New investor visa introduced

The Malaysian government has introduced a Premium Visa Program (PVIP) for investors to live and work in the country.

Key Points:

• Foreign nationals can now submit applications for the PVIP to live, work or study in Malaysia for up to 20 years.
• To be eligible for the PVIP, applicants must:
  • Earn at least 40,000 MYR per month or 480,000 MYR per year.
  • Open a fixed deposit account of at least 1 million MYR with a licensed bank in Malaysia.
  • Pay application fees of 200,000 MYR for themselves and 100,000 MYR for each dependent.
  • Submit applications with an authorized agency appointed by the Immigration Department of Malaysia.
• Premium visa holders are permitted to work, conduct business activities, study and purchase commercial, industrial or residential real estate while living in Malaysia.

Additional Information: Foreign nationals can be of any age to apply for the PVIP and do not need to meet minimum stay requirements to qualify. More information regarding the PVIP is available here.

BAL Analysis: The Malaysian government introduced the new investor visa program to attract more investors, entrepreneurs and foreign talent to not only live in the country but to work and study as well. Previously, Malaysia’s investor visa program did not allow foreign nationals to work or study in the country.

This alert has been provided by the BAL Global Practice group. For additional information, please contact berryapplemanleiden@bal.com.

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