Cambodia's Golden Visa for Investors: How the CM2H Programme Actually Works, What It Costs, and Whether the Citizenship Pathway Is Real

Updated: March 28, 2026

Cambodia's CM2H (Cambodia My Second Home) programme grants a 10-year renewable visa to foreign investors who purchase property in a government-approved real estate project and pay a membership fee to the Khmer Home Charity Association (KHCA), with total costs starting at approximately USD 100,000 and eligibility to apply for Cambodian citizenship after five years.

In this guide

CM2H Application Process at a Glance
Who the CM2H Is Designed For
Programme Overview
How the Application Process Actually Works
What the CM2H Costs — A Real Breakdown
Approved Real Estate Projects
Documents You Will Need
What You Receive as a CM2H Holder
The Citizenship Pathway: What It Actually Requires
Practical Considerations and What to Watch For
Frequently Asked Questions

CM2H Application Process at a Glance

Submit a registration form and pay the USD 10,000 initial KHCA membership fee
Complete due diligence and background checks through the Ministry of Interior
Receive approval to proceed; pay the remaining USD 40,000 KHCA membership fee
Select and purchase a property from the government-approved project list
Present the Sale and Purchase Agreement to the Ministry of Interior
Travel to Cambodia to receive the CM2H visa sticker in your passport

> This guide reflects the CM2H programme structure as understood in March 2026. Cambodia's investment immigration framework is relatively new and terms may change — notably, Cambodia's nationality law was substantially updated by Sub-Decree No. 225 in December 2025. Verify current requirements directly with the General Department of Immigration (GDI) or an authorised CM2H agent before committing funds.

For a foreigner exploring long-term residency in Southeast Asia — comparing financial thresholds, property rights, and what kind of legal status each country actually delivers — the CM2H sits in a specific niche: lower investment than most European golden visas, higher than the ordinary E-type extension system covered in our Cambodia long-stay visa guide.

This guide covers how the programme works in practice, what the real costs are, what investors receive, and what the citizenship pathway actually requires. It does not cover Cambodia's separate direct Citizenship by Investment route, which was restructured under Sub-Decree No. 225 (December 2025) with significantly higher investment and donation thresholds than the previous framework — readers interested in that route should consult current practitioner sources.

Who the CM2H Is Designed For

The CM2H targets investors, business owners, retirees, and professionals who want long-term legal residency in Cambodia backed by a real estate investment. It was launched in June 2022 by the Ministry of Interior (ក្រសួងមហាផ្ទៃ) through the Khmer Home Charity Association (KHCA), with the General Department of Immigration (GDI, នាយកដ្ឋានអន្តោប្រវេសន៍) as the issuing authority for the visa itself.

Factor	Details
Visa validity	Up to 10 years, renewable
Entry/exit	Unrestricted multiple entry
Investment minimum	~USD 100,000 total (KHCA membership + approved property)
Minimum residency	None — no requirement to live in Cambodia for the visa
Citizenship pathway	Eligible to apply after 5 years — requires Khmer language, cultural knowledge, and additional conditions; outcome is not guaranteed (see citizenship section)
Restricted nationalities	Iran, Iraq, Lebanon, North Korea, Syria (per authorised agent sources — confirm eligibility directly with KHCA or a Cambodian consulate)

This programme is well suited for investors who want legal residency without the annual renewal cycle of the ordinary E-type system, who are interested in Cambodian real estate as an asset class, or who value the stated citizenship pathway that few other ASEAN residency programmes offer. Cambodia permits dual citizenship, which means acquiring a Cambodian passport does not require renouncing your existing nationality.

Programme Overview

The CM2H is operated by My Second Home CM2H (Cambodia) Co., Ltd. in partnership with the Khmer Home Charity Association (KHCA). The KHCA is the only association recognised by the Ministry of Interior for the CM2H collaboration. The GDI issues the visa itself.

The programme structure works as follows: the applicant pays a total KHCA membership fee of USD 50,000 (in two stages), purchases a property in a government-approved real estate project, and upon Ministry of Interior approval, receives a 10-year visa sticker in their passport. There is no interview, no language test, and no minimum residency requirement for the visa itself. The application checklist includes a medical check-up report from the applicant's home country — this appears to be a documentary requirement rather than a pass/fail medical barrier, as no specific health standard has been publicly identified as a disqualifying condition.

The visa grants the right to live, work (with a work permit arranged separately through MLVT), study, and conduct business in Cambodia. After five years, holders become eligible to apply for Cambodian citizenship through naturalization — though that stage has its own separate requirements and the outcome is discretionary.

How the Application Process Actually Works

The process moves through three phases: verification, application, and residency. Practitioner sources consistently describe a 4–6 month timeline from initial registration to visa issuance, though this depends on the completeness of documentation.

