Comparison Malaysia My Second Home (MM2H) Visa and Premium Visa Programme (PVIP)
Malaysia’s very own ‘Residency Through Investment Programme’ or also known as Premium Visa Programme (PVIP) was announced by the Home Minister, Datuk Seri Hamzah Zainudin on 1 September 2022.
What is the Premium Visa Programme (PVIP) all about?
PVIP is a 20-year renewable residency visa that allows foreigners to reside in Malaysia. This programme is intended to attract affluent families across the world to come to Malaysia to invest. Malaysia is considered a country rich with talent and plentiful of resources at very reasonable prices filled with opportunities.
This programme limits the number of applicants of around 1% of the entire Malaysian population. The quota allocated for the Premium Visa Programme is around 300,000 applicants.
Below you will find comparison Malaysia My Second Home (MM2H) Visa and Premium Visa Programme (PVIP) as a helpful guide to assist you to make the right decision.
| Comparison | Malaysia My Second Home (MM2H) Visa | Premium Visa Programme (PVIP) | ||
|---|---|---|---|---|
| Both visa holders can purchase unlimited number of properties in Malaysia as long as the minimum property price for foreigners is adhered to. All eligibility requirements and processing times are subject to change by the government of Malaysia. This may only be used as a reference. | ||||
| Type of Visa | 5 years’ multiple-entry renewable Social Visa | 20 years’ multiple-entry renewable Social Visa | ||
| Dependent Visa | 5 years’ multiple-entry renewable visa for spouse and unmarried children (under age 34) and half yearly visa for parent of main applicant only | 20 years’ multiple-entry renewable visa for spouse and children (under age 21) | ||
Business Conduct | Strictly as investor only. Non-executive Director capacity | Can perform multiple businesses as Director and Shareholder of companies (employment and investment both permitted) | ||
| Requirement to Join | To show RM 1,500,000 in bank account and monthly income of RM 40,000; approval within 90 days | To show monthly income of RM 40,000; approval within 90 days | ||
Age Category | Category 1: Between 35-49 years old Category 2: 50 years and above | All ages are eligible | ||
After approval | To place Fixed Deposit RM 1,000,000 (for aged above 50) or RM 1,000,000 with additional RM 50,000 per dependent (for aged 35-39) in Malaysia bank, medical check-up and insurance | To place Fixed Deposit of RM 1,000,000 in a Malaysian bank | ||
Personal Tax | Any income derived is subject to 0-30% tax | Any income derived is subject to 0-30% tax | ||
Company Tax | For MM2H holder to own 100% ownership of Sdn Bhd company – 24% | Tax rate 24% for Malaysian Sdn Bhd company; tax rate 3% for Labuan company complying with substance requirements | ||
Yearly Compliance | Minimum stay requirement of 90 days per year | N/A | ||
Withdrawal of Fixed Deposit | Permitted up to 50% of Fixed Deposit after 1 year of property purchase, educational & medical expenses in Malaysia | Permitted up to 50% of Fixed Deposit after 1 year of property purchase, educational & medical expenses in Malaysia | ||
Renewal of Visa Requirement | Monthly income and bank balance for the next block of 10 years for you and family | Monthly income for the next block of 20 years for you and family | ||
| Company Bank Act | N/A | Yes, able to open with multiple currencies | ||
| Personal Bank Act | Yes, able to open | Yes, able to open | ||
Office Set-Up | N/A | Optional, depending on preference | ||
Residential Address | Not required | Not required | ||
Government application fees | RM 5,000 for main applicant & RM 2,500 for each dependent | RM 200,000 for main applicant & RM 100,000 for each dependent | ||
To know more about the 2022 MM2H Program New Changes, please visit https://www.migratemalaysia.com/2022-mm2h-program-new-changes/
Feel free to contact us at +6012-3318136 or send us the enquiry form to better advise you to meet your objectives in Malaysia.