16 agencies approved for high-impact visa programme

Immigration director-general Datuk Seri Khairul Dzaimee Daud. - Filepic/The Star

KUALA LUMPUR: Sixteen agencies have been approved to handle 10,300 participants under the Malaysia Premium Visa Programme (PVIP).

Each agency or company is required to make a 10% deposit from the RM200,000 participation fee of every principal participant, said Immigration director-general Datuk Seri Khairul Dzaimee Daud.

“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 of receiving the approval letter from the Immigration Department,” he said in a statement yesterday.

Malaysia introduced the PVIP, a long-term residency visa, to attract entrepreneurs, investors and foreign talent to live and work in Malaysia for up to 20 years.

They are allowed to study here or buy property. Participants can be accompanied by their family and domestic helpers.

Among other requirements, applicants must open a fixed deposit account of RM1mil in Malaysia and pay a participation fee of RM200,000 for the principal and RM100,000 for the dependents.

Khairul Dzaimee said the PVIP would be implemented in phases so that a proper evaluation could be carried out.

“The first phase only permits a quota of 20,000 participants. After the quota is full, the RM200,000 participation fee will be re-evaluated,” he added.

He said the appointed agents and participants must meet strict requirements before the green light is given by the approval committee.

“One of the requirements is an appointed agent or company must have a paid-up capital of RM1mil and able to pay the deposit of 10% out of the total approved quota,” he added.

Khairul Dzaimee said the PVIP is a high-impact programme aimed at attracting foreign investors and global tycoons. For the participants, Khairul Dzaimee said they must at least have a monthly income of RM40,000, among others.

“A list of appointed agents are available at the department’s website (www.imi.gov.my) and social media accounts to make it easier for participants to apply,” he added.