Cambodia banks

[cryptofriendly]

Thank you.
If anyone needs more hand holding, I can help.

You don't need‍ to charge every 2 weeks.
You can just charge $2 many times on the same⁠ day, and it adds up the total validity of the SIM.
I am good until⁤ January 2025 with my SIM now.

Yeah, Smart is good for that, so you can keep your number with low cost. There︅ were 'superlong' plans before, can't find them anymore.
I have cellcard myself, and through all︆ that data charging for using internet, my SIM validity is already extended until 2025.

 

[csp dubai]

is this a forum for people who wants to save 2 euro a mounth? the‌ quality is really going down soon is losers offshore club if you not have 1‍ m usd in bank account not even touch offshore is too expensive for you

cambodia seems interesting any way , do the banks offer multicurrency accounts and some kind of⁠ private banking option?

 

[daniels27]

I don't think so. They are just many people coming⁤ once with an idea that never works and we waste time on them.

For your⁣ question, I think there are many here with 20+ SIM cards and an even higher⁢ number of bank accounts. Managing am those gets tiring when they require their attention not︀ than once per year.

Yes and which ones you recommend?

 

[cryptofriendly]

Yeah, you can open an account⁣ in USD/EURO/KHR. Maybe SGD too, haven't attempted it myself.
Private banking is available, starts from⁢ around 500,000 USD total deposit. Cambodia is used to Chinese money, no cheap private banking︀ like in Georgia.
But, if you smile to the bank teller girl and ask, she︁ will give you her telegram contact, which might be useful for that.

 

[JohnLocke]

What are the requirements to open a business bank⁠ account in an Cambodian bank ?

 

[cryptofriendly]

It's not as straightforward as a personal account. From ABA‍ Bank's website:

To open a corporate account, you need to provide the following documents:

• Original and latest Memorandum and Articles of Association (M&A) signed by all directors of the Company.⁠
  
• Certificate of Commercial Registration / Incorporation issued by Ministry of Commerce or a printed version⁤ of Certificate of Registration with QR code.
  
• Original Board of Directors Resolution to appoint signatory(ies)⁣ and account mandate.
  
• Original and valid National ID or Passport of all Shareholders and Directors.⁢
  
• Original and valid National ID or Passport of all Authorized Signatory(ies).
  
• Business Tax Patent (if︀ applicable).
  
• Business License issued by relevant ministry and/or authority (if applicable).
  
• Letter of Approval from︁ relevant ministry or authority (if applicable).
  
• Sample of Board of Director Resolution (please use company’s︂ letterhead and incorporate the content in the sample Board of Director Resolution where applicable).
  

And, fill in the following forms:

• Corporate Account Form (Section 5 refers to FATCA Status Code︃);
  
• UBO Declaration Form;
  
• Sample of Customer Information Form (simple) for UBO(s) (shareholder(s) with︄ 20% or more) and director(s) who are not appointed as signatory(ies);
  
• Specimen Signature Form and︅ Customer Information Form(s) to be signed by Authorized Signatory(ies) in front of a Bank staff.︆
  

Additional requirements:

• Company seal to be appended on Board of Director Resolution and other relevant︇ documents (where applicable).
  
• Customer is required to disclose Tax Registration number (TRN) or Tax Identification︈ number (TIN) where applicable.
  
• Authorized Signatory(ies) is/are required to be present at the Bank or︉ in front of a Bank staff.
  

Note
- Account for Financial Institutions: Requirements may differ,︊ please contact our branch for more information.
- In addition to the required documents for︋ account opening above, customers shall also comply with the Bank's onboarding policies and processes before︌ the account opening.

 

[JohnLocke]

Thank you very much for this detailed information from this bank and it's requirements. I‌ will do some more research.

 

[padres123]

Yes, the offer can be found on‍ Twitter (X). Costs $ 1150 and is therefore very interesting. I don't know if everything⁠ is right, but some on X are satisfied. You can pay with XMR and LTC⁤ (Mweb).
Let me know if you bought it and are satisfied ... Thanks

 

[Piano]

What is the minimum time you need to spend in cambodja to get︆ a bank account ?

