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Cambodia My 2nd Home – What you need to know
A fortnight ago, the Khmer Home Charity (KHCA), in collaboration with the Ministry of Interior, announced a new golden visa programme, Cambodia My 2nd Home (CM2H). CM2H will offer successful applicants an unrestricted ten-year visa and a five-year path to citizenship, among other benefits.
The first phase of the programme is expected to begin on friday 22 of July, with a ceiling of 10,000 visas.
How do I qualify for CM2H membership?
As previously announced, the programme targets foreign investors. The main criteria to be eligible is therefore an investment capital of USD 100,000.
It is important to note that, for the time being, it is not mandatory to own property in Cambodia to be eligible. Indeed, successful applicants will be allocated a stall in a market complex in Phnom Penh managed by GC Property and this stall will be considered as real estate.
In other words, the USD 100,000 investment fulfills both the investment and ownership conditions.
Please note that this information is subject to change and that other types of eligible investments may be accepted in the future.
What is the current procedure?
Under the current practice, applicants will first have to complete a registration form and provide a passport (or background information) for identity verification. In order for this step to be processed by the MOI, an initial payment of USD 30,000 must be made into the association’s official bank account (ABA bank).
The verification process will take 3-7 days, after which, if successful, the applicant can proceed with the submission of the application form and the second payment of USD 70,000. If the MOI rejects the identity check, the applicant will be refunded the USD 30,000.
Once the application is processed, the newly registered member will receive membership cards and certificates, insurance contracts, etc., and will enjoy all the benefits of the programme to settle smoothly in Cambodia.
In conclusion
The CM2H programme is officially about to be launched and seats are limited. The news was greeted with great enthusiasm and widespread media coverage. Many people have already expressed interest in the programme because of the benefits offered and because Cambodia continues to attract attention as a promising destination.
However, being among the first applicants is often confusing. Gathering all the information and ensuring a successful application can be complicated. At Belaws, we have the experts and resources available to help you through the process and ensure that your investment lands in the right hands.
To find out more about moving to Cambodia and the CM2H programme, why not book a consultation with one of our experts.
Additionally, you can take a look at our visa services for Cambodia here.
Please note that this article is for information purposes only and does not constitute legal advice.
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