diff --git a/packages/svelte2tsx/src/htmlxtojsx_v2/index.ts b/packages/svelte2tsx/src/htmlxtojsx_v2/index.ts
index acc2f9c82..66d191902 100644
--- a/packages/svelte2tsx/src/htmlxtojsx_v2/index.ts
+++ b/packages/svelte2tsx/src/htmlxtojsx_v2/index.ts
@@ -40,6 +40,7 @@ import {
 } from '../svelte2tsx/nodes/handleScopeAndResolveForSlot';
 import { EventHandler } from '../svelte2tsx/nodes/event-handler';
 import { ComponentEvents } from '../svelte2tsx/nodes/ComponentEvents';
+import { analyze } from 'periscopic';
 
 export interface TemplateProcessResult {
     /**
@@ -53,7 +54,7 @@ export interface TemplateProcessResult {
     scriptTag: BaseNode;
     moduleScriptTag: BaseNode;
     /** Start/end positions of snippets that should be moved to the instance script or possibly even module script */
-    rootSnippets: Array<[number, number]>;
+    rootSnippets: Array<[start: number, end: number, globals: Map<string, any>]>;
     /** To be added later as a comment on the default class export */
     componentDocumentation: ComponentDocumentation;
     events: ComponentEvents;
@@ -92,7 +93,7 @@ export function convertHtmlxToJsx(
 
     stripDoctype(str);
 
-    const rootSnippets: Array<[number, number]> = [];
+    const rootSnippets: Array<[number, number, Map<string, any>]> = [];
     let element: Element | InlineComponent | undefined;
 
     const pendingSnippetHoistCheck = new Set<BaseNode>();
@@ -249,7 +250,21 @@ export function convertHtmlxToJsx(
                         );
                         if (parent === ast) {
                             // root snippet -> move to instance script or possibly even module script
-                            rootSnippets.push([node.start, node.end]);
+                            const result = analyze({
+                                type: 'FunctionDeclaration',
+                                start: -1,
+                                end: -1,
+                                id: node.expression,
+                                params: node.parameters ?? [],
+                                body: {
+                                    type: 'BlockStatement',
+                                    start: -1,
+                                    end: -1,
+                                    body: node.children
+                                }
+                            });
+
+                            rootSnippets.push([node.start, node.end, result.globals]);
                         } else {
                             pendingSnippetHoistCheck.add(parent);
                         }
diff --git a/packages/svelte2tsx/src/svelte2tsx/createRenderFunction.ts b/packages/svelte2tsx/src/svelte2tsx/createRenderFunction.ts
index ab568ce0e..6a929fe94 100644
--- a/packages/svelte2tsx/src/svelte2tsx/createRenderFunction.ts
+++ b/packages/svelte2tsx/src/svelte2tsx/createRenderFunction.ts
@@ -8,7 +8,6 @@ export interface CreateRenderFunctionPara extends InstanceScriptProcessResult {
     str: MagicString;
     scriptTag: Node;
     scriptDestination: number;
-    rootSnippets: Array<[number, number]>;
     slots: Map<string, Map<string, string>>;
     events: ComponentEvents;
     uses$$SlotsInterface: boolean;
@@ -20,7 +19,6 @@ export function createRenderFunction({
     str,
     scriptTag,
     scriptDestination,
-    rootSnippets,
     slots,
     events,
     exportedNames,
@@ -82,10 +80,6 @@ export function createRenderFunction({
             );
         }
 
