In the final 3 decades of the past century, Cambodia had experienced a diverse political atmosphere and went through a constitutional monarchy, a republic state-run, communism; and then back to the monarchy respectively. After these political switchovers, the country is now showing immense economic growth.
In the first decade of the current century, the average GDP growth in Cambodia was more than 8% and about 7% since 2011.
Find more statistics at Statista
The reason behind such strong growth is pretty simple. Cambodia’s welcoming attitude towards foreigners is the main selling point here. That is why foreigners from many countries choose to invest in Cambodia, and the ex-pat population is gradually increasing every year.
It was introduced back in 1996. Cambodia does not offer permanent residency, but its ordinary visa can be extended indefinitely. As a result, foreigners who wish to stay in this country for a long time may either:
(1) obtain and extend their business or ordinary visas, or
(2) apply for Cambodian citizenship.
A Business/Ordinary Visa allows foreigners to stay for up to one month and can be easily extended for three months, six months or 12 months. Business visas are the most popular way to reside long-term in Cambodia. Cambodian citizenship can be applied for at the Ministry of the Interior, which normally takes two to three months to process.
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Different types of applications are accepted from the foreign investors as mentioned below:-
| 1. Eligible investment of 1,250,000,000 riels (311,000 USD) or a non-refundable donation to the government for the benefit of Cambodian people at the amount of 1,000,000,000 riels (249,000 USD). |
| 2. The normal naturalization process, i.e. foreigners who have lived and worked in Cambodia for a minimum of seven years and are proficient in Khmer in reading, writing and speaking. |
| 3. Foreign investors or foreigners who are married to a Cambodian citizen, following three years of cohabitation from the date of marriage registration. |
With the Cambodian passport, the individual can enjoy visa-free travel to 51 countries in the world including Singapore, Malaysia, Indonesia, South Korea, India, Thailand, etc. Cambodian citizenship may offer other benefits that are not available to foreigners, that can be worth considering including:-
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Cambodia is a part of the ASEAN Economic Community, a region with free movement of goods, services, investment, skilled labour and free flow of capital.
Map of countries in AEC.
ASEAN membership offers regional trade benefits, easy repatriation of profits, low-cost labour force, untapped natural resources, underpenetrated and growing domestic consumer market, conservative banking system and so on.
So, considering such a financial prospect, it’s really high time to go for foreign investment in Cambodia.
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