The Malaysian authorities in September of 2022 announced the launch of a new residency program by investments, and began to accept applications from October. The PVIP program (not to be confused with MM2H) is a residency by investment program that gives investors, entrepreneurs and foreign talent the ability to relocate and live in Malaysia (obtaining Entry Permit and Identification Card) for up to 20 years. There is only one restriction on Malaysian residency by investments program – applications from Israeli citizens are not accepted.
Malaysian residency — what are the benefits?
First of all, Malaysia is quite close to Singapore, but living here is more affordable. And residency requirements are simpler than for applicants of Singapore’s Global Investor Program and less expensive. So, if you want to live, work, study, invest and run a business in Malaysia, PVIP program (Malaysian residency) gives an opportunity to obtain residency. There is no 90-day physical presence requirement unlike in MM2H program.
Requirements. A minimum investment of RM 1 million (about $223,000) must be deposited in a Malaysian bank and applicant should clarify a guaranteed annual income of at least RM480,000 (about $107,000). Together with the deposit, it will be necessary to pay government fees, which are high enough for the residency program. The processing fees are set at RM200,000 ($43,000) for the main applicant and an additional RM100,000 ($21,540) for each dependent (children up to 21 years old, spouses, parents, parents-in-law). Similar expenses, for example, for Caribbean citizenshipprograms by investment. But Caribbean passport is like a multi visa to Europe (both Schengen and the UK) while Malaysian residency program is for those who would like to settle down in Asia (the Southeast Asia region).
Malaysia definitely needs a boost its economics after crisis caused by COVID-19. And while this country has no bound to any alliances that may force a regulation to it’s on residency program, there is a chance for a good start of the PVIP, Malaysian residency by investments program. The immigration department of Malaysia is expecting to gain a total of RM 5 billion from running investment programs.
