What If Foreigners Were Able to Buy Houses on Ground Floor?

John Bingham · Post by **John Bingham** » Mon Oct 05, 2015 1:22 pm

juansweetpotato wrote:
Well, that's a better point, but then again huge Vietnamese corporations own hard title already.

They don't, they are only leasees.

juansweetpotato · Post by **juansweetpotato** » Mon Oct 05, 2015 1:50 pm

John Bingham wrote:
juansweetpotato wrote:
Well, that's a better point, but then again huge Vietnamese corporations own hard title already.
They don't, they are only leasees.

I have heard it depends IF it is registered as a foreign company or not. If it pays taxes to the country it's registered in outside Cambodia
then it can buy hard lease in the companies name. So I have been told. Pretty standard stuff as I have heard the same a few times round the world. Individual; no, but foreign company; yes. Can anyone confirm or deny it with facts and info?
The Vietnamese land ownership happened a while ago. Not sure how the new rubber companies etc. are set up

juansweetpotato · Post by **juansweetpotato** » Mon Oct 05, 2015 2:02 pm

rubberbaron wrote:
TheGrinchSR wrote: A shareholder with no legal right to vote on company matters, to disbursement of profits or indeed to company assets is a polite legal fiction nothing more. It's a deliberate device to allow 100% foreign ownership while keeping nationalists mollified.
True, but having been in involved as a broker in such deals, there is a remaining risk for the foreign shareholder. Votes must be assigned according to shares held. Any other regulation will make the whole deal void and null according to the land law. You register a company with foreign shareholders for the purpose of acquiring land both the CDC and the Ministry of Commerce will point this out by handing over the relevant sections. Many of the smaller deals will simply go undetected as the buyer's name won't appear on the title. They use a Khmer front man to hold it for them. Finding those is the hard part. A friend of mine specialized in this. And then, enforcement is not this government's strong suit so even the big deals can mostly go about their business unhindered.

Just caught that post. Thanks, interesting. So you are saying that the big foreign companies do have hard title or don't?
What are the regulations concerning buying out shareholders?

phuketrichard · Post by **phuketrichard** » Mon Oct 05, 2015 2:38 pm

Myanmar, Vietnam and Laos NO one can own the land
its all goverment land an even the locals lease

...But bear in mind that freehold possession of land is not allowed even to citizens in Laos, Myanmar and Vietnam, where policy establishes the state as the owner of all land.

Interesting article and one which you all should read as it explains what is what.

http://www.bangkokpost.com/business/fin ... alled-home

prahkeitouj · Post by **prahkeitouj** » Mon Oct 05, 2015 2:40 pm

I support Mr. Death Channa's idea. The houses will be increasing the price and Cambodians will be difficult to afford to buy their own houses. Even it looks like not really good for National economy, but it helps a lot for Cambodians' earning such as renting apartments, houses and rooms. There are many sectors we can attract investors to invest in Cambodia. But let foreigners to buy house on ground floor is not good idea to implement in Cambodia's situation nowadays.

prahkeitouj · Post by **prahkeitouj** » Mon Oct 05, 2015 2:45 pm

I think my friend said is right that I shouldn't work hard to buy any land I should marry with a guy who has his own house. Hehehe..

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