PUTRAJAYA: . Home Minister Datuk Seri Hamzah Zainudin said the programme will commence on October 1. He also said that PVIP, conducted in conjunction with the Immigration Department, will be based on the concept of “Residency Through Investment”, with one of the main criteria being that applicants must have at least RM1 million in a fixed deposit account.He said that the programme will be available to citizens of all countries except Israel and those that have no diplomatic ties with Malaysia.
“The principal needs to have a fixed savings account of at least RM1 million and withdrawals of 50 per cent for the purpose of purchasing real estate, health and education are allowed after one year of participating in this programme,” he said.Under the PVIP, participants may bring in dependents such as spouses, children, parents, parents-in-law, and housekeepers.
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