Phase 1 — Verification

Complete the CM2H registration form and pay the initial KHCA membership fee of USD 10,000. The Ministry of Interior conducts eligibility assessment and background checks. If the application is rejected at this stage, the membership fee is refunded after deducting a USD 250 administrative fee.

Phase 2 — Application and Investment

Once verification clears, the applicant receives permission to proceed. At this point:

Pay the remaining USD 40,000 KHCA membership fee
Select a property from the list of government-approved projects
Complete the purchase and submit the Sale and Purchase Agreement (SPA) to the Ministry of Interior
Complete all application forms and pay remaining government and legal fees

The applicant must prove that their source of funds is legitimate.

Phase 3 — Visa Issuance

Apply for an E-visa to enter Cambodia. Upon arrival, the CM2H visa is issued within approximately 10 working days as a sticker affixed to your passport. The applicant must travel to Cambodia in person for this step — there is no time limit on when to enter after approval. The CM2H visa replaces any existing E-type visa.

What the CM2H Costs — A Real Breakdown

The total investment minimum is approximately USD 100,000, combining the KHCA membership fee and the property purchase. However, the actual total depends on the specific project and unit selected.

The breakdown below reflects the structure described by authorised agents and practitioner sources. The official CM2H site states a minimum investment of USD 100,000 including both KHCA membership fees and purchase of an approved project, but does not publish a detailed public fee schedule.

Cost Component	Amount (USD)
Initial KHCA membership fee (verification stage)	10,000
Remaining KHCA membership fee (application stage)	40,000
Minimum property purchase in approved project	50,000+
Minimum total	~100,000

Some sources describe the minimum investment differently — some cite USD 50,000 total (membership only, with a smaller property purchase), while others cite USD 100,000 as the combined minimum including membership and property. Prospective applicants should confirm the current fee structure directly with an authorised agent before committing.

Additional costs to budget for: legal and due diligence fees charged by your immigration law firm or agent, property transfer and registration fees, and any ongoing property maintenance or management charges.

Spouse and family inclusion: The CM2H visa is issued individually, but family inclusion can be structured in more than one way. Practitioner sources commonly describe a USD 5,000 family-inclusion fee per dependent for adding a spouse or child under the main applicant’s file, while some authorised agents also describe a USD 30,000 separate spouse membership for a spouse who wants independent CM2H status rather than dependent inclusion. Some sources also mention an additional USD 500 annual dependent visa processing fee, which is separate from KHCA membership.

NOTE that these figures are drawn from 2025–2026 practitioner and authorised-agent materials rather than a fully published official public KHCA fee schedule, applicants should request a current written price breakdown from KHCA or an authorised CM2H agent before committing.

Approved Real Estate Projects

The CM2H programme maintains a specific list of government-approved developments. Project approval status is subject to change and depends on the developer maintaining an active partnership agreement with KHCA. As of early 2026, publicly listed projects include:

La Vista One — A 41-storey twin-tower waterfront development in Chroy Changvar district, Phnom Penh, situated at the Mekong and Tonle Sap river intersection
Time Square Condominium — A mixed-use development in central Phnom Penh
GC Orussey Market — A six-storey wholesale commercial complex in Phnom Penh featuring traditional Khmer architecture
Nadi Villa — A high-end residential community in Phnom Penh

Only properties within these designated projects qualify for the CM2H programme. Purchasing a property elsewhere in Cambodia — regardless of value — does not satisfy the CM2H requirement. The approved project list changes over time; confirm the current list with your agent or with the KHCA directly before committing.

Foreign nationals can legally own condominium units from the first floor up in Cambodia, subject to a 70% foreign ownership cap per building. Land ownership is reserved for Cambodian citizens. A title deed is issued by the Ministry of Land Management, Urban Planning and Construction for qualifying purchases.

Documents You Will Need

The following is based on programme and practitioner descriptions. The KHCA and authorised agents handle most of the document preparation.

Required — All Applicants

Valid passport — CM2H agents and affiliated sources consistently state a minimum of 26 months remaining validity, which is longer than the standard 6-month requirement for ordinary visas; confirm the current requirement with your agent
Completed CM2H registration and application forms
Proof of legitimate source of funds (bank statements, income documentation)
Clean criminal record certificate from your country of residence
Medical check-up report from a hospital in the applicant's home country
Passport-sized photographs per specification
Sale and Purchase Agreement for the approved property

Conditional / If Applicable

Marriage certificate and birth certificates for any dependents (if sponsoring a spouse or children)
Company registration documents (if the applicant intends to register a business in Cambodia as part of the programme)

Translation and Legalisation

Authorised agents commonly require notarisation and Khmer translation for foreign-language documents. The KHCA and agents typically coordinate this process — confirm the exact requirements for your case.

