Whether you're a foodie with your eyes set on Penang or a diving enthusiast looking to get your feet wet in Sipadan, moving to Malaysia just got easier—so long as you have money to invest.
On April 1, the Malaysian Investment Development Authority (MIDA) launched the Investor Pass, a so-called golden visa that allows international businesspeople to reside in the Southeast Asian country for up to one year. The program is designed to attract global entrepreneurs and investors by streamlining the process for them to enter Malaysia—so much so that the application only has a five-business-day processing time, according to MIDA.
The year-long visa is a significant increase in duration compared to the country’s Social Visit Pass, which is only valid for up to three months. But before you scramble to apply, be sure to sharpen your business acumen and have your finances in order.
Visa holders are required to fall into one of three categories: newcomers to the Malaysian market, existing investors or partners of local companies, or those in active discussions with the government. There’s no minimum spend requirement, but potential applicants are expected to be “senior decision-makers” in sectors such as manufacturing, education, and hospitality, MIDA tells Condé Nast Traveler. They’ll be asked to submit proof of employment and plans for potential investments or businesses, in addition to a fee of 1,296.00 Malaysian Ringgit (approximately $307), inclusive of tax but exclusive of additional immigration fees.
Designed to bolster the country’s economy, this new Investor Pass marks another bid by the Malaysian government to entice international high earners with unique visa options. Earlier this year, the country updated its 29-year-old Malaysia My Second Home (MM2H) program. The multi-tier residency initiative aims to target digital nomads, business professionals, and the affluent, according to the country’s Ministry of Tourism, Arts, and Culture and is a popular option for expats looking to retire abroad.
Requirements for the lowest five-year (but renewable) silver-tier include a $150,000 fixed deposit in one of the country’s financial institutions and purchasing a home that costs at least RM 600,000 (about $142,940). The 15-year gold tier requires investments such as a $500,000 deposit and a home of at least RM 1 million (about $238,40), while the highest 20-year platinum tier mandates a $1 million deposit and a RM 2 million (about $473,490) home.
- 250,000 euros (around $260,000) to the conversion of commercial properties into residential use, or the restoration of listed buildings
- 400,000 euros (around $416,000) to the purchase of a property in Greece that is at least 1,292 square feet
- 800,000 euros (around $830,000) to the purchase of property in Athens, Thessaloniki, or islands with more than 3,100 inhabitants
Similarly, Malaysia launched its Premium Visa Programme (PVIP) in 2022, a 20-year pass with an opportunity for local employment and investments but several lofty financial requirements, including: an annual income of at least RM 480,000 (about $113,660), an application fee of RM 200,000 (about $47,360), and opening a fixed deposit account of RM 1,000,000 (about $236,800) at a local bank.
MM2H and PVIP should be the go-to for globetrotters seeking long-term Malaysian residency and the option to bring family (dependents). However, applications could take up to five months to process, Henley and Partners, a citizenship and residency consulting firm, tells CNT. The new Investor Pass doesn’t allow for dependents, but is instead best for businesspeople seeking a 12-month visa and potential business opportunities.
“The Investor Pass itself is deliberately short, which creates a built-in compliance checkpoint,” says Laura Madrid, a researcher at residency-by-investment consulting firm Global Citizens Solutions. “For an extension, authorities will re-evaluate whether genuine investment activity has taken place. ”
Malaysia isn’t alone in launching new visa schemes as a way to attract digital nomads and foreign investors. An increasing number of Southeast Asian countries have golden visa programs like these that are designed to attract wealthy long-term residents.
Indonesia has a multi-tier golden visa that lasts for up to 10 years, while Vietnam is expected to launch its own iteration of the coveted program. And in Thailand, people with a net worth of at least $1 million can apply for a 10-year visa, or pay upwards of 5,000,000 Thai baht (about $153,120), for the country’s 20-year Privilege Residence Program.
The European Union has expressed concerns about residence-by-investment programs, saying in 2022 that they “raise inherent security, money laundering, tax evasion, and corruption risks.” Yet, this warning doesn’t seem to be dampening their popularity, especially among Americans: Amid “unprecedented volatility” in the US, Henley and Partners now has more American clients than the next four major nationalities (Turkish, Indian, Chinese, and British) combined, Dominic Volek, the company’s group head of private clients, tells CNT.
“ Ultimately, Americans are seeking not only financial or lifestyle benefits, but also the assurance that comes with having an additional legal pathway abroad, one that provides freedom of movement, access to better living conditions, and a secure alternative for the future,” says Madrid.
