Cambodia My Second Home Program | A Complete Guide
What’s Cambodia’s My Second Home Program?
Effective June 30, 2020, the Cambodian government launched its “My Second Home Program,” which allows foreigners to obtain residency through real estate investment. Simply put, by investing at least $50,000 USD in government-approved real estate projects and paying a $50,000 USD ten-year membership fee, foreigners can apply for a ten-year Cambodian residency permit. The residency permit remains valid as long as the initial investment is maintained, offering a stable and extended stay in the Kingdom.
Beyond the investment, participants in the My Second Home Program must meet basic eligibility requirements, including being at least 18 years old, in good health, having no criminal record, and being from a country diplomatically recognized by Cambodia.
This Program stands out for several key reasons, making it an attractive option for those considering a move or investment in Southeast Asia:
1. Cambodia’s Official Golden Visa: This program is the only “golden visa” scheme officially promoted by the Cambodian government that directly links investment to residency rights. This official backing provides a level of security and transparency that can be reassuring for applicants.
2. Expedited Citizenship Pathway: One of the most compelling features is the accelerated route to citizenship. Program participants become eligible to apply for Cambodian nationality after just five years of residency. This offers a significant advantage over the standard naturalization process for foreigners, which typically requires a minimum of seven years of continuous residency.
3. Enhanced Local Benefits and Work Eligibility: Participants are granted access to a range of local VIP treatments, particularly in the education and healthcare sectors, providing a more comfortable and privileged experience. Furthermore, enrolling in the My Second Home Program confers eligibility to apply for a work permit, thereby allowing participants to work freely within Cambodia.
How to apply for Cambodian My Second Home Program:
The “My Second Home” program offers a streamlined pathway to Cambodian residency through real estate investment. Understanding the application process is key to a smooth journey. Here’s a breakdown of the typical steps involved:
Step 1: Submitting Your Application:
Once you’ve decided on your investment direction, the first step is to gather all necessary documentation and submit your application to the Cambodian Ministry of Interior to participate in the My Second Home program.
Required documents generally include:
- Applicant Identification: This covers valid passports for all main and dependent applicants, copies of identification cards, five passport-sized photos, and relationship proofs like birth certificates or marriage certificates for dependents.
- Application Form: You’ll need to complete the official My Second Home program registration form.
- Curriculum Vitae (CV): The main applicant must provide a personal CV, including copies of educational background certificates.
- Proof of Financial Capacity: To demonstrate your ability to complete the investment and sustain your life in Cambodia, you’ll need to submit financial documents. This includes bank statements from your primary account for the past year, license information for any companies under the main applicant’s name, and proof of income.
- Medical Certificate: All main and dependent applicants must undergo a medical examination at a domestic medical institution recognized by the Cambodian government.
Step 2: Background Check:
After receiving your application, the Cambodian Ministry of Interior will conduct a thorough review of the personal information and financial background of all main and dependent applicants. Only those who successfully pass this vetting process will be eligible to proceed with the My Second Home program.
Step 3: Completing Your Investment:
Once you’ve cleared the background check, you can prepare to finalize your real estate investment. This involves signing the property investment agreement and paying the My Second Home program membership fee.
Step 4: Visa Issuance:
Upon completing your investment and submitting proof of completion, applicants will receive their My Second Home program membership card. With this card in hand, you’re free to choose when to relocate to Cambodia.
Notably, My Second Home program participants who receive their membership card can opt to apply for a Cambodian work permit after 30 days. This grants you the right to work freely within the country, adding another layer of flexibility and opportunity to your residency.
Dependents：
For the Cambodia Second Home Program, the main applicant’s spouse and minor children can settle locally as dependents.
Visa Validity:
The Cambodia Second Home Program is valid for ten years. Upon expiration, it can be continuously renewed as long as the investment is maintained.
Participants in the Second Home Program who have legally resided in Cambodia for five years are eligible to apply for naturalization and local citizenship.