All You Need to Know About the Golden Visa in Malaysia
Malaysia is an attractive and lucrative trade hub that draws substantial foreign investment. Its ideal location, low cost of living and well-developed infrastructure make it idyllic for businesses and start-ups. Many foreigners call Malaysia home, and an easy way to do so is with the Golden Visa in Malaysia.
In this concise guide, 3E Accounting highlights key facts pertinent to any investor looking to move to Malaysia. Do get in touch with us for a quick chat to explore more options and opportunities.
What is a Golden Visa?
A ‘golden visa’ generally refers to an immigration plan where investment offers residency or citizenship. Quite a few countries offer a golden visa programme, including the United Arab Emirates, Switzerland, Singapore, etc.
The Golden Visa in Malaysia is one of the most popular, offering numerous benefits at low investment costs. However, the golden visa does not confer citizenship in Malaysia but facilitates long-term residency via investment. It is much sought-after, especially amongst investors from Japan and China.
Essential Golden Visa Criteria to Know About
There are numerous ways to acquire a Permanent Resident (PR) status in Malaysia. Quite a few specialists firms do provide business solutions that handle visa requirements. The four main PR routes include:
- As a spouse of a Malaysian citizen
- As a qualified working professional
- Via Malaysia’s point-based system
- As an expert with in-demand skillsets
However, these routes can be tedious, complex, and in some cases, quite costly. There is also no guarantee of PR status after following all the submission guidelines. A much more desirable fifth route is the Malaysia My Second Home or MM2H scheme, available since 2002.
MM2H is one of the most widely known golden visa schemes in the world. It offers eligible foreign nationals’ residency under the Golden Visa in Malaysia programme. Currently, all MM2H applications fall under the purview of the Malaysian Immigration Department. The recent moratorium on all new MM2H applications is also no longer in effect.
With low investment requirements, foreigners can easily acquire a long-term residence status, which is as good as a PR. As an investor-friendly scheme, MM2H:
- Offers a 10-year multiple-entry social visit pass
- The applicant and their family get visas to reside in Malaysia
- Depending on age, requires a bank deposit of up to MYR 300,000
- Has no minimum residence requirement
As one of the world’s most popular visa programmes, the Golden Visa in Malaysia is certainly trending. It continues to radiate an almost irresistible allure, especially for investors and entrepreneurs. To get the immigration ball rolling, do consider engaging professionals in the arena to ensure a seamless process.
3E Accounting, as a proven business solution provider, offers a comprehensive suite of solutions for all your business needs. From incorporation of company to hassle-free investor immigration services, our team will ensure a professional experience throughout. Contact 3E Accounting Malaysia today to speak to industry experts for the best business solutions available.