by PSD_Kiwi » Tue Feb 20, 2018 9:33 pm
This is worth noting if you're married to a Cambodian and have children under 18, just in case your wife/husband dies before You...
“If a foreigner inherits a property, and that property doesn’t have a strata title – or is not being held through a company with a Cambodian majority shareholder – he or she cannot assume ownership of the estate. In this situation, the law dictates that the estate becomes a legal entity, which the foreigner must sell within three months. The profits are then distributed among the heirs (including foreigners) and the entity is dissolved.
If the estate cannot be sold within three months, it must be handed over to the next inheritor in line holding Cambodian citizenship.”
https://www.b2b-cambodia.com/articles/g ... -cambodia/
I'm not sure whether it's possible to set up a trust in Cambodia? If it is possible, put the property into the trust and make the kids the trustees?
This is worth noting if you're married to a Cambodian and have children under 18, just in case your wife/husband dies before You...
“If a foreigner inherits a property, and that property doesn’t have a strata title – or is not being held through a company with a Cambodian majority shareholder – he or she cannot assume ownership of the estate. In this situation, the law dictates that the estate becomes a legal entity, which the foreigner must sell within three months. The profits are then distributed among the heirs (including foreigners) and the entity is dissolved.
If the estate cannot be sold within three months, it must be handed over to the next inheritor in line holding Cambodian citizenship.”
https://www.b2b-cambodia.com/articles/getting-a-last-will-and-testament-written-in-cambodia/
I'm not sure whether it's possible to set up a trust in Cambodia? If it is possible, put the property into the trust and make the kids the trustees?