This could be a game changer for retiree tourists and expats owning ground floor house and land if they model it along the lines of the Malaysian 2nd home program.

Excerpt:

The government is drafting a second home policy, which was initiated since 2016, in a move to attract tourist destinations for foreign retirees.

The second-home policy aims to create a new tourism product that will make tourists regular visitors to the Kingdom by ensuring they have legal ownership rights to their second homes that, according to the government, will allow them to own 70 percent of a home. Under current law, foreigners can own 100 percent of a flat or condo as long as it is not on the ground floor.

Top Sopheak, a tourism ministry spokesperson, told Khmer Times yesterday that the Ministry is preparing a second-home policy, but the draft is being processed and it is yet to be finalised.

“The policy has not been officially launched. We are preparing and making some corrections to ensure that it will suit the current situation and to be accordance with 2030’s tourism strategy attraction.

Ho Vandy, secretary-general of the National Tourism Alliance, said similar policies had been successful in Thailand, Malaysia, Singapore and Indonesia. The policy has drawn investor-tourists, families and retirees elsewhere.

“If we can attract these three types of tourists the tourism industry will be more prosperous,” he said, adding this will help protect investors and people in the surrounding areas, while the government will earn more tax.

“Most second homes in other countries are built near the sea and in quiet places because tourists visit to relax in a good environment,” he noted.

https://www.khmertimeskh.com/50733879/k ... -retirees/

Definitely interesting. I wonder why they don't look further out as many Latin American countries have similar policies which they could draw on, or combine with policies existing in other SEA states.

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?

ExPenhMan wrote: ↑Mon Jun 15, 2020 4:16 pm Almost looks like Cambodia would set aside what I'll call "retirement ghettoes," a la Ford Lauderdale, Florida, or Ajijic, Lake Chapala, Mexico, as I'm given to understand. Not for me, thanks, especially since my top choice, Sihanoukville, has been decimated.

I must admit that when I read this:

“Most second homes in other countries are built near the sea and in quiet places because tourists visit to relax in a good environment,” he noted.

I couldn't help wondering what you're alluding to that you may only be able to buy in designated areas..and I won't be able to buy my retirement shack in Daun Penh

The other thing is: how can you own 70% of the house...what, the other 30% is khmer owned?...how will that work?...hmmm

I guess the devil will be in the detail once finalised but who knows..it may end up better than we think.

Quote from article -

The government is drafting a second home policy, which was initiated since 2016, in a move to attract tourist destinations for foreign retirees.

The second-home policy aims to create a new tourism product that will make tourists regular visitors to the Kingdom by ensuring they have legal ownership rights to their second homes that, according to the government, will allow them to own 70 percent of a home. Under current law, foreigners can own 100 percent of a flat or condo as long as it is not on the ground floor.

Why would any retiree be excited about this news, now you can only own 70% of your home, I would say the government with minimum or no cost to them will own the other 30%. Seems very logical for them to have a firm hold on your assets, retirees have a tendency to die, but then again it was not long ago when the big boss also said on the lines - they have a visa this year, but there is no guarantee they will have one next year.

phuketrichard wrote: ↑Mon Jun 15, 2020 5:14 pm Unless buying a home comes with a guaranteed lifetime visa/extension....its not worth it, unless you have local family to leave it to,(and if u did why not put the whole 100% in their name?)
Better pay the $300 /year for a 1 year extension
and as stated 70% WTF

Maybe what it is! You can own 70% of the ground floor, due to the understanding a retiree is not has active climbing stairs, also they may want to make money selling, or if you did die they don't want to remove you down all the stairs.

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'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.

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.