Can foreigners buy property in Cambodia? This is the question asked by every non-Cambodian citizen who is looking to buy property in the country. The good news is that the answer is yes – foreigners can buy property in Cambodia. However, there are certain restrictions you have to abide by. Below we look at how foreigners can buy property in Cambodia.
Buying a Condo in Cambodia
The simplest way for a non Cambodian citizen to purchase a property in Cambodia is to buy a strata title, or in simpler terms a condo. In 2010, the Cambodian government introduced strata title, as a form of property that could be purchased by those buyers who do not possess a Cambodian passport. This generated a rise in demand for condos in Cambodia that also saw an increase in prices.
If the title for the property was registered as a strata title after 2010 and is above ground floor then as a foreigner you can purchase the title legally in Cambodia.
However, there are legal ways that a non Cambodian citizens can purchase land in Cambodia, as well as ground floor property.
Open a Trust Fund
One relatively simple way is that you open a trust fund and purchase the property title in the name of the trust find, under the Trust Law.
Another way for foreigners to purchase property in Cambodia is to hold the property title with a legal firm in Cambodia using the nominee structure.
Alternatively you can keep the sub-divided property with the sales purchase agreement (SPA) without actually transferring the name on the title. In this way the title remains with the nominee name, or the borey company name, but the buyer has the SPA contract to prove ownership.
Advantages of Nominee Structure
The benefits of adopting the latter approach are clear. It allows foreigners to purchase property legally in boreys in Cambodia. As you can see from other articles on this site, purchasing a property in a borey represents excellent value for money as well as great investment potential. This way you can avoid the inflated prices of downtown Phnom Penh and its condo market.
Before you consider purchasing property in Cambodia as a non Cambodian citizen we suggest you consult our team at Borey Williams for advice on how to go about it.