Malaysia Residency Programs: MM2H and PVIP Visa Opportunities for Investors
The Malaysian government allows applicants and their families to reside in the country through the Malaysia My Second Home (MM2H) Program or the Premium Visa Program (PVIP). Successful applicants receive a long-term multiple-entry visa in exchange for their investment. It’s important to mention that the PVIP program is currently suspended.
The PVIP visa is a 20-year multiple-entry visa issued in five-year increments. Applicants for the PVIP can be of any age and are permitted to work and operate a business in Malaysia. There is no requirement for them to live in Malaysia.
Key Benefits of Malaysian Residence by Investment
- Straightforward, Efficient Program: The residence by investment program is designed to be user-friendly and efficient, facilitating a smooth application process for investors.
- Long-Term Visa: Successful applicants receive a 20-year residence visa, which can be renewed for an additional 20 years, providing long-term stability.
- No Age Restrictions: There are no age limitations for the main applicant, making it accessible for individuals of all ages.
- Work and Business Opportunities: Visa holders can live, work, and conduct business in Malaysia, enjoying the country’s vibrant economy.
- Family Inclusion: Applicants can include their spouse, parents, parents-in-law, and unmarried children under 21 years old in their application, promoting family unity.
- Flexible Residency Requirements: There is no minimum stay requirement, allowing for greater flexibility in residence and travel.
- Multicultural Environment: Malaysia boasts a multicultural population and a contemporary way of life, offering a rich cultural experience and diverse community interactions.
- Property Investment Options: Investors can purchase residential properties with prices ranging from MYR 300,000 (approximately USD 70,000) to MYR 1 million (approximately USD 212,000), depending on the state, providing a wide range of choices for housing.
- Favourable Taxation: Taxation is only applied to income sourced within Malaysia, and the country has an extensive network of double tax agreements, making it an attractive option for international investors and expatriates.
Key Requirements of the Premium Visa Program (PVIP)
To acquire Malaysian residence under the Premium Visa Program, foreign nationals must meet the following criteria:
- Proof of Income:
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- Applicants must provide evidence of a minimum offshore income of MYR 40,000 (approximately USD 8,500) per month or MYR 480,000 (approximately USD 100,000) per year.
- Investment Requirement:
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- Upon approval, successful applicants must invest MYR 1 million (approximately USD 212,000) into a local fixed deposit account. This investment must be maintained throughout the duration of the applicant’s stay in Malaysia under the program.
- Applicants can withdraw up to MYR 500,000 (approximately USD 106,000) after the first year for approved expenses related to:
- Purchase of a house
- Education for children in Malaysia
- Medical expenses
All applicants must complete a medical examination in Malaysia. Additionally, applicants aged 60 or below are required to purchase medical health insurance.
Process for applying for Malaysian Residence by Investment
- Conditional Approval:
- The Malaysia Immigration Department will issue a conditional approval letter to each approved applicant.
- Visa Limitations:
- Holders of the MM2H (Malaysia My Second Home) visa are not permitted to work in Malaysia. Neither the MM2H nor PVIP visas lead to permanent residence.
- Completion of Requirements:
- After submitting the application for residence and receiving initial approval, applicants can visit Malaysia to complete remaining requirements, such as:
- Opening a bank account
- Fulfilling medical requirements
- After submitting the application for residence and receiving initial approval, applicants can visit Malaysia to complete remaining requirements, such as:
- Full Approval and Visa Issuance:
- Upon meeting all requirements, full approval will be granted, and the applicant and their included family will receive long-term multiple-entry visas (10 years under the MM2H program and 20 years under the PVIP).
- Initial Validity and Renewal:
- Both the initial MM2H visa and the PVIP visa are valid for an initial period of five years and can be renewed thereafter, allowing for continued residency in Malaysia.
Frequently Asked Questions (FAQ)
What is the Malaysia Residence by Investment Program?
The Residency by Investment program provides individuals and their families with the opportunity to obtain residency through substantial economic contributions to the economy.
What investment options are available to obtain the Malaysia Residence by Investment?
Investors interested in the Premium Visa Program (PVIP) must demonstrate proof of significant offshore income at the time of application submission. This requirement ensures that applicants have the financial means to support themselves while living in Malaysia.
Once approved, applicants are required to invest a substantial amount of MYR 1 million (approximately USD 212,000) into a local fixed deposit account. This investment must be maintained for the entire duration of their stay in Malaysia under the program. Notably, after the first year, applicants are allowed to withdraw up to MYR 500,000 (approximately USD 106,000) for approved expenses, which can include purchasing a home, funding their children’s education in Malaysia, or covering medical costs. This structure ensures that investors contribute to the Malaysian economy while providing them with some flexibility to access their funds when needed.
What are the key advantages of obtaining the Malaysian Residence by Investment?
Key benefits include:
- Long-term Visa: Successful applicants receive a 20-year multiple-entry visa that effectively serves as a residence permit, allowing them and their families to live, work, and study in Malaysia.
- Favourable Tax Regime: Malaysia employs a territorial taxation system, meaning residents are only taxed on income sourced within the country. This, coupled with an extensive network of double tax agreements, makes Malaysia an attractive destination for investors.
- High Quality of Life: Malaysia boasts a multicultural society, modern infrastructure, and a contemporary way of life. Residents enjoy a wide range of amenities, from excellent healthcare and education to diverse culinary experiences and recreational activities.
- Family Inclusion: Applicants can include their spouses, parents, parents-in-law, and unmarried children under 21 in their visa application, fostering family unity.
- No Minimum Stay Requirement: There is no minimum stay requirement, allowing residents the flexibility to travel as needed without losing their visa status.
Is there a minimum investment requirement for the Malaysian Residency by Investment?
Minimum investment requirements begin at MYR 1 million.
What is the timeframe for processing an application?
Application processing times for the Residence by Investment program can vary. Please contact Compass Services directly for further information.
Can I include my family members in my Residence by Investment application?
Yes, the main applicant can include their spouse and any dependent children in their residency application. Dependent parents may also be added.
Are there any residence requirements in Malaysia?
No, there are no requirements regarding minimum stay or physical presence in Malaysia.
What documentation will be required for the application process?
Documents required include:
- A valid passport
- Proof of investment
- Proof of health insurance
- Certificate of no criminal record
Can you obtain Malaysian citizenship through the Residence by Investment program?
No, applying for Malaysian citizenship is a separate and more rigorous process.
What is the procedure for applying to the Malaysian Residency by Investment Program?
Applicants are required to select a qualifying investment, submit their application along with the necessary documents, and complete a due diligence process.