As the cost of living and healthcare continue to rise in many parts of the world, more people are considering ways to secure their retirement plans.
Whether you are seeking to achieve the FIRE (Financial Independence, Retire Early) movement or reaching your golden age, Cambodia might be your next destination to spend your post-work life.
In this article, Realestate.com.kh will share a definitive guide on the ways to secure your future and invest in property in Cambodia through a Golden Visa.
What is a Golden Visa?
A "Golden Visa" is a type of visa that allows individuals to live and work in a foreign country for a set period of time, usually between one and ten years.
Golden Visas are typically offered to individuals who make a significant investment in the country, such as by buying property or starting a business. In Cambodia, a government-approved program provides a renewable 10-year visa that allows for unrestricted entry and exit to and from Cambodia.
How a Golden Visa Can Help
The visa program in Cambodia offers a pathway to residency for investors who meet certain criteria, such as investing at least $100,000 to be eligible and owning a government-approved Cambodian real estate project. Once you obtain a Golden Visa, you can live and work in Cambodia for up to 10 years, making it easy to manage your investments and secure your future.
In addition to providing a pathway to residency, a Golden Visa can also offer other benefits, Holders can apply without any additional costs.
- Eligible for Cambodian citizenship after five years.
- Professional assistance for company incorporation, bank account, trust account,
- Cambodian Driver’s Licence
- One year of free medical insurance in Cambodia
- Free VIP Access at the Cambodian Airports
- Access to Khmer Home Charity Association (KHCA) and Ministry of the Interior (MOI) networking activities and events.
Additionally, a Golden Visa can make it easier to travel in and out of Cambodia, as it eliminates the need for a visa on arrival.
Investing in Property in Cambodia
Investing in property in Cambodia has become increasingly popular over the past few years due to the country's growing economy, and the GDP growth rate has consistently remained above 7%. Furthermore, the Cambodian government has put in place measures to foster foreign investment, such as loosening limitations on property possession for non-Cambodian individuals. This includes authorising complete foreign ownership through strata title, which permits foreign ownership in jointly owned buildings.
Rental demand in Cambodia is one of the highest in the region, particularly in urban areas like Phnom Penh and Siem Reap, creating an opportunity for passive income. Finally, the country's growing tourism industry and urbanisation provide the potential for long-term capital appreciation.
All of these factors make Cambodia a compelling destination for property investors looking for potentially high returns and growth opportunities.
Cambodia is an attractive destination for retirees for many reasons. Located in Southeast Asia and known for its rich history, stunning natural beauty, and welcoming culture, it has emerged as a popular destination for those seeking an affordable and comfortable lifestyle.
It offers a diverse landscape for everyone, whether you're seeking a peaceful town like Kampot, a mesmerising destination like Siem Reap, the serene beaches of Koh Rong, or the vibrant city life of Phnom Penh.
The cost of living in Cambodia is relatively low compared to many other countries in Southeast Asia, which means that retirees can stretch their retirement savings further. Basic necessities such as food, accommodation, and transportation are affordable, particularly in rural areas.
In urban centres like Phnom Penh and Siem Reap, it can be higher due to the demand for tourism and expat services, but still comparatively cheaper than in Western countries. The local currency, Cambodian Riel, is the primary means of payment, but US dollars are widely accepted in many areas. The cost of living in Cambodia can vary depending on one's lifestyle and location.
Overall, it is possible to live comfortably in Cambodia on a modest budget, but it is important to do thorough research on living expenses before making any long-term plans. Retiring abroad can be an exciting and rewarding way to secure your future and invest in property. With its welcoming culture, affordable cost of living, and stunning natural beauty, Cambodia is an ideal destination for retirees seeking a comfortable and fulfilling lifestyle. And with the Golden Visa program, it is easier than ever to invest in property and secure your future in this beautiful country.