Proposed 2nd home program for foreign retirees in Cambodia

Anchor Moy · Post by **Anchor Moy** » Mon Jun 15, 2020 6:50 pm

Freightdog wrote: ↑Mon Jun 15, 2020 5:33 pm Could you or someone précis/recap the current basic retiree criteria for Cambodia?

To qualify for a ER EOS : You have to be aged 55 or over. You have to have enough money to pay for your visa. That's it. No letters and no bank accounts.

That information is 100% sure at time of writing. Like today. Maybe it will change in the future. TIC.
It is also possible (this is hearsay), that people under 55, who can produce some sort of official papers stating that they are retired, are also eligible for an ER.

Jerry Atrick · Post by **Jerry Atrick** » Mon Jun 15, 2020 6:55 pm

Anchor Moy wrote: ↑Mon Jun 15, 2020 6:50 pm
Freightdog wrote: ↑Mon Jun 15, 2020 5:33 pm Could you or someone précis/recap the current basic retiree criteria for Cambodia?

To qualify for a ER EOS : You have to be aged 55 or over. You have to have enough money to pay for your visa. That's it. No letters and no bank accounts.
That information is 100% sure at time of writing. Like today. Maybe it will change in the future. TIC.
It is also possible (this is hearsay), that people under 55, who can produce some sort of official papers stating that they are retired, are also eligible for an ER.

I know one guy in his later 40's who claims to have the ER EOS - but he's medically retired and I've never actually seen his visa - bartalk101

Anchor Moy · Post by **Anchor Moy** » Mon Jun 15, 2020 7:09 pm

Jerry Atrick wrote: ↑Mon Jun 15, 2020 6:55 pm
Anchor Moy wrote: ↑Mon Jun 15, 2020 6:50 pm
Freightdog wrote: ↑Mon Jun 15, 2020 5:33 pm Could you or someone précis/recap the current basic retiree criteria for Cambodia?

To qualify for a ER EOS : You have to be aged 55 or over. You have to have enough money to pay for your visa. That's it. No letters and no bank accounts.
That information is 100% sure at time of writing. Like today. Maybe it will change in the future. TIC.
It is also possible (this is hearsay), that people under 55, who can produce some sort of official papers stating that they are retired, are also eligible for an ER.
I know one guy in his later 40's who claims to have the ER EOS - but he's medically retired and I've never actually seen his visa - bartalk101

Thing is that the conditions have changed/tightened up since they first brought in the ER. When it was first introduced, there were no set conditions, and it was definitely possible to get an ER at age 50, and probably younger. The "rules" for getting an ER were so "flexible" in SHV, that if you didn't get what you wanted, then you changed travel agents. For the first year or so (after they came in) almost anyone could get one. So what this guy says about his ER might have been true in the past; be interesting to know if that is still working for him now.

Post by **Freightdog** » Mon Jun 15, 2020 7:14 pm

clutchcargo wrote: ↑Mon Jun 15, 2020 6:38 pm
Freightdog wrote: ↑Mon Jun 15, 2020 5:33 pm Could you or someone précis/recap the current basic retiree criteria for Cambodia?

While I’m not ready to retire yet (there’s potentially 2-15 years in this old nag before the glue factory beckons), if I qualified for the 2nd home program, it might be interesting.
My qualifications mean I can even continue training folk after I finish active flying, so a decent steady bankroll will exist.

The MM2H in Malaya was quite interesting to me a few years back, but things went a different direction.
I've been interested too in the Malaysian MM2H too in the past. The beauty with that scheme is that you don't have to be retired..albeit I understand the requirements are more stringent for <50. But from memory you get a 10 year renewable visa which I think would give you some comfort/confidence in purchasing a property.

Yes, it was a long visa. It required a bank bond of about $80k, I think. There were some fairly good tax incentives for doing so- import duty waivers on bringing own vehicles over. No income tax issues so long as your earnings were not inside the country. So in my case working overseas would have been fine. Annoyingly, I got an offer of a job which didn’t turn out as good as advertised. I think some of this has changed considerably.