-        for (const rootSnippet of rootSnippets) {
-            str.move(rootSnippet[0], rootSnippet[1], scriptTagEnd);
-        }
-
         const scriptEndTagStart = htmlx.lastIndexOf('<', scriptTag.end - 1);
         // wrap template with callback
         str.overwrite(scriptEndTagStart, scriptTag.end, `${slotsDeclaration};\nasync () => {`, {
diff --git a/packages/svelte2tsx/src/svelte2tsx/index.ts b/packages/svelte2tsx/src/svelte2tsx/index.ts
index 06f343ac4..0b48cc607 100644
--- a/packages/svelte2tsx/src/svelte2tsx/index.ts
+++ b/packages/svelte2tsx/src/svelte2tsx/index.ts
@@ -139,7 +139,6 @@ export function svelte2tsx(
         str,
         scriptTag,
         scriptDestination: instanceScriptTarget,
-        rootSnippets,
         slots,
         events,
         exportedNames,
@@ -164,6 +163,32 @@ export function svelte2tsx(
             ),
             moduleAst
         );
+        if (!scriptTag) {
+            moduleAst.tsAst.forEachChild((node) =>
+                exportedNames.hoistableInterfaces.analyzeModuleScriptNode(node)
+            );
+        }
+    }
+
+    if (moduleScriptTag || scriptTag) {
+        const allowed = exportedNames.hoistableInterfaces.getAllowedValues();
+        for (const [start, end, globals] of rootSnippets) {
+            const hoist_to_module =
+                moduleScriptTag &&
+                (globals.size === 0 || [...globals.keys()].every((id) => allowed.has(id)));
+
+            if (hoist_to_module) {
+                str.move(
+                    start,
+                    end,
+                    scriptTag
+                        ? scriptTag.start + 1 // +1 because imports are also moved at that position, and we want to move interfaces after imports
+                        : moduleScriptTag.end
+                );
+            } else if (scriptTag) {
+                str.move(start, end, renderFunctionStart);
+            }
+        }
     }
 
     addComponentExport({
diff --git a/packages/svelte2tsx/src/svelte2tsx/nodes/HoistableInterfaces.ts b/packages/svelte2tsx/src/svelte2tsx/nodes/HoistableInterfaces.ts
index 647926ed0..093a4a132 100644
--- a/packages/svelte2tsx/src/svelte2tsx/nodes/HoistableInterfaces.ts
+++ b/packages/svelte2tsx/src/svelte2tsx/nodes/HoistableInterfaces.ts
@@ -358,6 +358,10 @@ export class HoistableInterfaces {
         }
     }
 
