The scheme is designed to lure those with an offshore income of at least RM40,000 a month and a minimum of RM1 million in their bank account – on top of a one-time, non-refundable participation fee of RM200,000 and RM100,000 fee per dependent.
The unexpected announcement has inevitably led to comparisons between the PVIP and Malaysia’s revamped Malaysia My Second Home (MM2H) and other regional golden visa programmes.
But despite the high barrier to entry, the home ministry said they received 20,000 applications on the first day alone, almost reaching the maximum set limit of 25,000 applications.
Fast forward two weeks, and Malaysia Digital Economy Corporation (MDEC) has announced a programme aimed at promoting the country as the preferred digital-nomad hub in the region, ostensibly using invaluable skill sets as a benchmark for entry instead.
The DE Rantau Programme, announced on Wednesday, is aimed at attracting both local and foreign digital nomads. Set to launch on Oct 1, the goal is to “promote digital professional mobility” across the country while boosting tourism, according to the MDEC website.
Qualifying requirements for foreign applicants are as follows:
1. Type of digital nomad
- a digital freelancer and/or independent contractor; or
- a full-time or part-time remote worker.
2. Types of work
- all sorts of digital work – information technology (software development, UX, UI, cloud, cybersecurity, blockchain, artificial intelligence, machines learning, data-related), digital marketing, creative content, and/or content development, and so on.
3. Proof of work for freelancers/contractors
- an active project contract;
- contract duration three months or longer;
- clientele can be local and/or foreign.
4. Proof of work for remote workers
- an active employment contract;
- contract duration three months or longer;
- employer must be foreign/not based in Malaysia.
5. Annual income
- US$24,000 and above.
The Professional Visit Pass for foreigners will cost RM1,000 and RM500 for each dependent. It will be valid for three to 12 months, and renewable for an additional 12 months.
Nomad network
Meanwhile, if you are a local digital nomad, the DE Rantau Programme has benefits and privileges, for you, too.
While Malaysians obviously do not need a visa to work around the country, MDEC says it aims to create a “nomad-ready network of hubs, services and facilities across the country… to foster and elevate living standards and the remote-working lifestyle”.
By all accounts, local nomads can register for benefits and discounts within the ecosystem built by this initiative and shared by foreign nomads. Qualifying requirements for Malaysian digital wanderers are similar to the above, with the only differences being:
1. Proof of work
- digital freelancer and/or independent contractor and/or remote worker;
- active project contract (freelance projects) or active employment contract;
- contract duration one month or longer;
- multiple contracts are allowed;
- clientele can be local and/or foreign.
2. Annual income
- RM36,000 and above.
Be prepared with a 45mm x 35mm passport photo in jpeg format, proof of qualifications and experience, employment and project contracts, and other supporting documents when applying.
Find out more about the DE Rantau Programme here. Registration for foreign digital nomads will open on Oct 1, while Malaysians can register for access to the planned support and services here.
Reg Ching is a walking quadriplegic (OKU), digital nomad, business consultant, medical cannabis advocate, and cryptocurrency enthusiast. Follow his journey at regching.com.