It would be good if the Cambodia gubbinsment were to recognise that it is a place attractive to many, and that the barang isn’t just a Bunch of sex and alcohol focused leches.

The current restrictions on foreigners entering the kingdom seem to be at odds with the 2nd home concept.

Tarndog · Post by **Tarndog** » Mon Jun 15, 2020 7:26 pm

Anchor Moy wrote: ↑Mon Jun 15, 2020 6:50 pm
Freightdog wrote: ↑Mon Jun 15, 2020 5:33 pm Could you or someone précis/recap the current basic retiree criteria for Cambodia?

To qualify for a ER EOS : You have to be aged 55 or over. You have to have enough money to pay for your visa. That's it. No letters and no bank accounts.
That information is 100% sure at time of writing. Like today. Maybe it will change in the future. TIC.
It is also possible (this is hearsay), that people under 55, who can produce some sort of official papers stating that they are retired, are also eligible for an ER.

Not true. Letter needed.

Post by **Clutch Cargo** » Mon Jun 15, 2020 7:28 pm

Freightdog wrote: ↑Mon Jun 15, 2020 7:14 pm
clutchcargo wrote: ↑Mon Jun 15, 2020 6:38 pm
Freightdog wrote: ↑Mon Jun 15, 2020 5:33 pm Could you or someone précis/recap the current basic retiree criteria for Cambodia?

While I’m not ready to retire yet (there’s potentially 2-15 years in this old nag before the glue factory beckons), if I qualified for the 2nd home program, it might be interesting.
My qualifications mean I can even continue training folk after I finish active flying, so a decent steady bankroll will exist.

The MM2H in Malaya was quite interesting to me a few years back, but things went a different direction.
I've been interested too in the Malaysian MM2H too in the past. The beauty with that scheme is that you don't have to be retired..albeit I understand the requirements are more stringent for <50. But from memory you get a 10 year renewable visa which I think would give you some comfort/confidence in purchasing a property.
Yes, it was a long visa. It required a bank bond of about $80k, I think. There were some fairly good tax incentives for doing so- import duty waivers on bringing own vehicles over. No income tax issues so long as your earnings were not inside the country. So in my case working overseas would have been fine. Annoyingly, I got an offer of a job which didn’t turn out as good as advertised. I think some of this has changed considerably.

It would be good if the Cambodia gubbinsment were to recognise that it is a place attractive to many, and that the barang isn’t just a Bunch of sex and alcohol focused leches.

The current restrictions on foreigners entering the kingdom seem to be at odds with the 2nd home concept.

Yeah, I had this idea of making it a sort of a ''hub'' in Asia (either from KL or Penang) from which with the help of low cost AirAsia I could easily flit from one SEA country to another with minimal flying time. That was the idea anyway but never followed up on it.

PSD-Kiwi · Post by **PSD-Kiwi** » Mon Jun 15, 2020 8:56 pm

clutchcargo wrote: ↑Mon Jun 15, 2020 6:38 pm I'll defer to the expert on this @PSD-Kiwi but my understanding is that you just have to be over 60. That gives you a 12 month multiple entry visa extension renewable without leaving the country. Having said that, I recall reading some in their 50s got it too (perhaps with evidence of regular income) although maybe they've since cracked down on that.. I dunno. I renewed my retiree extension last December and I didn't have to provide any evidence of income but they can clearly see I'm over 60.

If aged 55+ you can apply for the ER (Retirement) EOS via a Visa Agent without the need to provide any supporting documentation.

If under 55 (or 55+ and applying directly at the DoI Visa Office) then you require supporting documentation. The youngest person I know of who has successfully obtained an ER EOS is an American Military Veteran in his late-20's.I know several in their 30's and 40's who also have successfully obtained an ER EOS...as long as you can prove that you are eligible then it is achievable.

Tarndog wrote: ↑Mon Jun 15, 2020 4:12 pm How does the current law work in Cambodia for expats who own 100% of say, a first or second floor apartment/condo.

