Malaysia - New Premium Visa Programme (PVIP)

Malaysia has launched a new Premium Visa Programme (“PVIP”) in September, 2022 to attract wealthy foreigners to invest in Malaysia and reside in the country. This programme based on the concept of “Residency Through Investment” was introduced to drive economic growth, generate national income and create more job opportunities for locals. PVIP will not be replacing the existing Malaysia My Second Home (MM2H) programme.

Kensington Corporate Services (Malaysia) Sdn. Bhd. is a management services company in Malaysia and is able to assist you with incorporation and administration of your company. We would be pleased to assist you with the application for the PVIP in Malaysia.

This document covers summary of PVIP’s features and requirements.

 

Commencement of application

  • October 1, 2022.

 

Eligibility of applicant

  • Citizens of all countries except Israel and those that did not have diplomatic ties with Malaysia.

 

Age limit of main applicant

  • No age restrictions.

 

Duration of visa

  • For a period of twenty (20) years, with renewals granted once every five (5) years.

 

Benefits of programme participants in Malaysia

  • Allowed to work and carry on legal business activities in accordance with laws in Malaysia.
  • Permission to study.
  • Permission to purchase real estate for residential, commercial or industrial purposes.
  • Permission of make active investments

 

Income requirements of main applicant

  • Minimum offshore monthly income of MYR40,000 or MYR480,000 annually.

 

Liquid assets requirements of main applicant

  • Minimum MYR1 million maintained in a fixed savings account in Malaysia with renewals granted once every five (5) years.
  • The applicant would be allowed to withdraw 50% of the principal value for the purpose of purchasing real estate, payment for education and medical expenses after one (1) year of participation in this programme.

 

Accompaniment

  • Applicant is allowed to bring along spouse, children, parents, parents-in-law and domestic workers.
  • Children of participants over the age of 21 years are not considered dependents. They must apply for a separate PVIP application to remain in the country.
  • Applicant and dependents must submit a Letter of Good Conduct issued by the relevant authorities from their countries of origin.


Medical insurance requirements

  • Both the applicant and dependants are required to have medical insurance during the programme period.

 

Fees

  • One-off participation fee of MYR200,000.
  • In addition, each individual dependent will be subject to a one-off levy of MYR100,000.
  • Annual fee of MYR2,000 for the pass and all participants.

The information in this document is not advice of any kind but general information only and should not be relied on as legal advice. Kensington Trust Group recommends seeking professional advice on legal or tax issues affecting you before relying on it. While Kensington Trust Group tries to ensure that the content of this document is accurate, adequate or complete, it does not represent or warrant, express or implied, its accuracy, correctness, completeness or use of any of the information. Kensington Trust Group does not assume legal liability for any loss suffered as a result of or in relation to the use of this document. To the extent permitted by law, Kensington Trust Group excludes any liability for negligence, for any loss, including indirect or consequential damages arising from or in relation to the use of this document.