Retirement visa 2017 page 2 - Phnom Penh forum

Retirement visa 2017

0POSTS

7 years ago

From my research, short answer is no.

This is what it states on

Tax in Cambodia
Individuals resident in Cambodia are liable to Tax on Salary (ToS) on their Cambodian and foreign source income, at progressive rates ranging from 5% to 20%. An individual is considered a tax resident if he/she: is domiciled in Cambodia, or has a principal place of abode in Cambodia or has available for use a house, apartment, dormitory, in which he/she usually stays or occupies, or is present in Cambodia for more than 182 days in any period of 12 months ending in the current tax year.
A non-resident is any person who is not a resident. A non-resident is only liable to ToS on Cambodian-source income (at 20%).

An employer is liable to pay Fringe Benefit Tax (FBT) on benefits paid to employees that are not considered to be salary (at 20% of the value of the benefit).

There is no mechanism for individuals to register with the Tax Office and remit their salary tax or other tax liability directly to the Tax Office. At present, only registered employers have an obligation to withhold the tax on salary from the employees for their employment activities in Cambodia. Currently, Cambodia does not require individual residents to file an annual personal income tax to the Tax Office. As a result, the ToS withheld by the registered employer should be the final tax for each employee for fulfillment of employment activities in Cambodia.

On this basis, foreign pension income is not taxable income in Cambodia unless: it is provided to Cambodian residents by a Cambodian employer, or it is provided by a company which has established a Permanent Establishment or tax presence in Cambodia, and even then the company may need to be a registered taxpayer in Cambodia and carrying on business there, or it relates to fulfilling employment activities in Cambodia.
Therefore, based on an STM QROPS, the pension income would not be taxable income in Cambodia.

Net worth, gift, inheritance, and estate taxes are not imposed in Cambodia. Cambodia has no DTA鈥檚.

1 member reacted to this post

jimhill47 Member

3POSTS

7 years ago

#42

... what would be a typical local agent fee for a ER Visa 6/12 extension over 55 year ?

JoeKhmer Cambodia Expert

2177POSTS

7 years ago

#43

All in price for 6 months is about $165, for 12 months $290.

1 member reacted to this post

MealsDavis Active member

31POSTS

7 years ago

#44

Thanks from me too JoeKhmer. Your initial reply on this thread caused me to stop lurking and sign up.

I've all but given up on Thailand too. They want us to retire there less and less as the years go by.

My Thai wife and I will retire to Cambodia in 2.5 years. Looks like I'll get the E vis and the ER visa within 30 days - like this thread says.

I can't find much on my wife's situation though. The Cambodian government website seems to be down or I have old/broken links.
Does she get the same visa?
She has Thai and US citizenship.
I'll be over 55 years but she wont be.

Don't mean to hijack this thread...

JoeKhmer Cambodia Expert

2177POSTS

7 years ago

#45

Thanks for the compliment.

If you and your wife are officially registered as married she can get a "spouse" visa extension the same as your ER extension. For that she needs to apply for it as being supported by you.

You need a good agent who is familiar with this and knowledgeable. I know one if by that time you need one.

If you're not officially married she can still get a ER extension based on support by you, but it is more difficult to explain that to Immigration.

So depending on your marriage status it can be easy or difficult.

Hope this helps.

Joe

Mr4D Active member

33POSTS

7 years ago

#46

I'm currently in Poipet nearing the end of a 12 month retirement EOS.聽 To get a 12 month extension, the casino that I play at here has quoted me $400.聽 Has the cost of visas gone up, or is the casino just adding a big fee?聽 To get the extension my passport would need to be sent to Phnom Penh.

I'm one of 4 barangs here in Poipet, and I know the others, so I'm not expecting anyone here to know much about getting a visa extension (retirement) in Poipet.聽 But hey...make my day!!!

JoeKhmer Cambodia Expert

2177POSTS

7 years ago

#47

It's a scam!

Normal price is around $285.

Cheers

Joe
Cambodia expert
大咖福利影院 team

2 members reacted to this post

GeorgeHI Member

3POSTS

7 years ago

#48

Just started reading posts re: RE visa. I initially look at retirement visa in Thailand, but recent changes has made rethink it.聽 Looking at Cambodia RE visa there are references on showing proof of monthly (retirement) income, but no mention on the amount of income is required.

JoeKhmer Cambodia Expert

2177POSTS

7 years ago

#49

Hello.

From age 55 there is no need to prove your retirement status or income.
In some cases a letter is provided by the agent stating that you want to retire in Cambodia and you don't intent to work. You only need to sign and thumb print it.

If you want to retire under the age of 55 you have to convince the Immigration Department that you are retired and have monthly income from abroad. Needed is a letter from your country's pension institute stating that you are retired plus proof of income although that is not always asked (but they could ask you when they check you at a home visit).
There is no amount of income set (yet) so it's more like you convince the IO that you are financially independent

Hope this helps, take a good agent who knows the ins and outs.

Joe
Cambodia expert
大咖福利影院 team

1 member reacted to this post

numpty11 New member

4POSTS

7 years ago

#50

Hi Joe,

Great info. Hope you can help me here.

