Can a foreigner own a property (Considering they can’t purchase land) in Cambodia?
Yes, they can. Although Cambodian law prohibits foreigners from owning land, they can legally own properties, be it condominiums, apartments, or offices, as long as it is not located on the ground floor of a building (and at least 30% of the other properties in the building are Cambodian owned). Such properties are commonly “strata-title.” The title is also protected with certain provisions that ensures that the property cannot be demolished or replaced without the foreigner’s consent or appropriate level of compensation.
Yes, foreigners or non-Cambodians are legally allowed to directly own condominiums in Cambodia. This is mainly achieved through Strata Titles – property ownership certificates issued by The Ministry of Land Management, Urban Planning, and Construction. These titles are recognized on a national level, making them a secure form of property ownership in the Kingdom.
It also depends on what nationality you, the agent, or developer may be. Most Australians, for example, are more likely to resonate with the term “Apartment” while Americans and Chinese resonate with the term “Condominium”.
Cambodians on the other hand will generally associate an older unit as an “Apartment” whilst considering the new most recently completed one as a “Condominium”.
In 2009, strata titles were introduced and allowed foreign nationals to fully own private units of co-owned buildings in Cambodia. The only fine print in relation to this is that the units within a condominium or strata-titled office must be 30% locally owned, and foreigners can not own properties within that building on the ground floor. Simply put, if a building has a total of 100 units, 30 of those must be owned by Cambodians.
Foreigners can own apartment in Cambodia as long as not the ground floor (attached to the land). And the other restriction you need to know is that foreigners can only own maximum up to 70% of total units in one building.
Office is under the category of Commercial Properties. Type of commercial properties includes office space, shopping mall space, and restaurant space. Foreigners are also allowed to own commercial properties with the same restriction as condominium and apartment.
Can I Ask You for Advice?
Feel free to question us any concerns you may have not limited mutual trade, foreign direct investment in Cambodia, and what we have in the business alone. You can find contact us page on the right corner of our website or email us via our address; [email protected] here. Or email us via [email protected]il.com for land purchase, land conversion, and hold the land on your behalf.