Cambodia has officially launched a new property investment visa programme dubbed “Cambodia – My Second Home” which is widely designed after its namesake Malaysia My Second Home, a similar scheme set up by Malaysia in 2002. The Cambodian programme has been launched by the Khmer Home Charity Association – initially a charity organisation based on donors, but meanwhile working towards improving international investment opportunities and also economic growth for Cambodia – with full authorisation from the interior ministry and with the goal of promoting trade and investment while eliminating unauthorised intermediary companies. Benefits included The scheme aims at encouraging foreign…
Cambodia has officially launched a new property investment visa programme dubbed “Cambodia – My Second Home” which is widely designed after its namesake Malaysia My Second Home, a similar scheme set up by Malaysia in 2002.
The Cambodian programme has been launched by the Khmer Home Charity Association – initially a charity organisation based on donors, but meanwhile working towards improving international investment opportunities and also economic growth for Cambodia – with full authorisation from the interior ministry and with the goal of promoting trade and investment while eliminating unauthorised intermediary companies.
Benefits included
The scheme aims at encouraging foreign property investment under certain conditions and offers a ten-year visa and other benefits in return.
Applicants for the Cambodia My Second Home (CM2H) programme will have access to a number of business- and travel-friendly measures, such as no entry or exit restrictions during the visa duration, as well as an option to apply for Cambodian citizenship after five years.
Foreign investors will also benefit from Khmer Home Charity Association membership under the programme, which will grant them access to local insurance coverage and medical treatment for a year as an incentive, among other advantages.
$100,000 minimum investment
According to CM2H’s official website, applicants must be a citizen of a country recognised by the Cambodian government and must have investment capital of not less than $100,000 in Cambodia which has to be used to invest in government-approved property to obtain the visa. The refundable registration fee for the application is $30,000.
No language proficiency or academic qualifications are required by those wanting to enter the programme.
Investors will receive their CM2H membership number within seven days, while the visa will be processed within 14 days, according to the programme’s website. Bank accounts, patents and business licenses are guaranteed after 60 days.
In the first phase of the programme, the organisers expect to grant about 10,000 so-called “golden visas.”
Discussion about this post