What You Receive as a CM2H Holder

The CM2H visa comes bundled with a set of membership benefits through the KHCA. Based on programme descriptions across multiple sources, benefits fall into three categories:

Confirmed immigration and legal status

A 10-year renewable visa with unrestricted multiple entry and exit. The right to live, work (work permit required — see below), study, or conduct business in Cambodia. Eligibility to apply for citizenship after five years, subject to a separate process (see citizenship section).

Property

Title deed for the purchased property, issued by the Ministry of Land Management, Urban Planning and Construction.

KHCA assistance services (10-year membership included)

The KHCA provides assistance arranging the following — these are services KHCA coordinates on the member's behalf, but each depends on the relevant government authority for processing and approval:

Work permits through the Ministry of Labour and Vocational Training (MLVT) — MLVT issues work permits subject to its own processing and renewal requirements; the "10-year" framing in programme materials refers to the duration of KHCA assistance, not a single permit issued for 10 years
Company registration
Bank account opening (commonly ABA Bank)
Cambodian driver's licence conversion
Trust account opening with a licensed trust company

Included membership perks

First-year health insurance coverage
Consultation services on healthcare, accommodation, taxation, legal matters, education, and translation
VIP airport transfer and entry arrangements (by reservation; daily quotas apply)
One complimentary Phnom Penh city tour

These services are described as included in the membership at no additional fee, though daily quotas and advance reservations may apply to certain services.

The Citizenship Pathway: What It Actually Requires

The CM2H markets a pathway to Cambodian citizenship after five years. This is the programme's most distinctive feature in the region — but the citizenship step is not automatic, and it involves legal requirements that are substantially more demanding than the initial visa application. Understanding the gap between the programme's marketing and the underlying legal framework is essential before committing.

What CM2H officially states

The CM2H programme's own materials say holders can "apply for a Cambodia passport after 5 years" and describe this as "the only official pathway to apply for a Cambodian passport." Based on the programme's published citizenship requirements, applicants should expect to demonstrate:

Physical visits to Cambodia over the preceding 5 years (though no continuous residency is required for the visa, some presence is expected for citizenship)
A valid work permit
Property or a company registered in Cambodia under the applicant's name
Treatment of Cambodia as a permanent residence destination
A clean criminal record in Cambodia
A passport valid for at least 12 months at the time of citizenship application

What the underlying nationality law requires

The 1996 Law on Nationality sets the baseline for naturalization. Under Article 8, the standard residence requirement for naturalization is seven years of continuous residence — not five. Separate routes exist for investors and for foreigners whose special contributions or abilities are formally recognised by the Royal Government. Based on the CM2H programme’s own citizenship page, the programme is presented under Article 23 rather than the standard investor route, while the post-Sub-Decree 225 legal interaction between CM2H and the updated nationality framework is still not fully transparent in public materials.

All naturalization applicants must demonstrate Khmer language proficiency (speaking, reading, and writing), knowledge of Cambodian history and culture, good moral conduct, and physical and mental fitness. The Khmer language and cultural knowledge requirement is the most significant practical barrier. Some practitioner sources indicate this may be assessed through a formal test. The CM2H programme itself does not require language proficiency for visa issuance or renewal — only for the eventual citizenship application.

The 2025 framework update and remaining uncertainty

In December 2025, the Royal Government of Cambodia issued Sub-Decree No. 225 implementing the Law on Nationality. This sub-decree introduced new investment thresholds (KHR 4 billion / ~USD 1 million for investment in priority sectors, KHR 12 billion / ~USD 3 million for donation), formalised dual citizenship recognition, and established new procedural requirements including a 45-working-day review period and an oath before the Supreme Court.

How Sub-Decree 225 interacts with the CM2H programme’s existing 5-year pathway has not been publicly clarified in full. Public CM2H materials present the programme under Article 23, while practitioner analysis of the December 2025 framework treats “special qualities or abilities” as a distinct naturalization category separate from the KHR 4 billion investment route. In practice, this means CM2H holders may be eligible to apply after five years, but the legal basis and approval pathway should still be treated as discretionary and subject to Ministry of Interior handling.

The citizenship decision rests with the Ministry of Interior (ក្រសួងមហាផ្ទៃ) and ultimately requires a Royal Decree from the King of Cambodia. "Eligible to apply" is not the same as a guaranteed outcome. The first cohort of CM2H holders will reach the 5-year mark around 2027 — no public data yet exists on how the citizenship process will unfold for CM2H applicants in practice.

Cambodia permits dual citizenship. Acquiring a Cambodian passport does not require renouncing your existing nationality.

What a Cambodian passport offers: For most CM2H applicants, the practical value is not global passport strength but Cambodia-specific rights and ASEAN member-state status, including the ability to hold Cambodian land directly as a citizen.

