Blog

Leverage Assets from Singapore to purchase property in Cambodia

Maybank CambodiaManaging foreign exchange and other legal issues when doing business and buying property in Cambodia Maybank Cambodia in association with Sciaroni & Associates and the Singapore Business Club held a power packed 1 hr informative session Wednesday evening on doing business in Cambodia and the legal side of purchasing properties.   Managing Foreign Exchange Risk As a significant portion of foreign business’s either import/export their products, it is easy to forget about managing your foreign exchange currencies.  Slight variations in forex can lead to extra profits or increased costs & stress which would affect the company’s competitiveness. Maybank Cambodia provides the facilities to manage a business’s foreign exchange risk by hedging their foreign exchange transactions.  By hedging, you can lock in the forex change rate for up to a period of 12 months for that particular transaction.  Hedging can be done in the form of any amount up to 100% of the transaction amount Through their international network, Maybank Cambodia has 28 currencies available.   15388563_348164085555555_255609003_o-1Leverage Assets from Singapore to purchase property in Cambodia Acquiring a loan in Cambodia can be difficult for foreigners, especially if their assets and primary source of income are held overseas.  Maybank Cambodia has the financial instruments to use the clients assets in Singapore as collateral for a loan in Cambodia.  When setup correctly, this methodology has several advantages such as

  • Ability to keep current asset: no need to sell assets in Singapore to transfer money into Cambodia
  • Lower interest rates: Interest rates in Singapore is less than 1% compared to over 8% in Cambodia

Real Estate Laws Mr Yee Kai, legal advisor with Sciaroni & Associates, gave a quick overview of the purchasing process in Cambodia and the various methods to acquire properties.  Although the industry does have its challenges, using the right legal structures with correct advice does provide opportunities for investors to capitalize on the market situation. The evening was a relax social environment with informative speeches.  Thank you Maybank Cambodia for organizing the event and making it easier for foreigners to access bank loans.   *Please note: Yong Yap Properties is not affiliated with Maybank Cambodia or Sciaroni & Associates.  This is an independently written article.   To find out more information, feel free to contact presenters directly Nicolas Wang Relationship Manager Premier Wealth, Maybank +855 16 888 469 Nicholas.wang@maybank.com.kh   Mr Thanabalan Head of Global Markets, Indochina Maybank thanabalan@maybank.com.kh   Mr Yee Kai Legal Advisor Sciaroni & Associates yeekai@sa-asia.com +855 400 623     Topic: Managing foreign exchange and other legal issues when doing business and buying property in Cambodia Host: Maybank CambodiaSciaroni & Associates and Singapore Business Club Venue: Maybank Tower, #43 Norodom blvd Time: 7th December 2016 7:00pm – 8:00pm   15416868_348164058888891_583942871_n 15416954_348164118888885_1618886508_n 15388563_348164085555555_255609003_o-115368836_348164135555550_131562432_o