Welcome to Cambodia: The Land of Wonder
I have been in Phnom Penh, Cambodia, for almost 2 weeks now. A top destination for freedom loving crypto people - let me introduce you to it!
After I have been traveling through Thailand for three months, I arrived in Phnom Penh (Cambodia) ~two weeks ago, in order to explore the opportunities in this country, that also involved meeting my business partners from Relocatify, two expats who have been living and doing business here for many years already, in the area of providing banking solutions and real estate investments to foreigners - together we can help you to get set up in Cambodia in no time!
First Things First: Cambodia Key Facts
Most people do not know what to expect here, so let’s start with a few key facts:
Language: The official language is Khmer, which isn’t easy to learn tbh, but English is widely spoken in urban areas like Phnom Penh and Siem Reap, especially in tourist and expat communities.
Currency: The Cambodian Riel (KHR) is the official currency, though the US Dollar is commonly used, particularly for larger transactions. Small change is often given in riel at an approximate exchange rate of 4,000 KHR to 1 USD.
Visa Information: Most nationalities can enter Cambodia for 30 days visa-free. For longer stays one can apply for an E-Business VISA, which allows a year-long stay with the possibility of indefinite renewals if not employed locally; something that my partners can easily assist with!
Cost of Living: Cambodia is known for its affordability. Monthly living expenses for a single person can range from $800 to $1,500, including rent, food, and entertainment, depending on lifestyle.
Healthcare: While healthcare facilities in major cities like Phnom Penh have improved, the quality can vary. Expats often opt for international health insurance that covers medical evacuation to neighboring countries like Thailand or Singapore for serious conditions.
Cultural Considerations: Cambodia has a rich Buddhist heritage. Visitors should respect local customs, particularly around temples, where modest dress is required.
Digital Infrastructure: Internet connectivity has improved but can still be inconsistent outside Phnom Penh. High-speed internet is available in urban areas, and numerous co-working spaces have emerged.
Expat Community: Cambodia hosts a vibrant expat community, particularly in Phnom Penh and Siem Reap, offering social, networking, and cultural events.
Overall, Cambodia / Phnom Penh is a country full of kind people, a rich culture and traditions, paired with an unmatched level of opportunities over the next 10 years imo - bringing us to the more interesting part of this article!
Relocatify & CR1337: Proving Crypto Friendly Cambodian Bank Accounts & Real Estate Investment Opportunities
Since several months I am working closely together with Relocatify. Together we set up many of my followers with a Cambodian bank account that can be opened without ever setting foot into the country, and can be topped up with USDT, to have access to cash via VISA & Union Pay Cards, world wide.
The most important, yet most overlooked advantage, of a Cambodian bank account is the fact that this country has not signed the CRS (Common Reporting Standard), which means that the banks are NOT communicating with any foreign tax office, financial institution, etc.
If you are interested in more detailed info, you will find it in this older article of mine:
The process is straight-forward, with the first step being to create a TG / Signal /… group with you, my partners and me. Accounts are being set up within a few days, the card delivery depends on your location obviously.
Real Estate Investments in Phnom Penh & Koh Rong
The main business of Relocatify & me where we will work together is providing access to investments into real estate projects in Phnom Penh, as well as on the Cambodian island Koh Rong, with two in particular that are standing out currently:
Le Conde, Phnom Penh
Le Conde BKK1 is a 43-story luxury mixed-use development in Phnom Penh's prestigious BKK1 district. It's known for:
Being Cambodias first smart home project with Xiamoi Tech
Offering luxury amenities like a sky jogging track, infinity pool, and sky garden.
Housing fully furnished units from studios to three-bedroom apartments (studios starting at $120,000, one-bedroom apartments at $200,000)
Drawing architectural inspiration from Cambodian culture and nature.
Receiving multiple awards for design and development.
Completed in June 2024, it's aimed at both residents and investors looking for high-end living with potential high ROI.
And guess what - you can even pay in XMR. Yes, you read that right.
Satoshi’s Paradise, Koh Rong
Koh Rong has seen significant real estate development, particularly targeting tourism with resorts, villas, and commercial properties; with ‘Satoshi’s Paradise’ being currently the most exciting project there.
The price for a 60m² bungalow witht access to a swimming pool starts at $119,000, while there will be approximately 50 premises available.
Why ‘Satoshi’s Paradise’ as the name? Simple, there will be a Bitcoin ATM as well as options to pay for goods and services with Bitcoin on the island, a first in Cambodia.
Soon I will visit Koh Rong myself, afterwards there will be a detailed follow-up article!
If you are interested in anything, the bank accounts, real estate investments, or simply have questions about the life here in Phnom Penh, feel free to contact me via X or E-Mail (cr1337 [at] tuta [dot] io)!