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Cambodia has launched a “My 2nd Home” programme to encourage foreign investment in the country. The programme features a 10 year long “Golden Visa” with unlimited entry and exit and other benefits. But how does it compare with Thailand’s 10 year Long Term Resident visa?
“1 – The applicant must be a citizen of a country or region recognized by the Cambodian government, regardless of race, religion, or gender,
2 – The applicant must obtain approval from the Ministry of Interior,
3 – The applicant must be 18 years old and above,
4 – The applicant must have an investment capital not less than USD 100,000 in Cambodia,
5 – The applicant must own a real estate project approved by the government in Cambodia,
6 – The applicant is eligible to apply for a personal bank account and a trust account,
7 – The applicant does not require to submit proof of language competency test or academic qualifications.”
Thailand LTR Visa
Thailand offers a 10 year “Long Term Resident” visa which also aims to attract foreign investment. In May, the application fee was halved from 100,000 baht to 50,000 baht.
The eligibility criteria for Thailand’s LTR visa is slightly more complicated, but not necessarily more demanding than Cambodia’s Golden Visa.
Thailand’s 10 year visa is aimed at foreigners who fall under 4 categories: 1) wealthy foreigners 2) retirees 3) working foreigners and 4) specialists. All groups are welcome to bring their spouse and up to 4 children, as long as the children are under the age of 20.
The groups have different requirements to get the visa…
Groups 1 & 2: Wealthy Foreigners and Retirees
Must purchase a health insurance policy which covers medical expenses of no less than US$50,000 for at least 10 months starting from the date of the application OR provide a social security certificate covering medical expenses in Thailand OR provide proof of at least US$100,000 held in a Thai or foreign bank account for at least 12 months before the application date.
Must have evidence of an average income of at least $80,000 for at least 12 months before the application date.
Groups 3 & 4: Working Foreigners and Specialists
Must show an employment contract or service contract with a domestic OR a foreign business.
Must provide proof of 5 years of work experience in the relevant industry conducted within 10 years of the application date.
EXCEPTIONS: those who work in the following are NOT required to provide evidence of work experience: government research institutions, higher education institutions, specialised training centres, government agencies and PhD graduates.
10-years Golden Visa
We will assist foreign citisens who wish to settle down in Cambodia to obtain a 10-years Golden Visa. After 5 years the applicant can apply for a Cambodian passport.
There are 2 process payment:
1st step: Registration - pay USD$30,000.00 for Registration and provide valid passport for verification. If registered unsuccessfully, money will be fully refunded.
2nd step: Application - pay USD$70,000.00 for Application and complete application form for documentation.
The benefits customer will get are:
1. FREE 10 years membership of Khmer Home Charity Association.
2. FREE 10 years visa.
3. FREE 1 market stall in GC Orussey project - Market complex.
4. FREE 1st year FORTE Life and medical Insurance.
5. FREE registration of 1 company in Cambodia – mid scale.
6. FREE Bank account registration with UDS$100.00 cash in company account and USD$10.00 cash in personal account.
7. FREE international driving license exchange to local international driving license for the 1st year only.
8. FREE 10 year working permit
9. FREE gift box – with government recognized car emblem.
10. FREE consultation in real estate, taxes and legal, educational institution, language translation and special merchant discount for appointed outlet.