Phnom Penh, Cambodia

Famously known to many as the “Pearl of Asia” Phnom Penh is the capital city of the Kingdom of Cambodia and is the country’s largest city.

It’s both a modern metropolis bursting with glittering skyscrapers and international shopping centres as well as a hub of history and culture thanks to its iconic mixture of ancient landmarks, French colonial buildings and leafy boulevards, local markets, pagodas and palaces.

This is a city which stands tall as one of Southeast Asia’s up-and-coming tourist hotspots with as many as 3 million foreign visitors arriving at Phnom Penh International Airport each year.

The capital city is not only popular with travellers but is also a growing draw for expats of virtually every nation around the world. Some are attracted by the thriving economy and business opportunities due to massive increases in foreign investment and the seemingly never-ending entry of world famous companies ranging from Microsoft to Rolls-Royce.

But while the skyline continues to soar with multi-million-dollar condominiums, international business and shopping centres galore, Phnom Penh remains a place where expats can live on almost any budget.

Property rentals are incredibly reasonable and eating out at great restaurants is within the reach of even those on limited incomes who can expect an all-round lifestyle upgrade on account of the amazingly affordable cost of living.

Retire in Phnom Penh

Retiring in Phnom Penh has never been easier now that Cambodia has launched a dedicated Retirement Visa for pensioners aged 55 or over.

No financial requirements are currently included so most Westerners can simply get on a plane and just fill out a visa-on-arrival at airport immigration, provide two passport photos and pay a fee of US$35 (around $44).

This will get you a one month “ordinary” visa upon arrival at the airport which can then be extended for up to one year at a time with unlimited multiple entries.

All you need to do is select one of over a hundred travel agencies in Phnom Penh who will take care of all the paperwork and process it for you at a cost of around US$285 (around $355). It couldn’t be any simpler or easy to officially retire in Phnom Penh.

Since English is the most popular second language spoken in Phnom Penh you don’t have to worry about learning the Khmer language right away since Cambodians, especially the young generations, speak fluently enough that you can get all the essentials set up pretty easily when you arrive.

Opening an account at a regional or international bank normally only requires you present your passport and a valid visa, plus a residential address. ATMs can be found all over Phnom Penh and making international transfers to and from Cambodia are no more complicated than any other country.

Getting a SIM card from one of the top three telecom networks is even easier. All you have to do is show your passport and for the princely sum of US$1 (around $1.25) can receive a SIM card with one week of unlimited phone calls and SMSs plus an amazingly generous 20GB of 4G LTE mobile internet data.

With your visa, bank account, phone number and mobile internet your retirement adventure in Phnom Penh will now be ready to move to the next level.

Lifestyle in Phnom Penh

One of the joys of being an expat, especially a retiree, in Phnom Penh is that you have complete freedom to enjoy whatever lifestyle you wish.

There are an abundance of excellent local coffee shops as well as international franchises like Starbucks where you many people choose to kick off their morning with coffee, French pastries and free WiFi.

For those who are more partial to fine dining there are a large number of excellent French, Italian, Japanese, Chinese and Khmer restaurants which offer very high-quality menus at very reasonable prices. A dinner for two at one of the best restaurants in the city might set you back less than US$50 (around $62) including a bottle of wine and a generous tip.

When it comes to shopping some expats prefer to head to traditional Khmer markets like Psah BKK or Central Market for fresh produce. Others are more inclined to go to one of the city’s modern shopping centres like the popular Aeon Mall which has hundreds of retail outlets, a Western-style supermarket, a Hollywood cinema and even an ice skating rink.

There are a variety of places to socialise and network including AusCham and Rotary although having a drink at the city’s numerous wine bars and expat pubs remain the most popular way to meet up and chat with fellow foreign residents.

Plenty of expats like to stay fit and healthy by getting a gym membership at one of the prominent establishments such as The Place or the Hotel Cambodiana which includes access to their tennis courts and swimming pool for US$600 (around $750) per year. Golf is very popular with expats on a budget as there are several world-class golf courses in Phnom Penh with green fees ranging from US$20 (around $25) for a nine-hole course or up to US$75 (around $94) at the highest end 18-hole golf course.

And after a hard workout there is nothing better to do than visit one of the city’s professional health spas which have all manner of saunas, steam rooms, and masseuse therapists to tend to your body.

If your body’s fine but you feel in need of some spiritual healing then there a number of free Buddhist meditation classes held at places like Wat Langka throughout the week.

Phnom Penh is truly a city full of fun and adventure for a very, very reasonable price. So…what are you waiting for?

Phnom Penh Cost of Living

The total cost of living for a single person living in one of the nicest neighbourhoods in Phnom Penh and without scrimping on the basics is about $1,500 a month. A couple could spend around $2,000.

Here’s a summary of what a single expat in Phnom Penh could spend on a monthly basis: