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Retire in Cambodia
Living & Investing In Cambodia
If you are looking for a relatively inexpensive place to retire, consider Cambodia. The cost of living in Cambodia is very low, making it an attractive place to
retire. Basic necessities such as food and housing are readily available at low cost. Many retirees enjoy how they can live comfortably on significantly less than it
would cost for the same standard of living in other countries such as the United States.
 Song Saa Private Island, Cambodia
Cambodia is experiencing the largest real estate boom in Asia, particularly in Phnom Penh. Foreign investors, combined with local partners, are building large condominium
projects to capitalize on the features that foreigners tend to enjoy
Wide streets, Visually-interesting housing, A contemporary atmosphere, Attractive river view
Rental housing is inexpensive and plentiful in Phnom Penh. Rental costs range from about $200 a month for a small apartment to about $1,000 a month for a moderate apartment
of about 1,100 square feet. This same apartment can be purchased for about $300,000.
Foreigners cannot purchase land in Cambodia, including apartments on the ground floor. Retirees who want to buy houses are able to purchase the house structure, however
special arrangements must be made for the land under the house.
For example, the new homeowner can:
Lease the land on a short-term renewable lease.
Lease the land on a long-term lease of up to 99 years.
Create a locally-owned company with local Cambodians and purchase the land through the company.
Issues to Consider
Life in Cambodia can be difficult. It is a very poor country, which can often result in non-existent or inconsistent services. Relatively new policies by the Cambodian
government and the influx of foreign banks and lenders are improving the financial side of life for retirees in Cambodia.
Passport and Visa Requirements
To enter Cambodia, a valid passport and Cambodian visa are required. You can apply online for a Cambodian visa. Several types of visas are available including a business
visa which can be obtained without any proof of income or employment. A business visa is valid for up to a year. You may want to consider applying for Cambodian citizenship if
you plan to live permanently in Cambodia.
Be sure to research the situation before applying. According to the United States State Department.
"A person who acquires a foreign citizenship by applying for it may lose their U.S. citizenship."
 A Trip across Tonle Sap Lake, Cambodia
Utilities
Electrical power is inconsistent. Power outages are common both in the cities and rural areas.
Internet access is slow and expensive.
Travel
Night driving can be hazardous due to the poor condition of the roads and bandits in the rural areas.
Boat travel is often unsafe due to overcrowding.
Medical Facilities
Basic health care, prescriptions and over-the-counter medications are available in Phnom Penh and Siem Reap bit are difficult to find in rural areas. The quality of the care
and the medications may not be up to the standards enjoyed in the US. or Europe. People with major illnesses, or those requiring surgery, are usually evacuated to Thailand. Nursing
home facilities are available, but a retiree should not expect them to be of the standards mandated by the government in the United States.
Check your medical insurance coverage before you leave for Cambodia and specifically ask your insurer: -
Are you covered while you are in Cambodia?
Are you covered for prescriptions while in Cambodia?
Will their policy cover the costs of any medical evacuation out of Cambodia to Thailand or back to the Europe or the U.S.?
If you pass away in Cambodia, will your insurance cover any required movement of your remains?
Retirees who move to Cambodia may want to consider "expat health insurance." An Internet search will result in the names of insurance providers with this special type of health
care coverage.
Banking and Taxes
The U.S. dollar is commonly accepted with the local Cambodian currency given for change. ATMs for several international banks in Phnom Penh dispense U.S. dollars. Cash advances
in dollars can also be obtained using a Visa card at international banks.
Retirees may find it difficult to receive their retirement income from the U.S. For example:
Social Security checks cannot be mailed to Cambodia. They must be either deposited into a retiree's bank account or sent to the Embassy for pick up by the retiree.
Brokerage firms may not allow retirees to maintain the account they opened in the U.S. if they are permanently living in Cambodia.
Setting up an account with a large international financial institution with branches in Cambodia, such as Bank of America or CitiCorp, can be very helpful. These institutions
understand the challenges often experienced by an expat and can help a retiree move money to and from the U.S.
Be sure to investigate the Cambodian income tax rules. There is a sliding scale tax rate that charges up to 20percent on all income earned from anywhere in the world, including
retirement income. Individuals who have lived in Cambodia for a total of 182days or more in a calendar year are liable for Cambodian income taxes.
"Without Animals ther is no Paradise"
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