+    getAllowedValues() {
+        return this.import_value_set;
+    }
+
     /**
      * Collects type and value dependencies from a given TypeNode.
      * @param type_node The TypeNode to analyze.
diff --git a/packages/svelte2tsx/test/svelte2tsx/samples/snippet-module-hoist-1.v5/expectedv2.ts b/packages/svelte2tsx/test/svelte2tsx/samples/snippet-module-hoist-1.v5/expectedv2.ts
new file mode 100644
index 000000000..69587fe79
--- /dev/null
+++ b/packages/svelte2tsx/test/svelte2tsx/samples/snippet-module-hoist-1.v5/expectedv2.ts
@@ -0,0 +1,50 @@
+///<reference types="svelte" />
+;
+    let module = true;
+;;
+
+import { imported } from './x';
+  const hoistable1/*Ωignore_positionΩ*/ = ()/*Ωignore_startΩ*/: ReturnType<import('svelte').Snippet>/*Ωignore_endΩ*/ => { async ()/*Ωignore_positionΩ*/ => {
+     { svelteHTML.createElement("div", {});  }
+};return __sveltets_2_any(0)}; const hoistable2/*Ωignore_positionΩ*/ = (bar)/*Ωignore_startΩ*/: ReturnType<import('svelte').Snippet>/*Ωignore_endΩ*/ => { async ()/*Ωignore_positionΩ*/ => {
+     { svelteHTML.createElement("div", {});bar; }
+};return __sveltets_2_any(0)}; const hoistable3/*Ωignore_positionΩ*/ = (bar: string)/*Ωignore_startΩ*/: ReturnType<import('svelte').Snippet>/*Ωignore_endΩ*/ => { async ()/*Ωignore_positionΩ*/ => {
+     { svelteHTML.createElement("div", {});bar; }
+};return __sveltets_2_any(0)}; const hoistable4/*Ωignore_positionΩ*/ = (foo)/*Ωignore_startΩ*/: ReturnType<import('svelte').Snippet>/*Ωignore_endΩ*/ => { async ()/*Ωignore_positionΩ*/ => {
+     { svelteHTML.createElement("div", {});foo; }
+};return __sveltets_2_any(0)};  const hoistable5/*Ωignore_positionΩ*/ = ()/*Ωignore_startΩ*/: ReturnType<import('svelte').Snippet>/*Ωignore_endΩ*/ => { async ()/*Ωignore_positionΩ*/ => {
+     { svelteHTML.createElement("button", { "onclick":e => e,});  }
+};return __sveltets_2_any(0)};  const hoistable6/*Ωignore_positionΩ*/ = ()/*Ωignore_startΩ*/: ReturnType<import('svelte').Snippet>/*Ωignore_endΩ*/ => { async ()/*Ωignore_positionΩ*/ => {
+     { svelteHTML.createElement("div", {});module; }
+};return __sveltets_2_any(0)};  const hoistable7/*Ωignore_positionΩ*/ = ()/*Ωignore_startΩ*/: ReturnType<import('svelte').Snippet>/*Ωignore_endΩ*/ => { async ()/*Ωignore_positionΩ*/ => {
+     { svelteHTML.createElement("div", {});imported; }
+};return __sveltets_2_any(0)};function render() {
+  const not_hoistable/*Ωignore_positionΩ*/ = ()/*Ωignore_startΩ*/: ReturnType<import('svelte').Snippet>/*Ωignore_endΩ*/ => { async ()/*Ωignore_positionΩ*/ => {
+     { svelteHTML.createElement("div", {});foo; }
+};return __sveltets_2_any(0)};
+    
+    let foo = true;
+;
+async () => {
+
+
+
+
+
+
+
+
+
+
+
+
+
+
+
+
+
+};
+return { props: /** @type {Record<string, never>} */ ({}), exports: {}, bindings: "", slots: {}, events: {} }}
+const Input__SvelteComponent_ = __sveltets_2_isomorphic_component(__sveltets_2_partial(__sveltets_2_with_any_event(render())));
+/*Ωignore_startΩ*/type Input__SvelteComponent_ = InstanceType<typeof Input__SvelteComponent_>;
+/*Ωignore_endΩ*/export default Input__SvelteComponent_;
\ No newline at end of file
diff --git a/packages/svelte2tsx/test/svelte2tsx/samples/snippet-module-hoist-1.v5/input.svelte b/packages/svelte2tsx/test/svelte2tsx/samples/snippet-module-hoist-1.v5/input.svelte
new file mode 100644
index 000000000..924dc61aa
--- /dev/null
+++ b/packages/svelte2tsx/test/svelte2tsx/samples/snippet-module-hoist-1.v5/input.svelte
@@ -0,0 +1,40 @@
+<script module>
+    let module = true;
+</script>
+
+<script lang="ts">
+    import { imported } from './x';
+    let foo = true;
+</script>
+
+{#snippet hoistable1()}
+    <div>hello</div>
+{/snippet}
+
+{#snippet hoistable2(bar)}
+    <div>{bar}</div>
+{/snippet}
+
+{#snippet hoistable3(bar: string)}
+    <div>{bar}</div>
+{/snippet}
+
+{#snippet hoistable4(foo)}
+    <div>{foo}</div>
+{/snippet}
+
+{#snippet hoistable5()}
+    <button onclick={e => e}>click</button>
+{/snippet}
+
+{#snippet hoistable6()}