If the Cambodian who owns the land wants to knock the building down and build a new one, what rights does an expat owner of a first or second floor condo have, and does the expat automatically get a unit in the new building?? What size? who pays relocation costs during time of teardown and rebuilding?

Foreigners can only legally own 100% of an eligible Strata-Titled property, many people get this confused with any apartment above ground floor, especially l'wengs/shophouses, which are not eligible for Strata Titles. As Strata Titles are only issued to co-owned buildings, permission would be required and compensation negotiated from all co-owners prior to any such scenario.

Strawberryshake · Post by **Strawberryshake** » Tue Oct 27, 2020 9:14 pm

Perhaps they mean newly build little subdivisions where 70% of these certified houses with its land may be freehold owned by foreigners above 50 years of age.
Anyway they have to try something cause not much foreigners imho will continue to pay 150,000 usd for 45 sqm studio condominium units..

Post by **Clutch Cargo** » Wed Oct 28, 2020 10:53 am

Moved some posts to the more general topic of changes to immigration laws post391494.html#p391494

AndyKK · Post by **AndyKK** » Wed Oct 28, 2020 11:06 am

I have added a reply from two threads here, relating the merge is in the same veiw.
Quote from the thread New development
“The living standards of Cambodians are improving, and they are starting to eye properties specifically for retirement, leisure and relaxation,” he added.
Cambodian Valuers and Estate Agents Association president and local shareholder of the project Chrek Soknim said the concepts of second homes and leisure developments are gaining momentum in the Kingdom.
Four-bedroom villas at the Gold Harmony are an average of 1,200sqm in size, with prices in the $361,000-409,000 range and include an individual swimming pool, the developer said.
It comprises 78 villas, of which more than 60 per cent have been sold, according to the developer.

-------
It seems that improving living standards for Cambodian’s is a little understated, being the situation here buying a second home for the reason, specifically for retirement, leisure and relaxation. Although the article does not state if the 60% are of home sales, it seems undoubtedly that the new book certainly as that of two covers, one of extreme wealth, but in other articles I am reading about the fragility of Cambodia's emerging middle class. The other of two, unfortunate poverty, it’s here the hand is out for any organisation that it sees fit, for donation to help those who are in need, seemingly to rely more on outside help and donations, instead of being a provider for one’s own people. There is most defiantly that of foreign and local investors aiming more toward that of serving the needs of the countries middle class and of the overseas visitors, or even foreign retirees or long-term expats, with developers constructing places that may appeal to the needs, such as condominiums with possible strata tittles, shopping malls, recreation and leisure facilities.
We can compare, and say this of the wealthy is the same in our own countries, but most likely it is that of our own, take care of the poor and needy.
As for any foreigner’s decision to invest in property it’s a sole decision, but is it considered that of a safe one? For starters there are restrictions on what the foreigner can and can’t buy. It also doesn’t mean the investor would be guaranteed a visa or EOS year after year.
One poster has put his concerns about the new retirement visa rules are being considered for implementation next year. This has been always a concern for a new and longterm visitors, more so because the laws are so relaxed, that is more so when looking how strict the country’s naigbours have become on their own immigration law. Only lately had been the new FPCS (Foreigners Present in Cambodia System) enforced in July. The worries therefore if Cambodia follow suit, such as having to show a large enough sum of money in your bank account, or such as Thailand, in one of the countries banks (untouched) being of an amount. Another risk added it could be said in the times of covid19, concern to consider is the banking system and that of the country safe or stable on its economy.

Proposed 2nd home program for foreign retirees in Cambodia

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Re: Proposed 2nd home program for foreign retirees in Cambodia

Re: Proposed 2nd home program for foreign retirees in Cambodia

Re: Proposed 2nd home program for foreign retirees in Cambodia

Re: Proposed 2nd home program for foreign retirees in Cambodia

Re: Proposed 2nd home program for foreign retirees in Cambodia

Re: Proposed 2nd home program for foreign retirees in Cambodia

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