The exclusive residency-by-investment visa was first launched by former home minister Hamzah Zainudin in 2022 to attract wealthy people to live in Malaysia.

Tiong told the Dewan Rakyat the programme remains under the control of the home ministry.

He added that, besides Taiwan, PVIP holders also came from China (12), followed by the Netherlands (2), Germany (2), the US (2), South Africa (3), Japan (1), Turkey (1) and Bangladesh (1).

Separately, Tiong revealed there are presently 56,066 active Malaysia My Second Home (MM2H) pass holders in the country as of Jan 31. He did not elaborate further.

The target for the PVIP was 20,000 people in its first phase, with each participant paying RM200,000 for each principal applicant, RM100,000 for each dependent and RM2,000 a year in annual fees.

Based on the data given by Tiong in the parliamentary reply, there were 23 principal PVIP holders and 24 dependents, which translates to RM7 million in fees.

The 2022 Ismail Sabri-led government had set a RM206 million target.

PVIP residents can work, do business, buy properties and invest in permitted industries, according to an official agent’s website.

The principal applicant must have an income of at least RM40,000 a month offshore and RM1 million to deposit in a local bank.

After a year, they can withdraw half the sum to buy real estate and pay education fees or medical expenses.

A PVIP holder is granted a multiple-entry pass to stay in Malaysia for up to 20 years.

Last year, home minister Saifuddin Nasution Ismail said the government may review the PVIP programme if it did not meet its goals.