Chinese own more than 90% of Sihanoukville businesses, says report
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Re: Chinese own more than 90% of Sihanoukville businesses, says report
One option, but I dont know much about them other than someone high up in Canadia bank runs it but I dont think its part of Canadia Bank.Kammekor wrote: ↑Thu Jul 04, 2019 10:38 am
The vast majority can't afford Cambodian citizenship, but you only need one. And the vast majority can afford to buy a (small) piece of land in Cambodia, at least at the prices common a few years ago.
I can imagine the one with citizenship thinks of some creative construction to buy land, and hand it over in a way acceptable for the Chinese. Chinese are really keen on buying land because it's not allowed in China.
http://canatrust.com.kh/en/service-exam ... e=11&qid=1Private Client Services
Mr. Zhang is a foreigner. According to Cambodian Laws, foreigner is not allowed to own landed properties in Cambodia (exception is provided for property building – 1st floor and above).
Solution: CANA TRUST, a trustworthy local Cambodian company holds the landed property in trust for Mr. Zhang in accordance with the agreed terms and conditions of the trust agreement. Mr. Zhang may engage CANA TRUST to manage the landed properties such as rental collection from tenants, paying utilities bills, disposal of the landed properties etc.
- frank lee bent
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Re: Chinese own more than 90% of Sihanoukville businesses, says report
Not all are rich by any means. One guy I know in Sville sells soup by delivery. He came by land via Laos and has no passport. Things are not so good for him but he can't go back as he fears arrest because of his undocumented status.
He is in a pretty bad way
He is in a pretty bad way
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Re: Chinese own more than 90% of Sihanoukville businesses, says report
davegorman wrote: ↑Thu Jul 04, 2019 10:32 amDefine “a lot”?ozguyinshv wrote: ↑Thu Jul 04, 2019 7:22 amI worked for one of these big companies in shv. A lot of the chinese there have purchased cambodian citizenship so they can own land, buildings etcdavegorman wrote: ↑Tue Jul 02, 2019 10:53 am Wow that’s shocking. But not really.
99.9% of the businesses are on Cambodian owned land or Cambodian owned buildings leased to the Chinese. (I don’t know. Maybe 90% or 100%, but a lot)
One day they will yank the carpet away. You’ll see.
The vast majority, which is “a lot”, don’t or can’t or don’t want to.
Well it may not be a 'lot' in terms of numbers.Maybe that was incorrect. I guess I should have clarified - I am talking about the big investors.Not a hair salon owner or restaurant owner.
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Re: Chinese own more than 90% of Sihanoukville businesses, says report
Yes true. We also had some chinese staff who were on $800 - $1,000USD a month doing online gaming support. They are mostly from rural areas of china.frank lee bent wrote: ↑Thu Jul 04, 2019 11:07 am Not all are rich by any means. One guy I know in Sville sells soup by delivery. He came by land via Laos and has no passport. Things are not so good for him but he can't go back as he fears arrest because of his undocumented status.
He is in a pretty bad way
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Re: Chinese own more than 90% of Sihanoukville businesses, says report
You can actually become an honorary citizen if you invest a certain amount of money into businesses in the country. This used to be around $300,000 but was recently upped to around $1 million.
https://www.realestate.com.kh/guides/Fo ... -Cambodia/
https://www.realestate.com.kh/guides/Fo ... -Cambodia/
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