Hold Trust Property
We act as legal representatives for foreigners to make real estate purchases in Cambodia with a peace of mind.
Our responsibility is to hold ownership on your behalf for the purpose of commercial, social and personal trust, managing the property trust in accordance with a Trust Deed or agreement.
Business FlowHolding Property Process
1. Trusteeship Consulting
Our trustee advisor will provide:
- A company brochure.
- Information on service procedures.
- Fee quotation.
2. Pre-trusteeship Service
(5 Working Days)
- Arrange Property/legal due diligence with third party.
- The land verification report must be recommended by the third party.
- A negative required means stopping the process, and a positive report means we can go ahead with the next step.
- Sign off on application form.
3. Proceed with Trust
(3-5 Working Days)
We will:
- Discuss land price and payment phases with both the seller and buyer.
- Consult a lawyer.
- Create Sales and Purchase Agreement (SPA).
- Agree on payment conditions, and
- Sign SPA on behalf of the trustor(s) for trust service arrangement.
4. Enter Trust Agreement
(5 Working Days)
A trust deed is entered by the customer and Phillip Trustee to establish a trust on immovable property or fund.
- The Customer is required to make a fund transfer to Phillip Trustee’s bank account under Phillip Bank.
- 10% of the service fees to be paid will be deducted.
5. Purchase of Property
(1 Month)
The land title will be transferred under Phillip Trustee Company’s name, on the date stated as per the agreement.
Before the purchase:
Before the purchase:
- The hard title should be prepared for the buyer.
- Phillip Trustee will make the deposit/payment(s) using the trust fund, in accordance with the SPA.
6. Transfer of Ownership
(2 - 3 Month)
The property transfer process involves: Application > Transfer/Registration of titles with Cadastral Office > Duty stamp tax > Completion of process with Cadastral office > Confirmation with Trustor.
- Tariff fees/out-of-pocket fees (land checking, lawyer service fees, trust registration fees) should be paid.
- The final 90% of service fees are deducted.
7. Trust Registration with Regulator
The trust should be registered with the
Trust Regulator (TR) within 3 months after
the date of establishment in order to be
valid.
Trustee Service Transfer Process
Pre-engagement
(between trustor and land-holding company)
Our trustee advisor will
provide:
- The pre-engagement application form is signed by both the trustor and the land-holding company.
- Legal due diligence is carried out 50% of the trustor’s fund is deducted.
Transfer of Land Ownership
(from land-holding company to trustee)
The completion of two forms are needed:
- The Sales and Purchase Agreement (SPA) from the Ministry of Land Management, Urban Planning and Construction.
- The request for ownership transfer form from the Ministry of Land Management, Urban Planning and Construction.
Important notes:
Seller refers to the land-
holding company.
- Buyer refers to the trustee company (on behalf of trustor).
- Trustor will be liable to a duty tax stamp of 4%.
Enter Trust Agreement and Proceed With Trust
(3-5 Working Days)
Both parties enter a trust agreement to establish a trust fund.
- The customer is required to transfer the fund to the trust fund under Phillip Trustee’s company bank account, Phillip Bank.
- The land title under the trustee company name should be transferred on the date stated on the agreement.
Both parties proceed with
the trust:
- They agree on terms of payment.
- The final 50% of trustor’s fund is deducted.
Trust Registration
The trust should be registered
with the Trust Regulator (TR)
within 3 months after the date
of establishment in order to be
valid.
