Duration
Duration
To entice wealthy foreign investors and allow them to live there for 20 years, Malaysia has established the Premium Visa Program (PVIP). The government launched the first program of its kind, "Residency Through Investment," to promote economic development in the nation. The official reports state that applications would be accepted beginning on October 1, 2022.
All foreign nationals will have access to the program, with the exception of Israelis and those from nations without diplomatic links to Malaysia. The Malaysian government will make sure to always keep the number of PVIP holders up to one per cent of the local population at any time.
You are eligible for this visa if,
While filing for this visa, you must provide the following documents;
When to Apply
You may apply for this visa once you meet the conditions and have all the required documents in order. Secondly, you need to know the visa processing time and apply accordingly.
Visa Processing Time
The processing time for the Premium visa program varies depending on various factors. These factors may be the country you are from or the number of applications being entertained at the time. It is normally processed within a month, but it can take longer in certain cases.
How to Apply
The application process for a premium visa program is online, or you may visit the nearest Malaysian embassy to apply for this visa. After filling out the application form, you are required to provide the documents needed, provide the investment money and the visa fee and wait for the confirmation.
Duration
The premium visa program in Malaysia is applicable for 20 long years with a five years validity at a time. During this time, you may continue your studies, buy real estate or make investments in the business.
Fees
The visa processing fee for the main applicant is 200,000 MVR which equals around 12,850 USD. It is reduced to 100,000 MVR for the dependent who is joining the main applicant in Malaysia. This payment is separate from the money you are required to deposit in a Malaysian bank and is only used for visa processing.
As mentioned earlier, the visa is applicable for 20 years. Initially, it is valid for five years and can be extended or renewed repeatedly three times. As per Malaysian law, a visa can not be any longer than five years.
Can you get residence in Malaysia with this visa?
Yes, this is a residence by investment visa that offers residence.
Can you do business on a premium visa for Malaysia?
Yes, this visa allows you to invest in Malaysian businesses.
Can you take dependents with you on this visa?
Yes, dependents are allowed to take with you on a premium visa for Malaysia.
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