How to pay for an apartment in Cambodia from abroad

Prepared by the NovAsia Editorial Team

An apartment in Cambodia is normally paid for by bank transfer to the official account of the developer or seller named in the Sale and Purchase Agreement and invoice. For Russian citizens, the Bank of Russia removed the previous quantitative limits on outbound transfers from 8 December 2025. That does not mean every Russian bank can send US dollars to every Cambodian bank.

The main challenge in 2026 is the specific payment chain: whether the sending bank supports the destination and currency, whether a correspondent bank is available, whether the recipient bank accepts the transaction after KYC review and whether the contractual recipient matches the bank account.

The route should be confirmed before any non-refundable reservation fee is paid. The buyer should know in advance which account will be used, who will receive the money, which documents the banks may request and how much must arrive after all charges.

What changed for transfers from Russia

The Bank of Russia announced that, from 8 December 2025, the earlier limits on outbound foreign-currency transfers by Russian citizens and individuals from friendly jurisdictions would be removed.

As of 1 June 2026, the regulator's official guidance also stated that resident individuals could make cross-border transfers without a quantitative cap imposed by the Bank of Russia.

This does not remove:

• sanctions affecting individual banks;
• a bank's internal risk policy;
• the absence of a US-dollar correspondent;
• source-of-funds checks;
• correspondent-bank screening;
• Cambodian bank compliance;
• the requirements of the SPA and invoice.

It is therefore inaccurate to say that transfers from Russia are universally prohibited. A lawful payment may be possible, but the route depends on the bank, currency and recipient on the date of payment.

Main payment routes

The clearest structure is a transfer from the buyer's own account directly to the legal entity selling the property. Every additional intermediary or mismatch in names increases the chance of delay.

Direct payment from a Russian bank

Before signing the SPA, give the bank the draft recipient details and ask:

• whether an individual may transfer funds to Cambodia;
• whether the bank sends USD or only other currencies;
• whether the named Cambodian bank is supported;
• whether an intermediary bank is required;
• which documents must be submitted;
• how long compliance review normally takes;
• how fees are calculated;
• whether OUR charges are available;
• what happens if the payment is returned.

Do not ask only whether the bank “has SWIFT”. A bank may send international payments yet be unable to process the chosen currency, recipient or correspondent route.

For a large instalment, a written response from the international-payments or compliance department is more reliable than a general answer from customer support.

Payment from the buyer's own foreign account

An account in another country may offer a shorter route, but it does not eliminate compliance.

The foreign bank may request:

• the SPA;
• the invoice;
• source-of-funds documents;
• tax residence information;
• an explanation of the transaction;
• evidence of the buyer's connection with Russia;
• proof that the recipient is the contractual seller.

A Russian currency resident may also have notification or reporting obligations in relation to a foreign account. These obligations depend on residence status, time spent abroad, the country of the bank and the account activity.

The buyer should check the applicable rules rather than rely on citizenship alone.

Third-party payment

Sometimes a spouse, relative or company pays on behalf of the buyer. This should never be done without advance approval.

The transaction may require:

• written seller consent;
• a clause in the SPA or a signed addendum;
• identification of the payer;
• evidence of the relationship with the buyer;
• source-of-funds documentation;
• approval from both banks;
• confirmation of the exact unit and invoice being paid.

If Anna is the buyer but the money arrives from an unrelated foreign company with no explanation, the bank or developer's accounting department may refuse to credit it to the transaction.

A third-party payment letter should identify the SPA, invoice, project, unit and legal basis for the payment.

Bank details to verify

Before every transfer, check:

• recipient's full legal name;
• corporate registration name;
• account number;
• bank name and address;
• SWIFT/BIC;
• intermediary bank, if required;
• account currency;
• payment reference;
• SPA or invoice number;
• buyer's full name;
• project and unit number.

Cambodian banks generally use account numbers and SWIFT/BIC rather than European IBANs.

The details should come from the SPA, an official invoice or a signed letter from the company. A screenshot from a messaging app is not enough.

Protecting against substituted bank details

Invoice manipulation and business-email compromise are major risks in remote property purchases.

A safer process is:

1. Obtain the bank details in an official document.
2. Compare the recipient with the seller named in the SPA.
3. Confirm the details using a telephone number or contact already known to be genuine.
4. Do not use contact information contained only in the unexpected message changing the account.
5. Verify every change through a separate communication channel.
6. Request confirmation from an authorised company representative.
7. Do not make payment on the same day as an unexplained account change.
8. Retain the verification records.

