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.
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].
NRI investors fuel India’s property boom amid favourable market and regulatory landscape
With market conditions and regulatory changes working in their favour, NRI investors are supercharging India’s real estate scene
Archetype Group’s Jean-Francois Chevance spearheads urban innovation in Southeast Asia
Archetype Group has overseen numerous transformative projects in Southeast Asia
Reimagining the future: Asia’s architects turn to heritage for sustainable solutions
Planners, designers, and developers around Asia are looking to the region’s past for inspiration as they attempt to reduce harmful carbon emissions
Government rolls the dice: Indonesia’s bid to revitalise real estate ahead of elections
The outgoing government is banking on tax breaks and other incentives to revive the country’s residential sector