Malaysia introduces an immigration facilitation program to attract strategic investors with investments valued at RM5 billion or more, offering them streamlined Residence Pass Talent (RP-T). Additionally, the Digital Nomad Pass is introduced for nomad workers in the manufacturing sector, aiming to stimulate investment, boost the competitiveness of the local workforce, and encourage digital entrepreneurship.
25 July 2023 – The Ministry of Investment, Trade, and Industry (Miti) in Malaysia has unveiled an immigration facilitation program aimed at attracting strategic investors committed to quality investments valued at RM5 billion or more in the country. Under the New Investment Policy (NIP) and the upcoming New Industrial Master Plan (NIMP) 2030, targeted manufacturing sectors promoted by the government will be eligible for the facilitation, offering Residence Pass Talent (RP-T) to investors and the Digital Nomad Pass for nomad workers in the manufacturing sector.
The RP-T pass will grant strategic investors and their immediate family members, including spouses and dependents, a streamlined immigration process with the potential for a 10-year stay in Malaysia. The pass, processed by Talent Corporation Malaysia Bhd (TalentCorp), eliminates the need for investors to obtain an existing employment pass or have prior working experience in Malaysia. Strategic investors are defined as individuals with substantial involvement in investments, including company owners, top-level management, and key decision-makers.
Additionally, Malaysia introduces the Digital Nomad Pass for the manufacturing sector, accommodating digitally or technically skilled foreign talents such as digital freelancers, independent contractors, and remote workers. Nomad workers and their families will be allowed to stay in the country for up to two years under the DE Rantau Digital Nomad Pass, which was introduced by the Malaysian Digital Economy Corporation (MDEC) in October 2022.
The passes were presented by Prime Minister Datuk Seri Anwar Ibrahim to several investors and nomad workers at the Prime Minister’s Department, showcasing the government’s commitment to bolstering the country’s investment landscape and ecosystem.
Tengku Datuk Seri Zafrul Abdul Aziz, the Minister of Investment, Trade, and Industry, emphasized that the facilitation measures aim to capitalize on multinational companies’ current shift towards supply chain security rather than mere cost-efficiency, contributing to their global risk diversification strategy. He believes the immigration facilitation will attract high-value investments, skilled professionals, and stimulate digital entrepreneurship, enhancing Malaysia’s competitiveness and local workforce.
The immigration facilitation program was a joint effort coordinated by Miti with the Home Affairs Ministry, Human Resources Ministry, Communications and Digital Ministry, Immigration Department of Malaysia, Malaysia Investment Development Authority, TalentCorp, and MDEC. The announcement on July 14, 2023, comes as part of the government’s efforts to ease doing business in Malaysia and foster foreign and domestic direct investments.
During the first quarter of 2023, Malaysia received RM71.4 billion in approved investments, with the services sector leading with RM53.6 billion, accounting for 75.1% of the total approved investments. The information and communications sub-sector followed, attracting RM24.9 billion, representing 46.5% of the total. The manufacturing sector secured RM15.6 billion, or 21.8% of the total approved investments. – source: Bernama