Warning signs include:

• “temporarily pay another account”;
• “send the money to the manager”;
• “use a different payment reference”;
• “split the amount so the bank does not ask questions”;
• “we will update the contract later”.

Payment should stop until the change has been independently verified.

Who should receive the money?

In an off-plan purchase, the normal recipient is the legal entity named as seller in the SPA. In a completed resale, the recipient may be the registered owner or an account used under a documented closing arrangement.

If an escrow or controlled account is involved, ask:

• who legally owns the account;
• who controls release of funds;
• what conditions must be met before the seller receives the money;
• whether the funds are returned if completion fails;
• whether the specific payment is protected by the escrow terms.

The word “escrow” in a brochure has no legal effect without an agreement or official account rules.

If payment is requested to another company within the developer's group, the SPA should expressly state that payment to that entity fully discharges the buyer's obligation.

Documents the bank may request

The bank may ask for translations or additional explanations.

It is useful to prepare a concise transaction summary identifying the buyer, property, price, current instalment, source of funds and final recipient.

Source of funds and source of wealth

Source of funds explains the origin of the specific payment. Source of wealth explains how the buyer's broader capital was accumulated.

Common supporting documents include:

• salary records and tax returns;
• bank statements;
• contracts for the sale of property;
• dividend resolutions;
• business accounts;
• loan agreements;
• inheritance records;
• gift agreements;
• securities-sale statements.

A transfer between the buyer's own accounts does not explain where the money originally came from. The evidence should form a continuous chain.

For example: sale contract, receipt of proceeds, transfer to the buyer's foreign account, currency conversion and payment to the Cambodian developer.

Why the Cambodian bank also reviews the transfer

Cambodian banks apply AML and counter-terrorist-financing procedures to large, unusual and cross-border transactions. They also need sufficient information about the sender and the purpose of the payment.

The recipient bank may request:

• originator details;
• SPA and invoice;
• source-of-funds evidence;
• explanation of a third-party payer;
• evidence connecting the recipient company with the project;
• clarification of an abbreviated or inconsistent payment reference.

If the payer's name, buyer's name and contractual recipient do not form a clear chain, the transfer may be delayed or returned.

Payment reference

The payment description should be accurate and match the transaction documents.

Example:

Payment under SPA No. 2026-015 dated 10 June 2026 for Unit A1507, [Project], instalment 2, buyer [Full Name].

If the bank or seller provides a mandatory format, use it without unnecessary abbreviation.

Do not describe the payment falsely as a loan, consulting fee, family support or another unrelated transaction. A false reference increases the compliance risk and makes it more difficult to prove payment under the SPA.

Payment currency

Many Phnom Penh projects price units in US dollars. Cambodia remains a highly dollarised economy, and USD is widely used in property transactions.

If the SPA allows payment in EUR, CNY or another currency, confirm in writing:

• the exchange rate;
• the date on which the rate is fixed;
• who performs the conversion;
• who bears the spread;
• how much USD will be credited;
• how any shortfall is treated.

If the invoice requires $20,000, sending an approximate euro equivalent without an agreed rate can create an unpaid balance.

OUR, SHA and BEN charges

OUR generally reduces the risk that the seller receives less than the invoice amount, but it does not guarantee that no intermediary deduction will occur.

Confirm whether the SPA requires the full amount to arrive. After credit, obtain a statement and pay any shortfall promptly.

Total cost of a transfer

Suppose the invoice is $20,000.

These are examples, not tariffs for a specific bank. On a large transaction, an unfavourable exchange rate can cost more than the visible fixed fee.

Compare the total amount debited for the seller to receive the required US dollars.

Test transfers

A small test transfer may confirm that the account details and route are technically valid. It does not guarantee that a later large payment will pass the same compliance checks.

A test is useful where:

• the seller accepts it;
• the amount is credited under the SPA;
• the payment reference is accurate;
• the schedule permits an additional small instalment.

Do not split a large payment in order to avoid KYC or bank monitoring. Structuring transactions to evade review creates additional legal and compliance risk.

