With Cambodia’s tourism on the rise, thanks to an increase in direct flights to the Kingdom, the country is becoming an increasingly attractive destination not only for travelers but also for retirees looking for a new home abroad. Cambodia has earned a reputation as a pleasant and affordable place for seniors to enjoy their golden years. This guide will cover the essentials for aspiring expats considering retirement in Cambodia, including visa options, currency and banking, healthcare, cost of living, transportation, and the best places to live.
Retirement Visa
Cambodia offers a straightforward visa process for retirees through its ER visa program, designed for foreign citizens aged only 55 and over. This visa can be extended for up to 12 months, making it an appealing option for those looking to settle long-term in the Kingdom.
To obtain a retirement visa, you first need to apply for a regular E-class visa, which can be done through a Cambodian Embassy or Consulate in your home country or online. Once you arrive in Cambodia, you will need to convert this into an ER retirement visa through a local visa agency, which will assist with the application process.
The following documents are required for the ER visa application:
- A passport with at least six months of validity
- A blank passport page for the visa
- A passport-sized photo
Unlike information posted on other websites, there is no need for prove of any pension or retirement scheme. Since it is absolutely forbidden for you to get a paid job in the Kingdom, you will have some kind of financial resources. So it does not matter if you collect rent from your hometown or if your children are financing your stay here, the immigration department will not ask.
As of the most recent updates, the cost for the ER visa is around $300 for one year. The visa can be renewed or extended for periods of 1, 3, 6, or 12 months, depending on your plans, and as of today, the visa can be extended an infinite number of times.
Currency & Banking
Cambodia operates with a dual currency system, using both the Cambodian riel (KHR) and the US dollar (USD). While US notes are widely accepted for most transactions, the National Bank of Cambodia is pushing to de-dollarise smaller purchase, as such the small dollar notes (1, 5 and 10’s) are slowly, but surely being scarce. List of all the banks in 2024. Also, note that Cambodia is very modern in terms of banking and payment facilities; since 2020, everyone pays with their mobile phone. Every bank in the country offer the payment app, using the KHor a dynamic QRcode payment system. So, most of the time you won’t have much cash to carry, all you need is your smart phone.
When it comes to banking, major institutions like ABA Bank, Canadia Bank, and ACLEDA Bank are popular choices among expats. You can open accounts in either riel or dollars, depending on your preference. Retirees can also transfer their pension funds to any local bank, which can be easily done through various international money transfer services available in Phnom Penh, including Western Union and MoneyGram.
Healthcare
Access to quality healthcare is a crucial consideration for retirees. Cambodia’s healthcare system has improved significantly over the past decade, with a growing number of private clinics and continuous development in the public sector.
Leading hospitals in Phnom Penh include the Royal Phnom Penh Hospital, Calmette Hospital, and specialized clinics like Intercare and Advance European Medicare Center. Dental care is also affordable and of good quality, with prices for basic services starting from $30. Pharmacies are plentiful and offer a wide range of affordable medications, notably U-care.
Many retirees opt to purchase health insurance that covers medical treatment both in Cambodia and abroad. It’s wise to research healthcare options thoroughly and consider including medical expenses in your retirement budget.
Where to Live
Cambodia offers diverse living environments to suit different preferences. For those who enjoy city life, Phnom Penh is the bustling capital where most economic activities take place. The city is rapidly developing, with new shopping malls, high-rise buildings, and modern amenities. Renting in Phnom Penh can range from $200 for a basic studio to $700 or more for a modern apartment in prime areas like BKK1 or Tonle Bassac. Apartments under $300
For a more relaxed lifestyle, Siem Reap is a favored destination, especially for its proximity to the world-renowned Angkor Wat temple complex. Known for its expat community and vibrant entertainment scene, Siem Reap offers a jungle-like environment with quality accommodations available at reasonable prices.
Other popular retirement spots include Sihanoukville, Kampot, and Kep. Sihanoukville has seen substantial development, offering beachside living and easy access to the islands of Koh Rong and Koh Rong Sanloem. Kampot and Kep are known for their slow-paced lifestyle, attracting retirees who prefer a peaceful countryside setting.
Transportation
Transportation in Cambodia is affordable and varied, with options including tuk-tuks, motorbikes, buses, and even trains. Tuk-tuks are commonly used for short city trips, while motorbikes are popular for longer journeys. Buses are available for intercity travel, though it’s important to be mindful of road safety, which may not meet Western standards.
Cost of Living
One of the key advantages of retiring in Cambodia is its low cost of living. Housing, utilities, transportation, food, and entertainment are generally much more affordable than in many Western countries. Living costs vary depending on your location and lifestyle, with Phnom Penh being slightly more expensive than other areas.
Here’s a rough estimate of average monthly expenses in Phnom Penh:
- Housing: $200-$700. You can live like a Cambodian in the center of the city, in an older building, or choose one of those modern condominium. Note that the large luxurious condo could charge up to $3,000 per month the high end of their catalog
- Utilities: $50-$100. This will depend on your consumption of Air Conditioning. Most expat will use it in evening before bedtime. But should you want ot need AC all day long, best to move in a condo.
- Food: $150-$1,500. If you can eat local food everyday, then your budget will be around $150, but should you want to keep your western eating habits, imported products will jack up your budget quite rapidly. Phnom Penh enjoys a very wide spectrum in terms of dining out: from the local family restaurant near your house to the luxurious sky high French restaurant. As you would expect, the price difference is considerable.
- Transportation: $50-$100. Yes, quick transportation within the city area is quite affordable. Each ride will start at about a dollar up to 2 or 3 dollars, depending on the distance. You can negotiate yourself with the driver, or simply use any taxi app to order and pay for your ride. Traveling within Cambodia, a bus ticket will be about $8 and a private taxi around 80$ for the most common destinations
Conclusion
Retiring in Cambodia offers a unique opportunity to enjoy a high quality of life at an affordable cost. With the ease of obtaining a retirement visa, access to healthcare, a variety of living environments, and a low cost of living, it’s no wonder that Cambodia is becoming a popular choice for retirees from around the world.
