When the buyer needs to register the property right (hard card) after the house is handed over, the buyer should pay the relevant certificate fees and taxes stipulated by the Cambodian government by 4%.
2. Taxes and expenses to be paid for buying a house.
★ If you need to apply for a hard card, you need to pay the registration tax (4% of the house price of the house purchase contract or according to the regulations of the Cambodian government at that time).
★ The annual real estate tax is 0. 1% of the total house price above $25,000 assessed by the tax bureau, and the property tax is not required for those below $25,000 (calculated according to the regulations of the Cambodian government).
For example, the annual real estate tax is (total house price-25,000 USD) X0. 1%.
3. Procedures to be handled when handing over the house
★ Cover the handprint and hand it over.
★ Write a power of attorney (entrust the company to rent or sell on its behalf).
★ Bank account opening (including online account opening) (if money is to be exported from banks in Phnom Penh through the internet, it is necessary to do a good job of local bank network authorization).
★ Pay off the house payment.
★ Pay the management fee and basic water and electricity fee in advance for 6 months. After renting the house, the management fee and water and electricity fee shall be paid by the tenant, and the basic water and electricity fee shall be refunded more and supplemented less.
★ Sign the household convention and property management regulations.
★ After the house delivery formalities are completed, you can prepare documents according to the regulations, pay taxes and agency fees, handle hard card and register ownership procedures.
4. Fees to be paid when the house changes hands.
★ The buyer must pay 4% of the price announced by the Cambodian government as the house transaction tax, or according to the regulations of the Cambodian government at that time.
★ If you are looking for an intermediary, you need to pay a commission based on the market. (generally 3%-5%).
5, foreigners in Cambodia to collect rent tax fees.
The foreign landlord only needs to pay 10% rental income tax if he has a permanent residence in Cambodia or stays in Cambodia for more than 182 days. For foreign landlords who have no fixed residence or stay in Cambodia for less than 182 days, they must pay 14% of the rental income. (The above can be borne by the tenant).
6. How do foreigners buy a house in Cambodia?
★ Preparation materials:
The Bureau of Land Management and Urban Planning and Construction needs all documents proving the identity and marital status of the final buyer, and these documents also need to be translated into Khmer.
Because there is only one form of apartment property right in Khmer, English names cannot appear on the apartment property right, and all buyers' names need to be translated into Khmer. Khmer buyers, foreign buyers and development companies must meet the requirements of different processes and documents.
In this process, a qualified local law firm is invited to review these documents and their translations, and is responsible for contacting the land department, which can provide legal support for the buyer in the whole transfer process before paying the transfer tax.
★ Transfer process:
Buyers themselves must be in Cambodia, and they should put their money on their supporting documents, but most importantly, both the sales contract and the transfer application need to be standard templates provided by the land department. Therefore, international investors must return to Cambodia to complete the transfer of property rights.
★ About the cost:
Transfer tax This tax is generated when the seller transfers the property to the buyer's name and needs to be paid to the provincial or municipal unit where the property is located. In addition to paying 4% transfer fees, the buyer has to pay 1000 USD to the local taxation bureau as a service fee. Usually, it takes 12 weeks for the local taxation bureau to handle the transfer of hard property rights.
As far as transfer tax is concerned, the same documents and other forms need to be submitted to the State Administration of Taxation after the supporting documents have been approved by the land department. The local tax staff will evaluate the value of the house according to the established scope and calculation method, and then will issue a tax payment list indicating the specific payment amount. After the State Administration of Taxation issues the buyer's tax payment certificate, the land department can complete the transfer of property rights.