Immigration DG: 16 agencies approved for premium visa scheme

KUALA LUMPUR: Sixteen agencies with a total quota of 10,300 slots have been approved for the Malaysia Premium Visa Programme (PVIP), says Datuk Seri Khairul Dzaimee Daud.

The Immigration director-general said each agency or company appointed to handle the programme is required to make a 10% deposit from the RM200,000 participation fee for every principal.

"Thus, with the approved quota of 10,300, the government is expected to generate RM206mil in revenue.

"The deposit must be paid by an agent within 30 days after receiving the approved letter from the Immigration department," he said in a statement on Wednesday (Oct 12).

The PVIP programme- which was launched on Sept 1 - will be implemented in phases so that a proper evaluation can be conducted, he said.

"The first phase only permits a quota of 20,000 participants. After the quota is full, the RM200,000 participation fee will be reevaluated," he added.

Khairul Dzaimee said the PVIP is a high impact programme aimed at attracting foreign investors and global tycoons.

"Appointed agents and participants must meet strict requirements before approval is given by the committee.

"One of the requirements is an appointed agent or company must have paid up capital of RM1mil and be able to pay the deposit of 10% out of the total approved quota," he said.

For participants, Khairul Dzaimee said they must have a monthly income of at least RM40,000 and have RM1mil in savings in a fixed account in any local bank.

"The list of appointed agents are available at the department's website and social media pages to make it easier for participants to apply.

"Further information on the PVIP is also available at the department's official website at www.imi.gov.my.

Last month, Home Minister Datuk Seri Hamzah Zainudin announced the PVIP to attract foreigners of high net worth, successful businessmen and wealthy individuals to the country. The country’s Residency Through Investment programme, which is open for applications as of Oct 1, is expected to help drive the country’s economic growth.