Beachfront Land for Sale in Koh Rong Main Beach 1000 sqm

Yes... we are absolutely interested in your $50,000 bar for sale with 3 stools and no customers.
Dunderhead
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Re: Beachfront Land for Sale in Koh Rong Main Beach 1000 sqm

Post by Dunderhead »

There is a whole lot of difference between large corporations from Korea, Japan and China investing in land to do business and an individual barang buying land under a company name.
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Re: Beachfront Land for Sale in Koh Rong Main Beach 1000 sqm

Post by truffledog »

basta.binici wrote: Sun May 17, 2020 8:26 am
Nominee fee is $100-1000 one time payment. However better is to go through the leagl way and setup a company. 100% safe. Foreign companies invest 100s of millions, even billions to Cambodia. If you don't be lazy and do everything legally, then you won't have a problem concerning safety of property. Buy hard title land in the name of your company and sign at the land department.
[/quote]

If its 100% safe you sure give your ALL your clients a payback guarantee in case things dont work out. NOT
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Re: Beachfront Land for Sale in Koh Rong Main Beach 1000 sqm

Post by Dunderhead »

Just looked up the Relevant laws on Google. The company must be 51 percent owned by a cambodian citizen. Nominee structures to get around this are illegal. The only legal way is to set up a long term (50 year lease ) and lease the land. The Op's assertion that you can own the land through setting up a company are false.
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Re: Beachfront Land for Sale in Koh Rong Main Beach 1000 sqm

Post by Element6 »

basta.binici wrote: Sun May 17, 2020 8:26 am
Element6 wrote: Fri May 15, 2020 3:01 pm
WildA wrote: Fri May 15, 2020 11:09 am
Anybody who would even pay 20 large for a cambo passport is either Chinese, North Korean, red noticed or just plain stupid.
Agreed if you are doing it just to be a regular citizen. However if you are doing property deals where the usual fee for a nominee is 3% of sales price you dont have to do many deals to make it pay (at old prices) for itself and to eliminate the potential fraud issues alluded to earlier.

Another reason (when it was much cheaper) would be to ensure a secure future in KOW without having to worry about future changes to requirements that could affect your right to remain.

If the government suddenly mirrored the Thai requirements there may be several people who could no longer prove their eligibility to remain, although in all honesty they probably couldnt have afforded $20k for a passport ever mind higher prices.

The final and surely most compelling reason is you get to pay the Khmer rate for your cintri garbage collection instead of the inflated foreigner one. That alone would pay for a $20k Cambodian passport in about 90 years :lol:
Nominee fee is $100-1000 one time payment. However better is to go through the leagl way and setup a company. 100% safe. Foreign companies invest 100s of millions, even billions to Cambodia. If you don't be lazy and do everything legally, then you won't have a problem concerning safety of property. Buy hard title land in the name of your company and sign at the land department.
Not in any of the deals I have been privy to (5 with personal involvement and multiple more via a good friend who has been a nominee 10's if not 100's of times). Usual upfront payment was $1.5k and 3% of sales price when property eventually sold.

All went smooth as silk for everyone involved.

Heard many horror stories of nominees refusing to sell without being paid off. Even know of one property where the nominee took it over and refused to give most of the profit to the owner (probably some very bad paperwork). Hard for someone to accept a few $100 when they see the property they are nominee for has increased by 100's of $k's or more
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Re: Beachfront Land for Sale in Koh Rong Main Beach 1000 sqm

Post by basta.binici »

Dunderhead wrote: Sun May 17, 2020 6:46 pm Just looked up the Relevant laws on Google. The company must be 51 percent owned by a cambodian citizen. Nominee structures to get around this are illegal. The only legal way is to set up a long term (50 year lease ) and lease the land. The Op's assertion that you can own the land through setting up a company are false.
The buyer (foreigner) will be the manager and the director of board of the company. You can select 2 Cambodian shareholders with 25% and 26% each and make them unable to sell their share or to vote, or to change anything, etc. Or you can just select one partner and limit his/her rights. All process is safe. They can't play behind this company thing.
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Re: Beachfront Land for Sale in Koh Rong Main Beach 1000 sqm

Post by Dunderhead »

I understand that this nominee structure works in practice it may continue to work in future. Nevertheless it is not legal under the letter of the law.
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Re: Beachfront Land for Sale in Koh Rong Main Beach 1000 sqm

Post by truffledog »

basta.binici wrote: Sun May 17, 2020 8:31 pm
Dunderhead wrote: Sun May 17, 2020 6:46 pm Just looked up the Relevant laws on Google. The company must be 51 percent owned by a cambodian citizen. Nominee structures to get around this are illegal. The only legal way is to set up a long term (50 year lease ) and lease the land. The Op's assertion that you can own the land through setting up a company are false.
The buyer (foreigner) will be the manager and the director of board of the company. You can select 2 Cambodian shareholders with 25% and 26% each and make them unable to sell their share or to vote, or to change anything, etc. Or you can just select one partner and limit his/her rights. All process is safe. They can't play behind this company thing.
again..is there any money back guarantee from your side to sustain your 100% safety guarantee? Laws can be easily changed if it just needs one man to decide on whats "law" tomorrow. There is not a lot of sympathy for barangs in court against locals. A few envelopes given to the right men wll change the outcome of (m)any court decision. The locals know how to play that game much better than any barang will ever do.