After 15yrs in Thailand it's time to retire. I have $150k in a well-known brokerage account paying $1k/month in dividends.

I intend to live on those dividends. I'm 46. A UK citizen.

I've emailed a few visa agents in PP and they've all said it's enough coin.聽 Awesome!

However, they also mentioned "a letter from your country's pension institute" but failed to explain what/where/who this institute is??

Does the UK even have a 'pension institute'?

Could you please advise.

Best wishes
Escaped Brit

Ackshon Member

19POSTS

7 years ago

#51

numpty11 wrote:
After 15yrs in Thailand it's time to retire. I have $150k in a well-known brokerage account paying $1k/month in dividends.

I intend to live on those dividends. I'm 46. A UK citizen.

Best wishes
Escaped Brit

Hi Numpty,

I can't help you with your question as I'm Australian & still living here, in the process of selling my house so I can move over to Cambodia to retire.

Once I sell the house I will be looking at investing the proceeds to derive a monthly income such as you, & would love to know what well known brokerage account you are using

Cheers

numpty11 New member

4POSTS

7 years ago

#52

Saxo and Schwab out of Singapore. I've got two. Overkill.

Further to my last post, a PP visa agent informed me that I'll require:

1. Brokerage statement.

2. A letter from a foreign company confirming I have retired.

#1 is easy. #2 may involve some creativity.

No mention of 'pension institutes' this time. Gotta love the consistency.

I guess I'll get one of my old jobs to write something to the effect that I worked there and have now "retired".

Kurterino Serial expat

489POSTS

7 years ago

#53

If you read JoeKhmer鈥檚 first post in this thread, there鈥檚 ample information about this. If you are officially retired in the UK (for example for reason of disability, or if you鈥檝e reached the age of retirement), I鈥檓 sure you can get a letter from Social Services (or whatever it鈥檚 called in the UK), stating that you鈥檙e retired. From your description, you鈥檙e not officially retiring, eg your plan is to live off your savings/investments until retirement, so I鈥檓 not sure if you can get that document. You could probably get a business visa instead, I heard it鈥檚 about the same price and quite easy to get, but I don鈥檛 know the requirements for that.

numpty11 New member

4POSTS

7 years ago

#54

Thanks for that.

I'll visit PP (again - always fun) during one of my breaks and see an agent face to face.

Then I'll be able to map a way forward.

I guess an EB extension would allow me to do some part time teaching or something.

However, I'd prefer ER. (Don't really want to do anything other than be retired).

Worst case scenario is the 6 month EG extension. Gives me time to get my shit in one sock.

Cheers

Kurterino Serial expat

489POSTS

7 years ago

#55

I鈥檓 not sure if you鈥檒l actually have to be doing business just because you have a business visa. I guess a good agent should know what kind of checks are in place (taxes and such).

JoeKhmer Cambodia Expert

2177POSTS

7 years ago

#56

numpty11 wrote:
Hi Joe,

Great info. Hope you can help me here.

After 15yrs in Thailand it's time to retire. I have $150k in a well-known brokerage account paying $1k/month in dividends.

I intend to live on those dividends. I'm 46. A UK citizen.

I've emailed a few visa agents in PP and they've all said it's enough coin.聽 Awesome!

However, they also mentioned "a letter from your country's pension institute" but failed to explain what/where/who this institute is??

Does the UK even have a 'pension institute'?

Could you please advise.

Best wishes
Escaped Brit

Hi.

Get yourself a good agent, write with help of the agent a letter stating that you are retired, don't want to work and live of funds from abroad. Sign and thumb print.

That's all.

Cheers

Joe

numpty11 New member

4POSTS

7 years ago

#57

Hey Joe,

Thanks for that. FYI I've been communicating with an agent called Kim. She's been very helpful and it looks like we've mapped a way forward. Basically, we've done what you've just said. So all's good.

Best wishes
Escaped Brit

JoeKhmer Cambodia Expert

2177POSTS

7 years ago

#58

She is the one I use and recommend聽聽

asam12 Member

2POSTS

2 years ago

#59

@JoeKhmer

Is this still the case, when you are above 55 no documentation to prove funds or letter of retirement is required?

Also if coming as a family, one spouse is over 55 and the other is 50, the one below 50 still needs to prove funds and being retired? Thanks.

JoeKhmer Cambodia Expert

2177POSTS

2 years ago

#60

@asam12

Yes still the same. 55 or over no documents required, under 55 proof of retirement and incoming funds required.

Joe

asam12 Member

2POSTS

2 years ago

#61

@JoeKhmer Thank you very much sir. Can you also please clarify the spousal scenario above?

JoeKhmer Cambodia Expert

2177POSTS

2 years ago

#62

@asam12

I will after you explain the existence of 3 spouses. One is 55, one is 50 and one is younger than 50.

I have no idea what this means so I cannot answer right now.

1 member reacted to this post

houndofhell666 Member

2POSTS

2 years ago

#63

I've been to SSA many times to get an award level with proof of income.聽 I'm just wondering exactly what document to ask for that shows I am receiving disability from them since I am 51.聽 What other documentation would I need as well?