How much time to allow

For a scheduled instalment, begin preparation at least 10–15 business days in advance:

1. Obtain the invoice.
2. Verify the bank details.
3. Submit documents to the sending bank.
4. Confirm currency and fee treatment.
5. Send the transfer.
6. Obtain the bank confirmation.
7. Wait for seller confirmation.
8. Reconcile the remaining balance.

Check what the SPA treats as the payment date: the date of sending or the date the funds are received.

A transfer initiated on the contractual due date may still arrive late and trigger default consequences.

Evidence of receipt

After each instalment, retain:

• payment order;
• MT103 or equivalent SWIFT record;
• account statement;
• invoice;
• seller receipt;
• statement of account;
• confirmation of the remaining balance and next due date.

The MT103 proves that the bank sent the payment. It does not replace the seller's confirmation that the funds were credited to the correct unit.

If the seller receives less than expected, request a breakdown of deductions and settle the difference.

Higher-risk routes

The following routes should be treated with extreme caution:

• personal account of an agent or employee;
• undocumented cash payment;
• cryptocurrency where the SPA does not recognise it;
• informal exchange networks;
• false payment descriptions;
• deliberate splitting to avoid controls;
• chains of unrelated accounts;
• payment by an unrelated company;
• promises that documentation will be corrected after payment.

Even when the money reaches someone, the buyer may struggle to prove proper performance of the SPA.

Stress-testing a long payment schedule

Consider an apartment priced at $60,000.

A route that works today may stop working during a three-year instalment plan. The buyer should identify a lawful backup option, such as another bank, the buyer's own foreign account or an alternative contract currency.

A backup route should not be used without notifying the seller and confirming how the payment will be credited.

Checklist before sending money

Confirm that:

1. The SPA has been signed by both parties.
2. The recipient matches the transaction documents.
3. The project and unit are clearly identified.
4. An official invoice has been issued.
5. The sending bank supports the country and currency.
6. The correspondent route has been checked.
7. Source-of-funds documents are ready.
8. Any third-party payment is approved in writing.
9. Charges and exchange rates are understood.
10. The required net amount is known.
11. The payment reference has been agreed.
12. The contractual payment date is understood.
13. The return procedure is known.
14. Sufficient time remains before the deadline.
15. The seller will issue a receipt and updated statement.

Conclusion

It is legally possible to transfer money from Russia for the purchase of property in Cambodia. Since 8 December 2025, the Bank of Russia has not imposed a quantitative cap on outbound transfers by Russian citizens, but the practical availability of a payment depends on the bank, currency, correspondent institutions and compliance review by every participant.

The most transparent structure is a transfer from the buyer's own account to the official seller account stated in the SPA and invoice. The buyer's own overseas account can also be used, subject to banking and reporting obligations. Third-party payment should be made only after written approval.

The main risks are an incorrect recipient, substituted bank details, a short payment caused by fees and the absence of formal confirmation that the money was credited to the property.

The correct sequence is to confirm the route before reservation, prepare KYC and source-of-funds evidence, verify the bank details independently, send the payment with an accurate reference and obtain an official receipt and updated balance.

This article is for general information only and does not replace individual banking, currency-control, legal or tax advice. Available banks, currencies and compliance requirements should be checked before every transfer.

To review the payment schedule and banking document package for a specific Phnom Penh project, contact NovAsia Estate.

Sources

1. Bank of Russia — announcement of the removal of outbound-transfer limits from 8 December 2025, published 5 December 2025.
2. Bank of Russia — Cross-Border Transfers and Payments, updated 1 June 2026.
3. Federal Tax Service of Russia — guidance on foreign accounts and movement-of-funds reporting, current in 2026.
4. National Bank of Cambodia — AML/CFT rules and wire-transfer requirements.
5. World Bank — research on the high level of dollarisation in Cambodia.

Frequently asked

How do I pay for an apartment in Cambodia from abroad?

Deals in Cambodia are denominated in US dollars, and payment is made by bank transfer to the developer using the details in the contract. The transfer route is chosen for each buyer's situation and checked for current availability at the time of the deal.

What currency is property bought in in Cambodia?

Cambodia's economy is effectively dollarised, and property prices, contracts and payments are usually denominated in US dollars. This reduces currency risk compared with buying in a local currency.

Is it safe to pay a developer during construction?

Payments follow the instalment schedule to the account details stated in the contract. Safety comes from vetting the developer, a correct SPA, and paying strictly to the official details — never to private accounts. Any deviation from the contract terms is a reason to stop and clarify.