+    <div>{module}</div>
+{/snippet}
+
+{#snippet hoistable7()}
+    <div>{imported}</div>
+{/snippet}
+
+{#snippet not_hoistable()}
+    <div>{foo}</div>
+{/snippet}
diff --git a/packages/svelte2tsx/test/svelte2tsx/samples/snippet-module-hoist-2.v5/expectedv2.ts b/packages/svelte2tsx/test/svelte2tsx/samples/snippet-module-hoist-2.v5/expectedv2.ts
new file mode 100644
index 000000000..90505a1e5
--- /dev/null
+++ b/packages/svelte2tsx/test/svelte2tsx/samples/snippet-module-hoist-2.v5/expectedv2.ts
@@ -0,0 +1,21 @@
+///<reference types="svelte" />
+;
+import { imported } from './x';
+function render() {
+  const hoistable/*Ωignore_positionΩ*/ = ()/*Ωignore_startΩ*/: ReturnType<import('svelte').Snippet>/*Ωignore_endΩ*/ => { async ()/*Ωignore_positionΩ*/ => {
+     { svelteHTML.createElement("div", {});  }
+};return __sveltets_2_any(0)};  const not_hoistable/*Ωignore_positionΩ*/ = ()/*Ωignore_startΩ*/: ReturnType<import('svelte').Snippet>/*Ωignore_endΩ*/ => { async ()/*Ωignore_positionΩ*/ => {
+     { svelteHTML.createElement("div", {});foo; }
+};return __sveltets_2_any(0)};
+    
+    let foo = true;
+;
+async () => {
+
+
+
+};
+return { props: /** @type {Record<string, never>} */ ({}), exports: {}, bindings: "", slots: {}, events: {} }}
+const Input__SvelteComponent_ = __sveltets_2_isomorphic_component(__sveltets_2_partial(__sveltets_2_with_any_event(render())));
+/*Ωignore_startΩ*/type Input__SvelteComponent_ = InstanceType<typeof Input__SvelteComponent_>;
+/*Ωignore_endΩ*/export default Input__SvelteComponent_;
\ No newline at end of file
diff --git a/packages/svelte2tsx/test/svelte2tsx/samples/snippet-module-hoist-2.v5/input.svelte b/packages/svelte2tsx/test/svelte2tsx/samples/snippet-module-hoist-2.v5/input.svelte
new file mode 100644
index 000000000..dd221c944
--- /dev/null
+++ b/packages/svelte2tsx/test/svelte2tsx/samples/snippet-module-hoist-2.v5/input.svelte
@@ -0,0 +1,12 @@
+<script lang="ts">
+    import { imported } from './x';
+    let foo = true;
+</script>
+
+{#snippet hoistable()}
+    <div>hello</div>
+{/snippet}
+
+{#snippet not_hoistable()}
+    <div>{foo}</div>
+{/snippet}
diff --git a/packages/svelte2tsx/test/svelte2tsx/samples/snippet-module-hoist-3.v5/expectedv2.ts b/packages/svelte2tsx/test/svelte2tsx/samples/snippet-module-hoist-3.v5/expectedv2.ts
new file mode 100644
index 000000000..a48aa0ae9
--- /dev/null
+++ b/packages/svelte2tsx/test/svelte2tsx/samples/snippet-module-hoist-3.v5/expectedv2.ts
@@ -0,0 +1,17 @@
+///<reference types="svelte" />
+;
+    let foo = true;
+;  const hoistable1/*Ωignore_positionΩ*/ = ()/*Ωignore_startΩ*/: ReturnType<import('svelte').Snippet>/*Ωignore_endΩ*/ => { async ()/*Ωignore_positionΩ*/ => {
+     { svelteHTML.createElement("div", {});  }
+};return __sveltets_2_any(0)};  const hoistable2/*Ωignore_positionΩ*/ = ()/*Ωignore_startΩ*/: ReturnType<import('svelte').Snippet>/*Ωignore_endΩ*/ => { async ()/*Ωignore_positionΩ*/ => {
+     { svelteHTML.createElement("div", {});foo; }
+};return __sveltets_2_any(0)};;function render() {
+async () => {
+
+
+
+};
+return { props: /** @type {Record<string, never>} */ ({}), exports: {}, bindings: "", slots: {}, events: {} }}
+const Input__SvelteComponent_ = __sveltets_2_isomorphic_component(__sveltets_2_partial(__sveltets_2_with_any_event(render())));
+/*Ωignore_startΩ*/type Input__SvelteComponent_ = InstanceType<typeof Input__SvelteComponent_>;
+/*Ωignore_endΩ*/export default Input__SvelteComponent_;
\ No newline at end of file
diff --git a/packages/svelte2tsx/test/svelte2tsx/samples/snippet-module-hoist-3.v5/input.svelte b/packages/svelte2tsx/test/svelte2tsx/samples/snippet-module-hoist-3.v5/input.svelte
new file mode 100644
index 000000000..fb72eb302
--- /dev/null
+++ b/packages/svelte2tsx/test/svelte2tsx/samples/snippet-module-hoist-3.v5/input.svelte
@@ -0,0 +1,11 @@
+<script module lang="ts">
+    let foo = true;
+</script>
+
+{#snippet hoistable1()}
+    <div>hello</div>
+{/snippet}
+
+{#snippet hoistable2()}
+    <div>{foo}</div>
+{/snippet}