IMHO you are just fishing for the unexperienced investor (or few times visitors) who are (yet) blind to see the real threats and opportunities of buying this type of land and also giving false signals (or not mentioning them) when it comes to the risks of such an investment just to make cut. I bet there wll be no help from your side if a serious dispute should arise. Buying such a property with such a price tag in the knowledge of ALL circumstances is solely for the adventurous gambler and NOT for the guys who want to play it safe.
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Re: Beachfront Land for Sale in Koh Rong Main Beach 1000 sqm

Post by ash333 »

truffledog wrote: Mon May 18, 2020 1:38 am
basta.binici wrote: Sun May 17, 2020 8:31 pm
Dunderhead wrote: Sun May 17, 2020 6:46 pm Just looked up the Relevant laws on Google. The company must be 51 percent owned by a cambodian citizen. Nominee structures to get around this are illegal. The only legal way is to set up a long term (50 year lease ) and lease the land. The Op's assertion that you can own the land through setting up a company are false.
The buyer (foreigner) will be the manager and the director of board of the company. You can select 2 Cambodian shareholders with 25% and 26% each and make them unable to sell their share or to vote, or to change anything, etc. Or you can just select one partner and limit his/her rights. All process is safe. They can't play behind this company thing.
again..is there any money back guarantee from your side to sustain your 100% safety guarantee? Laws can be easily changed if it just needs one man to decide on whats "law" tomorrow. There is not a lot of sympathy for barangs in court against locals. A few envelopes given to the right men wll change the outcome of (m)any court decision. The locals know how to play that game much better than any barang will ever do.

IMHO you are just fishing for the unexperienced investor (or few times visitors) who are (yet) blind to see the real threats and opportunities of buying this type of land and also giving false signals (or not mentioning them) when it comes to the risks of such an investment just to make cut. I bet there wll be no help from your side if a serious dispute should arise. Buying such a property with such a price tag in the knowledge of ALL circumstances is solely for the adventurous gambler and NOT for the guys who want to play it safe.
Investing in land in a third world country with limited ownership rights for non citizens and a hideously corrupt judicial system isn't playing it safe. (no sh1t)
Safe investments return tiny percentages whereas whomever purchases this plot will do so in the expectation of large capital gain rather than a small but regular income.
You're just not comparing apples with apples.
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Re: Beachfront Land for Sale in Koh Rong Main Beach 1000 sqm

Post by WildA »

basta.binici wrote: Sun May 17, 2020 8:31 pm
Dunderhead wrote: Sun May 17, 2020 6:46 pm Just looked up the Relevant laws on Google. The company must be 51 percent owned by a cambodian citizen. Nominee structures to get around this are illegal. The only legal way is to set up a long term (50 year lease ) and lease the land. The Op's assertion that you can own the land through setting up a company are false.
The buyer (foreigner) will be the manager and the director of board of the company. You can select 2 Cambodian shareholders with 25% and 26% each and make them unable to sell their share or to vote, or to change anything, etc. Or you can just select one partner and limit his/her rights. All process is safe. They can't play behind this company thing.
Until they change the rules.

If there is no rule of law, there is no protection.
Naturam expelles furca, tamen usque recurret. Horace
Just because you are paranoid doesn't mean they arent out to get you. Pynchon
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Re: Beachfront Land for Sale in Koh Rong Main Beach 1000 sqm

Post by Element6 »

Dunderhead wrote: Sun May 17, 2020 9:20 pm I understand that this nominee structure works in practice it may continue to work in future. Nevertheless it is not legal under the letter of the law.
agreed, and if I remember correctly Thailand went after a lot of people using this structure a few years ago and people found themselves in trouble, don't hear so much about it these days so not sure if they have relaxed again. I believe they also went after a lot of land holding companies as whilst it is legal to have a land holding company, it is illegal to have one that is used solely for the purpose of allowing a foreigner to own land. They looked at companies with foreign ownership element and no economic activity and chased after them. So even that route is not 100% safe if Cambodia were to adopt the same viewpoint
ash333 wrote: Mon May 18, 2020 3:07 am Investing in land in a third world country with limited ownership rights for non citizens and a hideously corrupt judicial system isn't playing it safe. (no sh1t)
Safe investments return tiny percentages whereas whomever purchases this plot will do so in the expectation of large capital gain rather than a small but regular income.
You're just not comparing apples with apples.
I think this is an important point. With careful (and lucky) investment in Cambodia property gains of multiples of the original investment can be had. Go speak to people who bought land in Sihanoukville years ago or Kep and Kampot more recently. I remember being offered a beachfront plot (in Otres 2 on the left of secret garden when looking from the sea for those who know) around 2013 (I think) for $500k. Not sure of the value now but suspect it it is in the several $M's (didn't buy it as it seemed WAY too expensive at that time - doh). Bought land and property in Kep at $8/m2 3 years ago and neighboring land just sold for $70/m2. Bought a double width, double height river front apartment in PP in 2013, i would be lucky to get my money back on that one (if I could even find a buyer).

The risk/reward ratio is different for everyone and what seems like a crazy risk for someone is a manageable and acceptable risk for someone else. I never gamble as it seems too risky for me, but i bought several properties in Cambodia as it seemed like an acceptable and manageable risk. If this risk isnt for you then try to find another one that ticks your boxes (gold, bitcoin, stocks, etc). Different strokes for different folks.
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