Simple Guide to Securing Asia Residency Permits

In the rapidly evolving global landscape, Asia is emerging as a powerhouse, attracting the attention of high-net-worth individuals seeking growth and diversification. This article offers an insightful guide to second residencies in Asia, focusing on countries that offer relatively accessible permanent residency for the wealthy.

Bahrain

For those who have held a Golden Visa for at least 15 years and meet additional financial and legal criteria, Bahrain offers the Platinum Residency. This exclusive status allows individuals to purchase property anywhere in Bahrain, beyond designated investment areas. The process of obtaining residency through company formation takes approximately six weeks.

Malaysia

Malaysia presents two attractive options: the Malaysia My Second Home (MM2H) visa and the Premium Visa Program (PVIP). The MM2H offers long-term residency for those seeking residence by investment, with options ranging from five to 20 years, a minimum stay of 90 days per year, and dependents included. The PVIP, on the other hand, requires a RM 1 million fixed deposit and RM 40,000 per month offshore income, offering a renewable 20-year visa with no minimum stay requirement.

South Korea

Seoul, an innovative start-up hub, offers a Corporate Investment Residence Visa through specific financial and administrative requirements.

United Arab Emirates (UAE)

The UAE offers residence visas through investment. A two-year temporary residence visa can be obtained through a real estate investment valued at a minimum of AED 750,000, with a requirement to visit the UAE at least once every six months. For a real estate investment of AED 2,000,000, you could be eligible for a ten-year Golden Visa, provided the property is purchased with a qualifying loan.

Vietnam and Thailand

Both Vietnam and Thailand offer residence permits through investment or other means, such as skilled work, entrepreneurship, or education. Thailand offers various pathways to residency, including options for retirees, wealthy investors, skilled workers, entrepreneurs, and more.

Kuala Lumpur, Malaysia

Kuala Lumpur, the bustling capital of Malaysia, is known for its sleek skyscrapers, clean streets, high-quality infrastructure, and a quality of life comparable to Singapore or Hong Kong at a fraction of the cost.

Understanding Your Goals

Before moving to Asia, it's crucial to set your sights on an Asian country that suits your personal and financial goals. Whether your motivation is for lifestyle reasons, tax savings, or investment purposes, understanding your motivations is key to making an informed decision.

The Nomad Capitalist Team

The Nomad Capitalist team ensures clients have all the information they need to make the right decision by providing up-to-date, accurate information about various second residencies and citizenship programs. They recommend considering three factors before moving to Asia: understanding your goals, knowing the practical realities of the chosen country, and compatibility with business and tax laws.

In conclusion, Asia offers a wealth of opportunities for high-net-worth individuals in areas like offshore banking, real estate investment, and economic prosperity. By understanding your goals and researching each country's immigration requirements, you can find the perfect second home in this diverse and dynamic region.