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Is the overseas property tax counted? What taxes do I need to purchase a property in Cambodia?

2019-04-19
1976
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Summary:Do we ​need to pay except the price of the housing ? I believe that many of us are wondering that. Actually

Do we need to pay except the price of the housing ? I believe that many of us are wondering that. Actually, tax is very simple and clear in Cambodia. Today i will show you, Xiaonan divide the procedure into 3 phases. First one, purchasing phase. Second one, holding phase. Third one, Selling phase. I hope that i can answer your questions, then help you to purchase overseas property.

(1) Transfer tax: The hard title, the buyer must pay 4% of the real estate  transaction tax, and the 1000-3000 US dollars for change the title of the property owner (depend on the size, location and price of the property). Soft cards, buyers only need to go through the formalities of the community authority, the fee is about 200-800 US dollars (depend on the size, location and price of the property), the attorney fee is about 750 US dollars.

(2) Mortgage application fee and attorney's fee: The buyer pays 1% of the total loan amount to the bank or lending institution. You need to pay $250 to a lawyer as services fee (legal advice, property counts, legal proceedings, etc.).

(3)House insurance premium: If the house price exceeds $100,000, then at least $100 is paid annually. If the house price is less than $100,000, the annual premium will not exceed $100.

二、 Holding Phase 

(1)  Real Estate tax: when you get your housing, the owner need to pay 0.1% real estate tax to the Ministry of Economy and the Ministry of Fiance, the value of the housing evaluated by the Ministry of Economy and the Ministry of Fiance.

If you want rent your housing, you need to pay rent tax: if foreign landlord owns permanent residence or stay at Cambodia more than 182 days, you need to pay 10% rent income tax. As for these foreign landlord who have no permanent residence or stay at Cambodia less than 182 days, you need to pay 14% rent income tax.

三. Selling Phase

(1) Purchaser need to pay 4% of Cambodian notified price of the Cambodia government as a “ house transaction tax” or follow the regulations released by the Cambodia.

All the taxes you need to pay during the property purchasing procedure is that. As foe investors, any related taxes is above. Actually, as for investors, it is very economical for the property in Cambodia, and the tax is not high.

What’s more,  it is worth mentioning that property in Cambodia is worth for investment with cost efficient. When you buy the apartment in Cambodia, it is well decorated, better than apartment in China with limited property rights. There is no inheritance taxes in Cambodia, this is incomparable. Cambodia’s property with freehold.


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