As for real estate in Cambodia, all land has not yet been completely divided into government land and residents’ private land, and the entire land of Cambodia is continuing to organize land divisions. So, in recent years, the Ministry of Land, Infrastructure and Transport conducted a zoning of the entire country for several months while grasping the actual conditions of the people occupied by the current government on government land. The legal rights of the people were transferred to the residents by creating a certificate of registration right.
In addition, foreign companies that have invested in the agricultural sector through economic concession with the government (ELC) (referring to receiving a 70-year license from the Ministry of Agriculture and Forestry when investing in the agricultural sector – currently adjusting to 50 years) Under the policy of the government, investment companies divided the land occupied by the residents among the contracted sites that had received economic concession permits from the government to the residents of the area.
In addition, as for the current Cambodian land, registration rights for all individual land have not been issued yet, so foreign NGO organizations continue to provide support for issuing land documents with registration certificates for each region, and the process of buying and selling unregistered lands In , both sides of the transaction are proceeding normally with the transfer of registration through the purchase contract with the certificate of registration.
Local Cambodia’s general social custom of land sale is that it costs a lot to register the land, so it is common to keep the contract in an unregistered state and then sell it again. However, in many areas, land is currently owned by a registration certificate indicating normal legal rights, and the sale is being carried out on condition that the registration right is transferred.
Even now, many lands in Cambodia are in dispute with residents, so if you are in a situation where you need to purchase even a small piece of land, it is recommended to check the right of the land and talk with the land owner. It should be recognized that writing after consultation is a shortcut to avoid disputes.
Types of documents for real estate in Cambodia (LAND TITLE DEED or L MAP. SOFT TITLE – unregistered documents)
LAND TITTLE DEED or L MAP
The registration certificate is a document that fundamentally shows the right to land, and is also called L MAP. The address of the land and the lot number are marked on the front side of the registered copy, and a map with zoning arrangement showing the nearby land lot number is marked, and the area of the land is also indicated. On the reverse side, the personal information, family relationship, date of birth, etc. of the first registrant are written, and the contents of the honor transfer through the purchase and sale of the land and the contents of seizure and mortgage on banknotes are shown. In addition, at the time of purchase of a corporation, the contents of permission from the corporation’s government are also described.
Honor In this exhibition, it is necessary to confirm that the current land owner and couple are buying and selling together with their IDs, and this is essential for this exhibition to be confirmed in front of the registry office staff. However, if a married couple confirms to the registry office that the land belongs to one of them, the land can be sold with only one person’s will in the next sale, and only one person’s name is listed in the registered copy of the register.
In addition, when a corporation purchases land, only the corporate name is entered, not the name of the local shareholder of the corporation. However, the local shareholder of the corporation attends every real estate transaction and confirms the purchase and sale of land on behalf of the corporation’s CEO and foreign shareholders.
Please be aware of the above information and it is customary in Cambodia not to show the original registration documents when purchasing real estate. If you have a loan in a bank in
The bank issues a document that the repayment has been completed for the repayment of the loan, and you can use the document to proceed with the honor transfer procedure.
SOFT TITLE (Confirmation of Occupancy Status)
The documents that foreigners are called as above in the local area are not legal documents. It refers to a document in which landowners buy and sell their own real estate in the local area and use the real estate contract of the administrative office at the village or county level to sign a real estate sale contract. At the time of a sale contract, you can proceed with the procedure with a general administrative contract and transfer it to a certificate of registration right at each state government or at the Phnom Penh registry office. It refers to a contract that is held in the state of a sale contract without transfer of registration to a certificate of title.
In general, local (VILLAGE or DISTRICT) documents are also called, and foreigners call these documents SOFT TITLE. It seems that it was called so because there was no proper name for the document just before the creation of the registration certificate.
When selling villas and flat houses of local companies in Cambodia that are currently being sold for sale, they are sold in the same way as above. We are selling villas or flat houses through the sale contract. Such a contract is exactly a confirmation of possession (Possession Title), and the purchaser has to go through the land right process with the certificate of title back to the city hall or local government with such documents.
real estate investment
Currently, in Cambodia, a number of development projects are underway in Phnom Penh, the capital of the country. Mainly, development of villa complexes and housing complexes in the outskirts of Phnom Penh is taking place due to the development of new towns in the downtown area, which is expanding along with the progress of urban infrastructure. Mainly downtown areas are being redeveloped with high-end condos and apartments, and large-scale high-rise complex buildings are being built one after another. As the department store of AEON Mall in Japan stabilized at the center, the second AEON MALL project is being built in the second outskirts of Phnom Penh, where villas and housing complexes are being built by Korea’s Amco Construction.
Although some areas of the provincial tourist cities of Siam Reap and Sihanoukville are being developed little by little, the whole city is not being developed like Phnom Penh. So, it can be seen that all foreigners are currently investing in development in Phnom Penh, Cambodia, and in the meantime, global distribution companies such as Starbox are coming in one after another, so another distribution industry war such as a war between telecom operators is taking place. Products entering the market with global brand value at the forefront are appearing in all industries including automobiles. In particular, in the distribution industry such as food and beverage, it is becoming a battleground for brands that are known around the world.
In conclusion, the battleground for such global brand products is opening up in the most expensive areas to do business in the best places in Phnom Penh. Or they are in a department store like Aeon Mall. After understanding this situation, the best global brand businesses either invest in the area where they want to lease their business sites, or follow the development direction of housing builders who want to develop small and medium-sized housing in the vicinity of many second new towns. There are several ways to invest in advance purchase.
We have a lot of experience in real estate investment with numerous corporations and individual investors, and we find and introduce the location of real estate in the business field we want to invest in. Currently, investments in Cambodia are mainly real estate in Phnom Penh. However, if you need to find real estate in a local area because of the business you want to invest in, we will always research and introduce you to the most suitable location for your business.
Investor Qualifications
Cambodia’s land law states that only Cambodian citizens, Cambodian organizations, and Cambodian corporations (with a local stake of 51% or more) can purchase land. Also, foreigners who have obtained Cambodian citizenship can purchase land. However, condos that are being sold recently can be purchased even as foreigners. Local housing developers, such as general villas and flat houses, also offer their
I am making a sale contract through a sale contract, but you cannot purchase a house in this way, so please refer to it.