 

[Clank]

One day.

 

[Piano]

Why we are talking then about VISA of‌ 6 months ?

 

[TheCryptoAnt]

because you dont know how to read

 

[Piano]

You write the‌ following :”
You can get away with a 6 month visa extension ($160 + $25‍ for them to create documentation if you haven't any), and NO workpermit at most banks.⁠
You can get a 6 months extension with no WP, to apply for 1 year⁤ you need WP.
ABA. Acleda, CAB, etc. all require just 6 month visa extension, some⁣ may as for a rental contract >6 months.
Sounds complicated..”

One day to get a⁢ bank account , you say
The same day you will able to get a VISA︀ for 6 months to be able to apply for a bank account ?

Sounds confusing..︁😉

 

[daniels27]

I think you need minimum a week as you need to apply for the visa‌ extension first.

 

[Freetrade]

This looks ok for a crypto debit card option.

How much info does Cambodia share?︆ I see they are non-CRS but they are listed on https://web-archive.oecd.org/tax/transparency/index.htm

 

[BarleyMalt]

@cryptofriendly Do you know alternatives to Binance p2p for cashing out crypto to a cambodian‌ account?

 

[cuno]

I have no idea how banking in Cambodia works, but can you make regular SWIFT‌ transfers to a bank account in Cambodia, or how does it work?

 

[daniels27]

Yes, you can. They behave pretty much like banks. With SWIFT and the‍ like.

 

[cryptofriendly]

You could use RGX, the official licensed and approved‍ exchange in Cambodia, run by Royal Group.

Mind you, I have never tried it, and⁠ I don't know about P2P or fiat withdrawals on that platform,
I don't believe that's⁤ secure enough (non-hackable) for daily use.

Since RGX appeared, most of crypto exchanges are actutally⁣ being blocked now (though the block is only dns server based, and easy to circumvent),⁢ as RGX is the only one licensed.
https://asia.nikkei.com/Spotlight/C...-blocks-access-to-16-crypto-exchange-websites

There were two more independent exchanges for︀ btc<->fiat exchanges, but I can't find them now, one was run by Ly Hour, the︁ other one by some Russian.

You can still do USDT 2 cash at many moneychangers︂ in PP, I guess that they'd transfer it directly to your account as well if︃ you show them your banking qr code. Localbitcoins & co. don't have many active members︄ in KH.

 

[padres123]

• Bisq client () [NO KYC] ← Fully decentralized and‍ non-custodial. Uses Tor, automatically. L-BTC / Blockstream’s Liquid Network ( https://help.blockstream.com/hc/en-us/articles/900000633526-Where-can-I-get-a-Liquid-wallet-) is a supported⁠ payment method. Guide
  
• RoboSats (, ⚡ only) [NO KYC] ← Non-custodial. Requires Tor browser.⁤ @robosatsOB OrderBook. Guide
  
• HodlHodl () [NO KYC] ← Supported payment methods include Lightning⁣ network (⚡) as well as Liquid Network ( https://help.blockstream.com/hc/en-us/articles/900000633526-Where-can-I-get-a-Liquid-wallet-) (BTC, Tether, CAD).
  
• LocalSats () [NO KYC] ← Buy and Sell Bitcoin in-person
  
• LocalCoinSwap () [NO KYC] ← Non-custodial
  
• P2PCoins.io () [NO KYC] ← Non-custodial
  
• Bitcoin.Global ()[NO KYC]
  
• Remitano [NO KYC for Seller (only Buyer must KYC)]
  

Altcoin-only P2P Trading⁢ exchanges​

• Haveno DEX client () [NO KYC]← Fully decentralized and non-custodial. Uses︀ Tor, automatically. FAQ
  
• ByBit P2P ← USDT only, initially. Not available in the U.S.
  
• Benkiko ← USDB only, initially
  
• Timbuktu [NO KYC (for offer taker)]
  
• Ethfinex Trustless OTC
  
• Hubi
  
• KuCoin OTC
  
• Whales Heaven ← Requires a browser extension
  

And for cash you can use︁ :

https://coinatmradar.com/