Logo of Phnom Penh Post newspaper Phnom Penh Post - Legal firm to help elite gain dual citizenship

Legal firm to help elite gain dual citizenship

Legal firm to help elite gain dual citizenship

A new international law firm is preparing to set up shop to provide foreign citizenship or residency services to Cambodia’s wealthy elite by helping to facilitate large overseas investments as well as business expansion plans.

Harvey Law Group (HLG), an international law firm that started in Canada in the early 1990s, announced yesterday that it was looking to set up an office in Cambodia to provide legal guidance for the country’s wealthiest citizens that are looking to obtain a second citizenship.

Guillaume Matz, senior associate at HLG, said that countries around the world offer citizenship through large-scale investment schemes.

“All countries worldwide have set up streams in order for you to invest for immigration, [but] the type of investment varies according to the country of destination,” he said. “We help Southeast Asian people to set up abroad, to relocate their business, to find new options on a worldwide scale, and to send their kids to others countries for education purposes through investments.”

Matz noted that for Southeast Asia, the primary destinations for citizenships through investments are Canada, Australia and the US. The specifics of how the investment needs to be made and whether it requires an active or passive participation from the investor vary for each destination, he explained, but individuals can expect to pay $500,000 dollars to obtain citizenship in the US, $230,000 in Canada and over $1 million for Australia.

“These investments are going to lead you to one specific aspect,” he said. “You are going to have the right to live, without any terms, in one country or you are going to have the right to become a citizen of one country, which means you will have the right to have a passport from that country.”

Bastien Trelcat, managing partner of HLG, said that the next challenge for the company was to make their services known to high-profile Cambodian individuals, most of whom are unaware of these types of investment perks.

“Most Cambodian high net worth individuals don’t know what we do, or don’t know that this programme exists, so I would say our highest challenge is actually to educate the market about what is there for them,” he said.

“Roughly, we are talking about a couple of thousand people who can afford these types of investments.”

The target market for the law firm’s clients in Cambodia is individuals with a net worth of $3 million to $5 million, he added.

MOST VIEWED

  • Prince Norodom Ranariddh passes away at 77

    Prince Norodom Ranariddh, the second son of the late King Father Norodom Sihanouk and former First Prime Minister of Cambodia, has passed away in France at the age of 77. “Samdech Krom Preah Norodom Ranariddh has passed away this morning in France just after 9am Paris-time,”

  • General’s gun smuggling ring busted

    The Military Police sent six military officers to court on November 22 to face prosecution for possession of 105 illegal rifles and arms smuggling, while investigators say they are still hunting down additional accomplices. Sao Sokha, deputy commander of the Royal Cambodian Armed Forces and commander of

  • Rise in planned flights lifts travel hopes

    Six airlines have applied to resume flights in December, while two others have put in for additional flights and routes, according to State Secretariat of Civil Aviation (SSCA) head Mao Havannall on November 29. These account for 43 new weekly domestic and international flights in December, up 16

  • Cambodia, Thailand to discuss border reopening

    Cambodian authorities from provinces along the Cambodia-Thailand border will meet with Thai counterparts to discuss reopening border checkpoints to facilitate travel, transfer of products and cross-border trade between the two countries. Banteay Meanchey provincial deputy governor Ly Sary said on November 22 that the provincial administration

  • More Cambodians studying in US

    The number of Cambodian students studying at US colleges and universities in 2020-21 increased by 14.3 per cent over the previous year despite the Covid-19 pandemic, according to a recent US government report. The 2021 Open Doors report on International Educational Exchange showed that 848 Cambodian students studied

  • Hun Sen: Manet to be candidate for prime minister

    Prime Minister Hun Sen has reaffirmed that his oldest son Hun Manet will be his successor as Prime Minister if he is elected. Speaking during the inauguration of a new sewage treatment facility in Preah Sihanouk province on December 2, Hun Sen said Manet will be