🏠 Step-by-Step Guide to Buying Property in Cambodia Using Cryptocurrency

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Buying property in Cambodia using cryptocurrency is a relatively new concept and comes with unique legal and practical considerations. Cambodia’s real estate sector stands out in its adoption of cryptocurrency, particularly in the capital, Phnom Penh. Here, off-plan condos can be purchased from developers via a trusted exchange or third-party providers (your personal agents if applicable ) in the country using USDT, which is then converted to US dollars and transferred to the developer’s official bank account.

Here's a full step-by-step guide to help you understand the process, from researching to closing a deal, with special attention to crypto-related steps.

Step 1: Understand the Legal Framework

1. Foreign Ownership Laws:

• Foreigners cannot own land in Cambodia directly.

• Foreigners can own condominiums on strata-titled properties, provided ownership doesn't exceed 70% of the building.

• Alternatives:

  • Long-term lease (up to 50 years, renewable).

  • Nominee structure (risky).

  • Land-holding company (joint venture with a local).

  2. Cryptocurrency Legality:

  • In late 2024, Cambodia took a significant step toward embracing digital finance as the National Bank of Cambodia (NBC) granted official approval for commercial banks and payment institutions to provide services involving stablecoins and asset-backed cryptocurrencies, categorized as Category 1 crypto assets.

  • Private agreements using crypto are also possible between willing parties.

Step 2: Choose the Right Property

1. Work with crypto-friendly real estate agencies or developers.

   You can consult with your trusted agents if they have an option that allows you to transfer the USTD or Crypto directly to their wallet address so they can convert it to USD and pay the transaction on your behalf, However, some developers in Phnom Penh and Sihanoukville accept crypto like Bitcoin, Ethereum, or USDT.

2. Decide on property type:

   • Condo unit (strata-title).

   • Commercial property (with lease or company setup).

   • Land (via Cambodian company or lease).

Step 3: Due Diligence and Legal Checks

1. Check the title deed (strata or hard title).

2. Verify developer credibility (especially in off-plan or new developments).

3. Hire a reputable lawyer or consult with your trusted agent to:

   • Draft/review the sales agreement.

   • Handle escrow if needed.

   • Validate the title and ownership.

Step 4: Crypto Payment Setup

1. Agree on cryptocurrency type and value equivalent (typically pegged to USD).

2. Decide on payment method:

   • Direct wallet transfer.

   • Escrow wallet (preferable for protection).

3. Use a trusted crypto payment platform such Binance, Bybit or CoinBase

Step 5: Draft and Sign the Sale Agreement

1. The agreement should include:

   . Price in both USD and crypto equivalent.

   . Wallet addresses for transfer.

   . Clauses for delays or failed transactions.

   . Details on the title transfer process.

2. All parties must sign in front of a lawyer or a witness (can be a personal sales agent)

Step 6: Complete the Crypto Transaction

1. Transfer the agreed cryptocurrency to:

• Seller's wallet or your personal trusted agent’s wallet

• Escrow service wallet.

2. Confirm the transaction:

• Screenshot the blockchain transaction ID

• Wait for the required confirmations

3. Once confirmed, the seller acknowledges receipt of your transaction.

Step 7: Register the Property (if applicable)

1. For strata-title condominiums:

   . Register ownership at the Land Office.

   . Include the sales agreement and seller's ID/passport.

2. If using a company structure:

   • Register the company (with local partner).

   • Transfer the property into the company's name.

3. Lease options require the lease agreement to be notarized and registered.

Step 8: Take Possession

Once registration is complete and keys are handed over (if the property is fully completed), the property is officially yours.

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Contact: ERA Cambodia

ERA Cambodia is a well-established real estate agency in Phnom Penh that offers the option to purchase off-plan condominiums using cryptocurrencies like USDT. We collaborate with trusted exchange providers to and personal service to convert crypto into USD, which is then transferred directly to the developer's official bank account.