The Government of Malaysia launched a new premium visa program (PVIP) to attract foreign direct investment and investors, which will boost the country’s economy and spur job creation locally. The program opens on October 1, 2022.
Key Details
- The PVIP beneficiaries must have a non-Malaysia-based annual income of $100,000.
- The one-time application fee is $44,000 and $22,000 per dependent.
- PVIP participants must have at least $218,000 in their bank accounts.
Erickson Insights
The early framework of the program lacks some clarifying details, including what types of investments are approved. Malaysia’s Home Affairs Ministry will target 1,000 PVIP participants in the first year.
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