the goal of securing your ownership on land.
These ways depend on the size of your investment and the objectives of your purchase.
Khmer citizenship
If you become a Khmer citizen, any land purchase will be legal. Yet, this is a very costly way. To become a Khmer citizen, you have to comply with certain regulations and fulfill special demands. Here, our law firm is able to guide you through the process of obtaining a Khmer citizenship.
Khmer Company
A Khmer company can purchase land if the company is registered at the Ministry of Commerce. Still, 51 % of the shares have to be Khmer owned and only 49 % can be in your actual property. Our legal team can draft a tough agreement with the Khmer shareholders, obtain permanent and unlimited Power of Attorney over the land, get a waiver right of the land signed by the Khmer shareholders and have the paperwork notarized and legalized. Also, we can do a variety of agreements with the Khmer shareholders (Long time Lease Agreement, Credit/Mortgage Agreement etc.) to secure your rights.
Long time Lease Agreement
There is the possibility to rent longtime in the Kingdom of Cambodia. A 70 years period is a quite easy way to secure your rights and keep your costs limited.
Through a Khmer citizen
A Khmer citizen can buy any kind of land on your behalf. Yet, in this constellation, it is even more important that you secure your rights as much as possible since it is hard to find a person that trustworthy. The Agreements (very similar agreements to 2nd solution, a Khmer Company) you need to have with this person really need to be done by a professional.