See clearly! Cambodia's house purchase is actually so simple!

Cambodia, the new engine of Southeast Asia's economy ,has attracted more and more friends.It only minute to let you know the whole process of Cambodia's investment and purchase policy,tax ,payment and so on.

Q1：Can foreigners buy houses in Cambodia?

A1：Yes.On April 5,2010,the Cambodian parliament discussed and passed the Aliens Planning and Law ,which was jointly formulated by the Ministry of Land , Urban Planning and Constuction and the Ministry of Justice.According to the law ,foreigners will have the right to buy house in Canbodia and have legal property rights.

Q2：What are Cambodia's regulations for foreign buyers in Cambodia?

A2：According to the provisions of the Aliens Real Estate Property Law, if a foreigner purchases a house above the second floor of a high-rise building in Cambodia, someone can obtain the same property rights certificate as someone own citizens.someone can rent and sell the house independently, and enjoy the right without limitation of years, which is permanent. In addition, personal identity can't buy land and villas.

Q3：Can Cambodia buy a house and emigrate?

A3:According to Article 7 of the Nationality Law, a foreigner may acquire Cambodian nationality by applying. At present, applications for Cambodian citizenship are generally divided into investment naturalization, donation naturalization and intermarriage naturalization, and Cambodian nationality obtained by birth.

Investment naturalization: According to the Nationality Law of the Kingdom of Cambodia, foreigners invest 1.25 billion riles (about $310,000) and meet the statutory requirements.

Donation naturalization: Those who have made special contributions to Cambodia or donated 1.2 billion riles (about $300,000) can also apply for naturalization.

Intermarriage naturalization and Naturalization by birth: if one parent is Cambodian, his or her children can get Cambodian nationality; newborn born born born in Cambodia can get Cambodian nationality; applicants and Cambodian spouses can apply for Cambodian nationality after receiving marriage certificate and living together for three years.

Q4：What taxes and fees should Cambodia pay in addition to housing?

A4:If the warrant is a hard card, the buyer must pay 4% of the sale price of the real estate transaction tax and $1000 to $3000 to change the owner's name fee according to the size, location and price of the property. If the warrant is a soft card, the buyer only needs to go through the formalities in the district authorities. The fee is about 200 to 800 US dollars depending on the size, location and price of the house. The lawyer fee is about 750 US dollars. After delivery, the owner must pay 0.1% housing tax to the Ministry of Economy and Finance every year. The price of the house is assessed by the Ministry of Economy and Finance.

Q5：What is the specific process of buying houses in Cambodia?

A5:Determine the purchase property, pay a deposit of $5000 10 days, sign the purchase agreement, pay down 10% pay in installments according to the prescribed procedures, at least 5% per month complete the project, pay the balance and take the key loan down payment 30%, within 12 years transfer of ownership registration.

Q6：Can foreigners buy houses and borrow money? How long is it? How to calculate interest?

A6 : Foreigners can buy houses on local loans for up to 12 years. The total price of the loanable property is 65%, the annual interest rate is about 9.96%. They can borrow 10,000 US dollars, and the monthly repayable interest rate is 83 US dollars. The total repayment amount is more than 100 US dollars (calculated in 2010).

Q7：How long is the property right of the house in Cambodia? Is there a time limit for foreigner’s property ownership?

A7 :There are two kinds of warrants in Cambodia: permanent rights and limited rights. For permanent rights, the owner can have the property right permanently, but for limited option rights, the owner can only have the property right of 99 years, but the contract can be renewed after 99 years.

There are no restrictions on the property ownership of foreigners.

Q8：The Cambodian government has no restrictions on the purchase area?

A8 :Foreigners cannot own property rights in the private sector of multi-owner housing within 30 kilometer’s of the land boundary unless the multi-owner housing is located in the Special Economic Zone, in areas of concentration of important residents and in areas prescribed by the Royal Government of Cambodia.

Q9：Who pays the lawyer's fee when buying real estate in Cambodia?

A9 : To buy real estate in Cambodia, lawyers are required to process legal documents. Generally, the seller pays the lawyer’s fee. Unless the buyer is not confident that he wants to employ his own lawyer to make a contract, the buyer himself pays the lawyer’s fee.

Q10：Do foreigners need to pay taxes to collect rents in Cambodia?

A10 : Foreign landlords pay only 10% rent income tax if they have a permanent residence in Cambodia or stay in Cambodia for more than 182 days. Foreign landlords who have no permanent residence or stay in Cambodia for less than 182 days must pay a 14% rental income tax.

Q11：When homeowners sell their houses, what taxes do they have to pay? When to hand in? How much?

A11 : If the warrant is a hard card,the seller must pay 4% of the sale price of the real estate transaction tax and $1000 to $3000 to change the owner's name fee according to the size, location and price of the property.If the warrant is a soft card, the seller only needs to go through the document formalities in the district authorities. The fee is about $200 to $800 depending on the size, location and price of the property.

Q12：Do you need to pay gift tax and inheritance tax for donated houses in Cambodia?

A12 : Cambodian law imposes a 4% property donation tax, but no inheritance tax.