Special residence pass to be granted to investors committing at least RM5b investments in targeted manufacturing sectors, says Miti

• Immigration facilitation is also being accorded to nomad workers, defined as IT and digital professionals such as digital freelancers, independent contractors and remote workers in targeted manufacturing sectors under NIP and NIMP 2030 in the form of a Digital Nomad Pass.

KUALA LUMPUR (July 25): Strategic investors who have committed quality investments with a value of at least RM5 billion in Malaysia may obtain specifically tailored Residence Pass Talent (RP-T) without having to acquire an existing employment pass or having a prior working presence in the country, said the Ministry of Investment, Trade and Industry (Miti).

The investments will have to be in the targeted manufacturing sectors promoted by the government through its New Investment Policy (NIP) and the upcoming New Industrial Master Plan (NIMP) 2030, the ministry said in a statement on Monday (July 24).

Miti said this pass, which is processed by Talent Corporation Malaysia Bhd, will facilitate the entry and stay of eligible investors, as well as their spouses and dependants for up to 10 years in Malaysia.

Candidates for this pass are identified and recommended by the respective agencies based on their investment value and/or potential for the consideration of the pass.

Meanwhile, immigration facilitation is also being accorded to nomad workers, defined as IT and digital professionals such as digital freelancers, independent contractors and remote workers in targeted manufacturing sectors under NIP and NIMP 2030 in the form of a Digital Nomad Pass.

This pass will enable digitally or technically skilled foreign talents to stay in Malaysia with their spouses and dependents for up to two years, riding on DE Rantau Digital Nomad Pass which was newly introduced in October 2022 by the Malaysian Digital Economy Corporation (MDEC).

Prime Minister Datuk Seri Anwar Ibrahim presented the 10-year strategic investor pass and two-year manufacturing pass to several investors and nomad professionals on Monday under the Strategic Investor Pass (SIP) programme as announced by the government on July 14, the statement said.

It added that the RP-T and Digital Nomad Pass are part of the government’s effort in addressing the skilled talent issues and facilitate investors’ ease of doing business in the country.

Miti Minister Tengku Datuk Seri Zafrul Abdul Aziz (pictured) said the new measure is crucial for Malaysia to capitalise on multinationals’ current re-designing of their global supply chains, as they move away from cost-efficiency to supply chain security as part of their global risk diversification strategy.

Tengku Zafrul said the immigration facilitation will attract quality high value investments and highly skilled professionals, as well as improve the competitiveness of the local workforce and stimulate digital entrepreneurship.

“These programmes will enhance Malaysia’s global reputation as a destination that welcomes and values highly skilled professionals. This, in turn, could attract further talent, investments, and opportunities for international collaborations.

“By facilitating talent attraction and acquisition, Miti is also enhancing the investor’s journey, while making Malaysia’s business ecosystem more vibrant and supportive to existing and future investors,” he added.

For the first quarter of 2023, Malaysia attracted RM71.4 billion in approved investments.

The services sector led other sectors with a value of RM53.6 billion, accounting for 75.1% of the total approved investments.

The information and communications sub-sector came second with approved investments valued at RM24.9 billion, representing a substantial 46.5% share.

Meanwhile, Malaysia’s manufacturing sector attracted RM15.6 billion or 21.8% of the total approved investments.