On the morning of November 13th, Cambodian Prime Minister Hun Manai held a meeting at the Peace Palace in Phnom PenhSection19th editionThe First Forum between Government and Private Enterprises,A special mechanism has been announced that foreigners have the right to lease land and real estate for a period of15 to 50 years with the right to extend for another 50 years,However, it is not allowed to directly purchase land and first floor houses. He emphasized that according to the Cambodian Constitution and relevant regulations, those who can legally obtain land property rights must have Cambodian nationality.

He also stated that the unused land area exceeds5 hectares of land should be taxed, while unused land with an area less than 5 hectares can be taxed. The purpose of taxation is to avoid hoarding land for economic gain. The implementation time of the relevant measures will be set for 2025, allowing time for those who own large areas of land to consider re using the land for commercial activities.

The principle of taxing unused land is to ensure that the area of land purchased is not too large,Land used forCarry out commercial activities and generate income, rather than discontinuing any commercial activities after purchasing. After studying and reviewing existing legal standards, Cambodia also has a mechanism to grant foreigners the right to own real estate, which is almost identical to the rights enjoyed by locals.

Some Cambodian citizens believe that,Cambodia's land prices are cheaper than other countries, and many foreigners, especially Chinese, will inevitably come to invest and purchase, which is likely to lead to a surge in land prices in Cambodia, making local people more unable to purchase.

Many CambodiaReal estate industry insiders believe that,If Cambodia's laws change, making it easier for foreigners to purchase houses and residential land projects with land, it will attract foreign investors and contribute to the country's economic development.

Currently, if foreigners want toobtainCambodiaOne method of land ownership is to create a company locally.After establishing a company locally, it can acquire and invest in real estate under the name of the company. But it must be ensured that the company51%The shares are owned by Cambodian partners.

There is another sideThe law is to purchase through local agents, and investors sign trust agreements with land owners to obtain land management rights. The agreement between the two parties is a mechanism that allows foreign investors to control any transactions related to real estate. However, according to the law, Cambodian citizens actually own ownership of the property.

Additionally,According to the Nationality Law, foreignersIfBy obtaining citizenship, one can own real estate in their own name.Long term lease of land,alsoIt is a commonly used method by foreigners,However, property registration still exists in the name of Cambodian citizens, and of course, foreigners are not allowed to resell the real estate.