Hi. Very much a noob here, not yet located in Cambodia but hoping to eventually retire there.

I am tentatively looking into the ins and outs of buying a house. I understand foreigners are not allowed to own property so it would have to be via my girlfriend (and yes I'm aware of *some* of the possible pitfalls of this).

Before I start asking questions, is there a FAQ on this anywhere or a different forum or site I should be asking in? Or can I go ahead here?

Cheers.

troelshartmann wrote: ↑Sat Jun 20, 2020 2:26 pm Hi. Very much a noob here, not yet located in Cambodia but hoping to eventually retire there.

I am tentatively looking into the ins and outs of buying a house. I understand foreigners are not allowed to own property so it would have to be via my girlfriend (and yes I'm aware of *some* of the possible pitfalls of this).

Before I start asking questions, is there a FAQ on this anywhere or a different forum or site I should be asking in? Or can I go ahead here?

Cheers.

It's really simple. Wire her the money, she'll buy the land in her name, and then you build your love nest, all in her name.

Just make sure she know the neighborhood. Some people sell land that's not their's.

dont do it unless u are considering it a "gift" to ur gf

Even than, dont think about it till you have been in country a year or so and ur still in the relationship

troelshartmann wrote: ↑Sat Jun 20, 2020 2:26 pm Hi. Very much a noob here, not yet located in Cambodia but hoping to eventually retire there.

I am tentatively looking into the ins and outs of buying a house. I understand foreigners are not allowed to own property so it would have to be via my girlfriend (and yes I'm aware of *some* of the possible pitfalls of this).

Before I start asking questions, is there a FAQ on this anywhere or a different forum or site I should be asking in? Or can I go ahead here?

Cheers.

Foreigners can not buy land but they can buy property as long as it is not on the ground floor. Protect yourself and put the property in your name only. You can arrange a will to pass the ownership to her when you die. If she doesn't like that, just rent.

Buy it in the name of a property company and then grant yourself a 50 year lease at $1 a year rental. Bequeath her the remainder of the lease if you want to*

Find a real lawyer in Phnom Penh. There is an American one that has been there since 1992 and is well known. It won't be cheap or quick but at least you will have less chance of being turfed out a month after the purchase.


* if you do this, your legal work can all be undone by you having a 'heart attack' due to 'falling' out of a high window. Being worth more dead than alive is a dangerous state of affairs in a country where dead can be arranged.

Good luck...

* if you do this, your legal work can all be undone by you having a 'heart attack' due to 'falling' out of a high window. Being worth more dead than alive is a dangerous state of affairs in a country where dead can be arranged.

Some comments on Cambodia and Cambodians by forum members have become extremely negative these past days. Is it because you can't get back in ? And in that case, why do you want to come back ?
Just wondering where all this negative energy is coming from.
ie. Today's suggestions in comments that all Khmer girls are raped by the age of 12, and that foreigners who buy property in Cambodia are in danger of being killed by greedy locals. (I dispute both these ideas.)
So, is it me, or are some of you more pissed off and angry than usual ? Cambodia is not paradise by any means, but you knew that already, right ? Right ?

Thanks for the replies...and the scary warnings

I've had a chat with a lawyer who has told me one way to protect myself is to establish effectively a mortgage whereby I loan the money to my g/f and I have a financial interest in the property so it cannot be sold without the loan being repaid and the property released by me. Sounds reasonable.

The property I am looking at is a detached villa, so will be "ground floor".

Another practical question - any recommendations on transferring a reasonable amount of cash without poor exchange rates or high fees?

I've tried TransferWise which has worked fine to other countries but on the only time I sent some to Cambodia the receiving bank took a huge fee out of it. Never experienced this anywhere else. Used Western Union once but they have terrible exchange rates.

Some comments on Cambodia and Cambodians by forum members have become extremely negative these past days. Is it because you can't get back in ? And in that case, why do you want to come back ?
Just wondering where all this negative energy is coming from.

Its okay, I was ready for some replies of this type. I'm not naive enough to think it will all be sunshine and lollipops but I do genuinely believe I have found a good one. I'd really appreciate any helpful replies that go along with this presumption.

Doc67 wrote: ↑Sat Jun 20, 2020 4:40 pm Buy it in the name of a property company and then grant yourself a 50 year lease at $1 a year rental. Bequeath her the remainder of the lease if you want to*

Find a real lawyer in Phnom Penh. There is an American one that has been there since 1992 and is well known. It won't be cheap or quick but at least you will have less chance of being turfed out a month after the purchase.


* if you do this, your legal work can all be undone by you having a 'heart attack' due to 'falling' out of a high window. Being worth more dead than alive is a dangerous state of affairs in a country where dead can be arranged.

Good luck...

I have a friend who has done this and is working out well for him - however, he did split from his partner who then tried all sorts to get something out of the property including trying to take out loans against it (this failed as the bank were refused access to the property). There were also a few veiled threats from her and her family, eventually, it settled down and she met someone new, will still inherit the house when he passes. I also met a Danish guy who had done it in Battambang (hadn't done the legal stuff), as soon as the house was finished he was thrown out and left fairly destitute. While Doc has taken it to the extreme it is something to consider - I wouldn't call it a negative opinion but something to think about. That said, I also know plenty of guys who have bought with their wives who have families and it has served them well especially some of the land purchases. Nothing wrong with doing it but you have to be clear why and what you expect from it e.g. and why you want to buy and build a house you will never technically personally own.

- if you have kids together land or property is a good legacy for them if you pass
- if you want to provide something for your partner after you depart this mortal coil
- if you want to provide something for their family

As mentioned you can buy a condo if you wanted which could be an investment/rental return. Or alternatively, you could just rent somewhere great and save a big portion of your retirement $$$

OP, what's your timeframe? You could hang it in hope here: post429250.html#p429250