Malaysia Residency by Investment Program
Becoming a Resident of Malaysia Guide
About Malaysia
Population: 32.6 million
Languages: English, Malay, Cantonese, Mandarin
Economy: Advanced, multi-sector
Currency: Malaysian ringgit
Malaysia is the 66th largest country by total land area, with a land area of 329,613 km2 (127,264 sq mi).
It has land borders with Thailand in West Malaysia, and Indonesia and Brunei in East Malaysia. It is linked to Singapore by a narrow causeway and a bridge.
The country also has maritime boundaries with Vietnam and the Philippines.
- A straightforward, efficient residence program
- A 10-year visa that enables the applicant and their family to live in Malaysia
- No minimum stay requirement
- An extensive network of double tax agreements, meaning residents may be able to claim a tax refund on foreign income taxed in overseas countries
- A multicultural population
KEY BENEFITS
1. A bank deposit of MYR 300,000 (approximately USD 68,000) for applicants below 50, or
2. MYR 150,000 (approximately USD 34,000) for applicants above 50 years old
3. Processing time of three–six months
4. A 10-year multiple-entry visa enabling the applicant and their family to live in Malaysia
PROGRAM OVERVIEW
Applicants are required to demonstrate the capability to support themselves financially in Malaysia without seeking employment or government assistance. The financial equirements upon application are as follows:
For applicants below the age of 50:
Proof of bankable assets of at least MYR 500,000 (approximately USD 114,000)
Proof of income of at least MYR 10,000 (approximately USD 2,300) per month
For applicants 50 years old and older:
Proof of bankable assets of at least MYR 350,000 (approximately USD 80,000)
Proof of income of at least MYR 10,000 (approximately USD 2,300) per month
MAIN APPLICANT REQUIREMENTS:
For applicants below the age of 50:
REQUIREMENT 1
A bank account must be opened with a deposit of at least MYR 300,000 (approximately USD 68,000)
REQUIREMENT 2
After a period of one year, up to MYR 150,000 (approximately USD 34,000) may be withdrawn for approved expenses
For applicants 50 years old and older:
REQUIREMENT 1
A bank account must be opened with a deposit of at least MYR 150,000 (approximately USD 34,000)
REQUIREMENT 2
After a period of one year, up to MYR 50,000 (approximately USD 11,500) may be withdrawn for approved expenses
The Ministry of Tourism and Culture is responsible for the processing of all applications. The Immigration Unit will issue a conditional approval letter to each approved applicant. It is important to note that the visa does not allow the holder to work in Malaysia, and it does not lead to permanent residence.
PROCEDURES
1. |
Client contacts Vardikos & Vardikos |
2. |
Initial due diligence checks completed |
3. |
Client agreement signed and retainer paid |
4. |
Application for Malaysian residence permit prepared |
5. |
Requirements fulfilled |
6. |
Six-month processing time |
7. |
Application approved |
8. |
Client visits Malaysia to complete the remaining requirements |
9. |
10-year multiple-entry visa received |
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Find out more about VARDIKOS & VARDIKOS legal practices by visiting our site at www.vardikos.ae or www.vardikos.com in order to be informed about your appropriate investment scheme.
For any further clarifications or to arrange a private consultation please do not hesitate to contact us at: [email protected].
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