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Malaysia Premium Visa Programme (PVIP) 2024
The Malaysian government launched the Malaysia Premium Visa Programme (PVIP) on September 1st, 2022, to attract foreign investors and encourage them to reside in Malaysia for up to 20 years, with an option to renew for an additional 20 years.
The PVIP adopts the "Residency Through Investment" concept, which aims to boost Malaysia's economic growth. The programme will be open for applications from October 1st, 2022, through authorised agents appointed by the Immigration Department of Malaysia. This initiative demonstrates Malaysia's commitment to attracting foreign investments and talents, while also offering high net worth individuals the opportunity to establish a long-term residency in the country.
PVIP is suitable for affluent individuals from countries with diplomatic ties to Malaysia. Some of these countries may include China, Taiwan, Hong Kong, Singapore, Japan, South Korea, the United States, the United Kingdom, Australia, and Canada and more.
The PVIP is similar to Golden Visa initiatives in other countries like Thailand, Singapore, and Portugal. Eligible individuals from countries with diplomatic ties to Malaysia may apply, subject to meeting the programme requirements. The number of applications is limited to 1% of Malaysia's population.
What are the benefits of PVIP?
The Malaysia Premium Visa Programme (PVIP) offers a range of benefits for successful applicants, including:
No age limits for eligibility
Approval for up to 20 years with Multiple Entry Visa (MEV) facilities
Exemption from minimum stay requirements
Permission to work and carry out legal business activities in accordance with Malaysian laws
Permission to study in Malaysia
Permission to purchase real estate for residential, commercial, or industrial purposes
Ability to conduct active investments in permitted fields
Participants can be accompanied by spouses, children, parents, and foreign domestic helpers.
Overall, the PVIP provides a range of advantages for those looking to reside in Malaysia for an extended period, including the ability to work, study, invest, and purchase property, while also allowing family members and domestic helpers to accompany them.
What are the application requirements?
To apply for the Malaysia Premium Visa Programme (PVIP), applicants must fulfill the following requirements:
Have an offshore income of at least RM40,000 per month or RM480,000 annually
Open a fixed deposit account of RM1,000,000 with a licensed bank in Malaysia
Pay participation fees, which are RM200,000 for the principal applicant and RM100,000 for dependents
Submit the application through an authorized agency appointed by the Immigration Department of Malaysia.
what is the Advantages of PVIP over MM2H
The Malaysia Premium Visa Programme (PVIP) and the Malaysia My Second Home Programme (MM2H) are two different programmes with their own unique benefits. However, some of the advantages of PVIP over MM2H include:
- Longer duration of stay: PVIP allows for a 20-year stay in Malaysia, with an option to renew for another 20 years, while MM2H only allows for a 10-year stay with the option to renew.
- No age limit: PVIP has no age limit, while MM2H has an age limit of 35 years old and above for the main applicant.
- No minimum stay requirement: PVIP does not have a minimum stay requirement, while MM2H requires participants to be in Malaysia for at least 90 days per year.
- Investment and business activities: PVIP participants are allowed to work and carry out legal business activities in Malaysia, while MM2H participants are only allowed to engage in part-time work or invest in businesses under certain conditions.
- Accompanying dependents: PVIP allows participants to bring spouses, children, parents, and foreign domestic helpers, while MM2H only allows for spouses and children under 21 years old.
Signup for Free PVIP consultation
Please contact us for further information on the Malaysia Premium Visa Programme (PVIP). Our team is always available to answer your questions and provide any additional support to ensure a smooth and successful PVIP application process.
