You do not need a Cambodian bank account to buy property in Cambodia—having one is not a legal requirement for foreign buyers. Many expatriates and international investors purchase homes or investment properties using their overseas accounts, and funds can often be transferred directly to developers or managed through a lawyer’s trust account.
However, opening a local bank account is highly recommended because:
- It simplifies transferring funds and reduces high ATM and currency conversion fees that come with using foreign accounts.
- If you plan to receive rental income from tenants, a local account will save substantially on transfer and transaction costs.
- Bank apps make it easier to manage your property-related payments locally or while abroad.
- It enhances security when transferring large sums compared to cash or informal arrangements.
Setting up a local bank account is a straightforward process and can be done with your passport and proof of address. Local banks like ABA are popular with foreigners. While it’s not mandatory, it offers clear financial and logistical advantages for property investors and owners in Cambodia. You can also read our article: The Best Guide to ABA Bank Cambodia for Foreigners
