Introduction: Ownership over Immovable Property in Cambodia
The Constitutional Law in Cambodia only allows natural persons or legal entities with Cambodian nationality to own lands or immovable property. A Cambodian natural person refers to those who are citizens of Cambodian and hold Cambodian nationality. According to Nationality Law of Cambodia, the Cambodian Nationality can be obtained through Citizenship by Birth, Full Adoption, Marriage or Nationalization. On the other hand, a Cambodian Legal Entity (the “Entity”) refers to an enterprise which is registered in Cambodia. A majority shareholder (the “Cambodian Shareholder”) with 51% shares or more must be Cambodian natural person(s) or Cambodian legal entity(s), while 49% shares or less might be hold by a foreigner(s) or foreign entity(s) (the “Foreign Shareholder”).
These share percentages shall be stipulated in the Article of Incorporation. The law does not recognize any private agreement between shareholders which are against this provision. Thus, any change of share, which superseded the Entity’s nationality, shall be informed to the competent Ministries or Institutions…