The Cambodia Citizenship by Investment program is not well-known in Cambodia, and it is not well-marketed outside. The program, which was passed into law in 1994, grants foreigners Cambodian citizenship if they invest in the country. The opportunity to acquire land and other property in their own name, as well as the freedom to travel visa-free to other Asian nations, are the most frequently mentioned reasons for foreigners. Foreigners who have made outstanding contributions to Cambodia have also been granted citizenship.
The person who intends to obtain Cambodian citizenship by investment must invest 1.25 billion riels ($312,500), which translates to Cambodian citizenship. However, there is one additional factor to consider: fluency in their own language.
Although the Cambodian passport is not a very strong document for visa-free travel (you can only go to 51 countries without a visa), Cambodian citizenship may have additional advantages that are worth considering, such as:
- Asset diversification, privacy, and asset protection are all important factors to consider. Investors and their families can adopt a new Khmer name and transfer a portion of their fortune to it. The increasing lack of privacy in many countries makes it more important than ever to have a portion of your wealth held under a second citizenship. You can bank using your new Cambodian documents.
- You won’t be completely reliant on your previous citizenship and passport. With your new documents, you will be able to travel and reside in another nation in the event of political turmoil or conflict.
- You will be able to take advantage of local benefits that are not available to outsiders as a Cambodian citizen. You can visit and work in Cambodia without a visa at any time and for as long as you desire. You’ll be able to own a piece of land in your own name (foreigners can only lease land and property for 50 years). Last but not least, you will be able to apply for Cambodian government concessions and permits that are exclusively available to Cambodian citizens.
- Benefits of Traveling As a Cambodian citizen, you can go to Singapore, Malaysia, Indonesia, South Korea, India, and Thailand without a visa.
- Investors must be at least 18 years old, have a clean criminal record, and be of sound mind and good health. They must also make a qualifying investment in Cambodia of at least USD 311,000.
- The candidate must have a valid passport as well as a current Cambodian visa.
- There is no language requirement.
- The condition of residency is not required.
- The time it takes to process an application varies from case to case, but it usually takes between 3 and 6 months.
- Once the main applicant has been authorized, family members (spouse and any children under the age of 18) can apply for citizenship.