Malaysia’s premium visa scheme draws thousands of applications ahead of Oct 1 launch

Tan Ai Leng

Published Wed, Sep 28, 2022 · 05:50 AM

WHILE the application process for Malaysia’s new premium visa programme (PVIP) only begins on Saturday (Oct 1), the government said it has already received thousands of applications from interested parties from all over the world.

Home Minister Hamzah Zainudin noted that 20,000 applications came in within the first week after the government announced the visa earlier this month. The special visa scheme, aimed at attracting global tycoons to come to Malaysia, is expected to be granted to at least 1,000 individuals in the first year, with the estimated revenue to the country being RM200 million (S$62.4 million) and fixed savings of RM1 billion.

The government hopes the PVIP, also known as the “Residency through Investment” programme, can attract these wealthy foreign investors to invest…