Cambodia launches CM2H programme to encourage foreign investors
Those who apply to the programme will be entitled to 10-year visas without entry or exit restrictions
Last month, Cambodia launched a programme that entitles 10-year visas and other benefits to those who invest in the country.
Cambodia My 2nd Home (CM2H), according to The Laotian Times, was exclusively launched by the Khmer Home Charity Association. Its goal is to promote trade and investment without unauthorised intermediary companies.
Those who apply to the programme will be entitled to 10-year visas without entry or exit restrictions. After five years, they will also have an option to apply for Cambodian citizenship.
Apart from these, they will also benefit from the Khmer Home Charity Association, wherein they will be granted access to local insurance coverage and VIP medical treatment, among other advantages.
Candidates must be citizens of countries or regions recognised by the national government, and their minimum investment capital must be not less than USD100,000 in Cambodia. They must also own a real estate project approved by the Cambodian government, according to the official CM2H website.
More: Cambodia to be classified as the new Asian Tiger, outpaces its neighbours
Thailand has also started offering 10-year visas, and this has sparked debate within the community.
The governments of Thailand and Cambodia are eager to entice wealthy executives, specialists, entrepreneurs, the idle-rich, and even retirees if they ever find themselves prepared to continuously invest enormous sums of money, reported the Khmer Times.
The key distinction is that Thailand’s LTR permits other types of investment, whereas Cambodia’s CM2H is strictly related to real estate purchases.
Meanwhile, The Phnom Penh Post recently reported that the Cambodian government is introducing a “special tourist policy” to help the tourism sector by attracting big spenders, long-staying and repeat visitors, and potential investors.
Ministry secretary of state Tith Chantha noted that the typical traveller usually spends USD700 to USD800 during their stay in Cambodia. A “special tourist” typically spends USD2,000 to USD3,000. The latter also tends to stay longer and have businesses or jobs in the country.
Moreover, he said the policy aims to make ecotourism an attractive investment option, as well as include mechanisms to attract more tourists.
The Property Report editors wrote this article. For more information, email: [email protected].
Hong Kong’s homecoming: Housing market reawakens, will it weather the interest rate storm?
Hong Kong’s reopening has led to growing indications of a rebound in the territory’s struggling housing market
6 of the exciting areas to visit in Lipa, Batangas (PH)
With its cool weather, nature, and laid-back lifestyle, this city in Batangas Province is a rising star
Ok, boomers, Gen X’ers: Where are they now in their property journeys?
Ageing societies in Southeast Asia mean that catering to the requirements of mature investors will be a key challenge for developers
Pursuing a career in sustainability paves a path for a green, resilient, inclusive property sector
The Narrow Door Podcast Host Sam Oh speaks with World Bank Group's Angelo Tan on his career journey