Opening bank account for non residents

PSD-Kiwi · Post by **PSD-Kiwi** » Mon Sep 17, 2018 5:29 pm

armchairlawyer wrote: ↑Mon Sep 17, 2018 3:17 pm
PSD-Kiwi wrote: ↑Mon Sep 17, 2018 12:39 pm
For tax purposes, people are considered residents of Cambodia if they have a principal place of abode in Cambodia or are present more than 182 days in the country in any 12-month period ending in the current tax year.

The quote is from where?

Chapter 1, Section 1, Article 3 of the Cambodia Law on Taxation

ARTICLE 3: DEFINITIONS For the purposes of the tax provisions:

1. The term “resident taxpayer” means:

a. any physical person who is domiciled in or has a principal place of abode in, the Kingdom of Cambodia, or who is present in the Kingdom of Cambodia on more than 182 days during the calendar year;

b. any legal person or pass-through organized or managed in the Kingdom of Cambodia, or having its principal place of business in the Kingdom of Cambodia. A permanent establishment shall be considered a resident legal person with respect to its Cambodian source income only.

PSD-Kiwi · Post by **PSD-Kiwi** » Mon Sep 17, 2018 5:31 pm

that genius wrote: ↑Mon Sep 17, 2018 4:29 pm
PSD-Kiwi wrote: ↑Tue Dec 23, 2014 9:59 pm ABA didn't require proof of address in Cambodia when I opened my account with them (although I provided it anyway), just a local phone number was sufficient. Acleda and Canadia both required proof of address.
Desperation or good practise?

Fucked if I know, was about 7 years ago.

Equinix · Post by **Equinix** » Sat Oct 06, 2018 12:11 pm

Thought I would share this.

Spend a few days trying to raise my daily limit of my Aba visa card

Found out something in regards of the union pay and basic visa card.

You can use either of them only 5 times a day. Regardless of your daily limit..

(once had a payment not go through on grab and wondered why as I had enough cash in the account. Seems it was because I already used the visa card 5 times. I asked why this was the case. Their response. Too protect our customers. Strange

)

khmerre · Post by **khmerre** » Sun Oct 07, 2018 7:05 pm

I live abroad but visiting a few times per year Cambodia

it would be useful for me to have an account in Cambodia that I can use through an app too.

Is possible as non resident to open an account by ABA or any other bank in Cambodia ? any recent experiences ?

khmerre · Post by **khmerre** » Tue Nov 13, 2018 10:43 pm

I can confirm, that it is possible for a non resident to open an account by ABA. You have to deposit at least 100 usd.

kaya14 · Post by **kaya14** » Sun Dec 09, 2018 9:48 pm

Given the high withholding tax rate, why do you choose to still maintain a bank account in Cambodia?

davegorman · Post by **davegorman** » Sun Dec 09, 2018 10:06 pm

I don’t think he’s concerned on the interest he’d accrue on $100.
Some people like to keep an account here for when they come over.

Tax on Interest deposits is another matter, but ABA are only about .04% on a current account.

StroppyChops · Post by **StroppyChops** » Sun Dec 09, 2018 11:55 pm

khmerre wrote: ↑Tue Nov 13, 2018 10:43 pm I can confirm, that it is possible for a non resident to open an account by ABA. You have to deposit at least 100 usd.

$50.

https://www.ababank.com/savings-account/

oopsfermi · Post by **oopsfermi** » Mon Dec 10, 2018 12:43 am

Once I saw that I could withdraw $1000USD from an ATM and pay only $5 for the fee, the need to get the bank account more or less evaporated.

As a U.S. citizen I'm used to a 3% hit when pulling from the ATM when overseas. $5 for $1000 amounts to 0.5%. That's about the same as my paying $45 to wire $9000 to my bank accounts in Thailand or Philippines, which was the route I took previously.

And then of course, as a U.S. citizen, I'm bound to honor all of this FBAR/FATCA bullshit when opening bank accounts, which is neatly avoided here in Cambodia if I never open one.

So obviously if your source currency isn't USD you have other math to do but for me the math says fuck it and just do the ATM.

davegorman · Post by **davegorman** » Mon Dec 10, 2018 9:28 am

If you use ForEx companies you only pay about $10.

Opening bank account for non residents

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