Cambodia Launches “My Second Home” Program to Encourage Foreign Investment

Publication date Tuesday, 05 Jul 2022

PHNOM PENH, July 5: Cambodia has launched a programme to encourage foreign investment that offers a ten-year visa and other benefits to those who invest in the country, reports Laotian Times.

Local media reported that the “Cambodia – My Second Home” programme has been exclusively launched by the Khmer Home Charity Association with full authorization from the Ministry of Interior, with the goal of promoting trade and investment while eliminating unauthorized intermediary companies.

Applicants for the Cambodia My 2nd Home (CM2H) programme will have access to a number of business-friendly measures, such as 10-year visas with no entry or exit restrictions, as well as an option to apply for Cambodian citizenship after five years.

Foreign investors will also benefit from Khmer Home Charity Association membership under the programme, which will grant them access to local insurance coverage and VIP medical treatment, among other advantages.

According to the official website of ‘Cambodia My Second Home’ (CM2H) programme, applicants must be a citizen of a country recognised by the Cambodian government and must have investment capital of not less than US$100,000 in Cambodia.

No language proficiency or academic qualifications are required by those wanting to enter the program.

Investors will receive their CM2H membership number within seven days, while the visa will be processed within 14 days, according to the program website. Bank accounts, patents, and business licenses guaranteed after 60 days.

 

 

Link to Original Article: https://www.thestar.com.my/aseanplus/aseanplus-news/2022/07/05/cambodia-launches-my-second-home-programme-to-encourage-foreign-investment#.YsQidP3TahZ.whatsapp