Hemis Monastery is situated 45 km from Leh. It was re-established in 1672 by the Ladakhi king Sengge Namgyal. It is said to be the wealthiest monastery in India and is famous for its rich collection of ancient remnants like the copper statue of Buddha, gold and silver stupas, sacred Thangkas, murals and various artefacts. The annual Hemis festival honouring Padmasambhava is held here in early June, and attracts hundreds of tourists from around the world.