Practical Considerations and What to Watch For

The programme is young. CM2H launched in 2022 and does not yet have a long public track record. The first cohort of CM2H holders will reach citizenship eligibility around 2027. No public data is available on how many applicants have been approved, what the approval rate looks like, or how the citizenship process will unfold in practice for CM2H holders specifically. This is important context for anyone making a USD 100,000+ commitment.

Approved project quality varies. All approved projects are in Phnom Penh as of early 2026. Some projects are under construction and some are completed. Prospective investors should conduct their own due diligence on the specific development — construction timeline, developer track record, title deed status, occupancy rates, and rental yield projections — independent of what is presented by the CM2H programme or its agents. Some practitioner analysts have noted oversupply concerns in Phnom Penh's condominium market.

The KHCA structure is unusual. The programme operates through a charity association in partnership with the Ministry of Interior, not directly through the GDI. This model differs from most golden visa programmes globally, where the issuing government agency handles applications directly. The KHCA acts as an intermediary that collects membership fees, coordinates services, and manages approved projects. Whether this structure provides better applicant support or adds a layer of opacity depends on the specific agent and experience.

Use authorised agents only. The CM2H programme has generated interest from a range of intermediaries. The official programme is administered through the KHCA and My Second Home CM2H (Cambodia) Co., Ltd. Licensed immigration law firms such as Harvey Law Group operate as authorised agents. Do not engage with intermediaries who cannot demonstrate their official relationship with the programme.

Office and Regional Variation

The CM2H programme is administered centrally through Phnom Penh. The Ministry of Interior and GDI handle approvals from there. All currently approved projects are in Phnom Penh. Applicants based elsewhere in Cambodia or overseas work through authorised agents who coordinate with the Phnom Penh offices.

Frequently Asked Questions

How does CM2H compare to the ordinary E-type visa system?

The E-type system costs approximately USD 285–300 per year and requires annual renewal. It offers no property investment component, no defined citizenship pathway, and no bundled services. CM2H costs roughly USD 100,000 upfront but delivers a 10-year visa, property ownership, and eligibility to apply for citizenship. The two systems serve fundamentally different purposes — the E-type suits those who want affordable residency year by year; CM2H suits those making a capital commitment with a longer-term view. The E-type system is covered in detail in our Cambodia long-stay visa guide [internal link: `/cambodia/procedure/cambodia-long-stay-visa-options`].

Is there a minimum stay requirement?

No. The CM2H visa does not require holders to spend any minimum number of days in Cambodia to maintain the visa. However, the eventual citizenship application does expect some demonstrated presence in the country over the five-year period. The precise requirement for citizenship is not quantified as a specific day count — it is assessed as part of the naturalization review. See the citizenship section for the full legal context.

Can I include my family?

Yes, but the structure matters. Practitioner sources commonly describe two main options: dependent inclusion under the main applicant’s file, often cited at USD 5,000 per dependent, or a separate spouse membership often cited at USD 30,000 for independent status. Because these figures come from authorised-agent and practitioner materials rather than a clearly published official KHCA public fee table, confirm the current arrangement and pricing in writing before you proceed.

Is the property investment refundable?

The property is yours — you receive a title deed. It is a real estate purchase, not a deposit. Public materials reviewed do not clearly state resale conditions or the visa implications of disposing of the qualifying property. Whether a resale affects your visa status, and on what terms, should be confirmed with your agent or KHCA before relying on exit assumptions.

Do I need to speak Khmer to get the visa?

No. There are no language, education, or management experience requirements for the CM2H visa itself. The Khmer language requirement applies only to the citizenship application after five years.

How does CM2H compare to other long-stay programmes in the region?

Most ASEAN residency programmes — including Thailand's LTR Visa and Malaysia's MM2H — do not offer a defined citizenship pathway. CM2H is unusual in the region for explicitly marketing a property-linked long-stay programme with a stated route to citizenship, though with a less established programme track record. Each programme has different financial thresholds, income requirements, and residency conditions — a direct comparison depends on the applicant's specific priorities and financial profile.

What happens if the Ministry of Interior rejects my application?

If rejected during the verification phase, the initial USD 10,000 KHCA membership fee is refunded after deducting a USD 250 administrative fee. Later-stage rejections should be discussed with your agent regarding the specific refund arrangements for membership fees and any property deposits.

Key Sources

Cambodia My Second Home Official Programme — cm2h.com
General Department of Immigration (GDI) — immigration.gov.kh
Harvey Law Group, Cambodia CM2H Programme Guide
Sub-Decree No. 225 on Implementation of the Law on Nationality (1 December 2025) — Royal Government of Cambodia
Law on Nationality of Cambodia (1996), Articles 7–8, 10–12 — Kingdom of Cambodia