Malaysia Premium Visa Programme: A Comprehensive Guide
Malaysia Premium Visa Programme: An Overview
The Malaysia Premium Visa Programme (PVIP) is an residency by investment program that the Malaysian government launched in October 2022.
This program is very similar to the Malaysia My Second Home (MM2H) program but has higher financial requirements and more relaxed rules in other areas.
Eligibility Criteria:
To apply for the Malaysia Premium Visa Programme (PVIP), an applicant must meet the following conditions:
Age and Income: Be at least 18 years old and prove a minimum monthly income of RM40,000 (approximately $8,500 USD).
Fixed Deposit: Make a fixed deposit of RM1,000,000 (approximately $212,000 USD) in any Malaysian bank. Similar to the MM2H program, half of this can be withdrawn after one year for expenses such as property purchases, medical care, or a child’s education in Malaysia.
Health and Conduct: Be in good health and have no criminal record.
Fees: The main applicant must pay a one-time visa fee of RM200,000 (approximately $42,500 USD). The fee for each dependent is RM100,000 (approximately $21,200 USD).
Advantages of the PVIP:
Compared to the MM2H program, the Malaysia Premium Visa Programme (PVIP) offers several key advantages:
1. Lower Age Requirement: The main applicant only needs to be 18 years or older.
2. Longer Visa Validity: The visa is valid for 20 years (issued in 5-year increments, renewable up to four times).
3. No Residency Requirements: There is no minimum stay duration. You can hold the visa without traveling to Malaysia.
4. Flexible Privileges: PVIP visa holders can freely study, work, conduct business, purchase property, and invest in legally compliant sectors in Malaysia. MM2H visa holders, on the other hand, are not permitted to work or study locally.
Application Process:
The application process for the Malaysia PVIP is straightforward, but you must use an official agent to apply. The process includes the following steps:
1. Application Submission: Once all documents are ready, your official agent will submit the application on your behalf. Required documents typically include:
- Personal Documents: Passports and passport-sized photos for all applicants, as well as proof of relationship documents like birth or marriage certificates.
- Criminal Record Check: Required for all applicants aged 18 and over.
- Income Proof: This can be either bank statements or an official overseas income certificate.
2. Conditional Approval: After a review period of no more than 60 business days, if the application is approved, the official body will issue a Conditional Approval Letter.
3. Complete Investment: After receiving conditional approval, you must pay the visa fee, make the required deposit at a local bank, undergo a medical examination in Malaysia, and purchase local medical insurance.
4. Receive Your Visa: Once you submit the medical and insurance reports along with proof of your deposit, you will receive your Malaysia PVIP visa affixed to your valid passport.
Dependents:
The main applicant’s spouse, children under 21, disabled children of any age, and parents (including parents-in-law) can all be included as dependents on the PVIP application.