Cambodia’s Interior Ministry has announced the opening of its new residence by investment scheme, the Cambodia My Second Home program. Qualifying for the CM2H, which is a renewable visa with a validity of ten years, will require a US$100,000 investment. The program will be operated by the Khmer Home Charity Association (KHCA), a recently established agency, and marketed by Hong Kong-based GC Property.
Although the official program website offers scant details about qualifying investment types, several press releases have indicated that real estate will be among the eligible asset classes. Speaking to Pattaya Mail, a KHCA spokesperson indicated the program would target expat professionals and retirees, though anybody who made the requisite investment would be considered. Though providing a step-by-step online application guide, the KHCA has not issued a detailed list of qualifying investments. “We will judge every application on its merits rather than issuing lengthy checklists,” the spokesperson told Pattaya Mail.
The program will compete with similar Southeast Asian residence by investment programs, like Thailand’s Elite Visa, the Philippines SIRV, and – not least – the Malaysia My 2nd Home program, which plainly inspired the Cambodian program’s name.
The CM2H will have at least one substantial competitive advantage over its regional peers: A clearly defined path to citizenship. Though the visa is valid for ten years, those who maintain their investment for five years will become eligible for naturalization in Cambodia. Note that Cambodia already has a direct citizenship by investment program, which requires a US$245,000 donation or a US$305,000 investment in approved projects.
The agency promises a processing time of as little as 7 to 14 days, no physical presence requirements, and – unlike other regional programs – stipulates no requirements on foreign-source income or medical insurance. In fact, state-sponsored medical insurance is included in the package, as is the inclusion of close family members. It was not immediately clear whether any associated government or agency fees would apply.