Here are some of the ways to get residency in Malaysia:
Malaysia My 2nd Home Programme
You could be eligible for this ten year, multiple-entry permanent residency visa if you meet the following requirements.
- If under the age of 50, you need to deposit a minimum of RM300,000 in into a term deposit in Malaysia (approx USD$72,000) and prove that you have a net worth of RM500,000. You can withdraw half of your deposit after one year in order to purchase a home. You also need to show a minimum offshore income of RM10,000 per month (Approx USD2,000).
- If over 50 years of age, you need to deposit a minimum of RM150,000 in into a term deposit in Malaysia (approx USD$36,000) and prove that you have a net worth of RM300,000. You can withdraw up to 50,000 ringgit after one year if you use the funds to purchase real estate in Malaysia or pay for educational expenses or medical care.
- If over 50 years of age you also qualify if you show a minimum offshore income of RM10,000 per month (Approx USD2,000)and prove that you have a net worth of RM300,000.
This visa doesn't allow you to work in Malaysia.
Malaysian Tech Entrepreneur program
If you are a tech founder who wants get support in Malaysia and access to the Asian markets, this visa is for you. There are two programs as follows:
- If you are a New Entrepreneur the fee for 1 years residency is MYR 2650 (approx USD 600).
- If you already have an established business, you can get 5 year residency for MYR 5300 (approx USD1200).
You also need to show that you have MYR 50,000 (approx USD 12,000) in the bank to support yourself as well as your proposed business idea, market opportunity and plans in securing funding.
Work or Business
The Malaysian ‘Employment Pass’ is a work permit that allows immigrants to work and live in the country. The pass is subject to duration of the contract with a particular company for a maximum of five years.
Before the pass is granted by the Immigration Department of Malaysia, relevant authorities must approve of the expat fulfilling a position in the country. The pass allows its holder to work for one specific company and loses its validity if the immigrant changes jobs. Pass holders can apply for a ‘Dependent Pass’ for their children, spouse and parents.
Through your Family
- If your spouse is a citizen or permanent resident, you are eligible for residency. Please note that your status of spouse needs to be legally recognised in this country.
- See the citizenship section below for more information on residency or citizenship based on descent.
Youth Mobility Visa
- If you are an Australian or New Zealand citizen between the ages of 18-30, you may be eligible under the Working and Holiday Visa programme. Note: you may need a letter of government support to undertake this type of visa.