Golden visa - lure rich people to Southeast Asia

In early September, Malaysia announced a special visa program aimed at wealthy visitors who want to study, work, or do business. The visa is valid for up to 20 years, but the program does not grant Malaysian citizenship to visitors.

The Immigration Department said the scheme is open to citizens from all over the world, except for some countries that do not have diplomatic relations with Malaysia. Eligible applicants must have a minimum annual income of more than $100,000 and a savings account of more than $200,000 in a Malaysian bank. After one year, applicants are allowed to withdraw half of the savings account amount to pay for education, medical expenses or to buy property.

Thailand launched a new visa program on August 31, aiming to attract one million wealthy or elite visitors from around the world over the next five years. The visa is valid for 10 years. By September 12, Thailand had received nearly 400 applications.

The target group is those who have invested at least half a million dollars in bonds or real estate in Thailand, and have at least one million dollars in their books. They can also be retirees aged 50 and above, with health insurance of over $50,000. The third group is digital nomads and skilled professionals. All must have an annual income of at least $80,000.

In August, Singapore announced the issuance of a five-year visa, called the "professional pass". The subjects are foreigners with a minimum monthly income of $21,500 and their spouse. Otherwise, they must have achieved high achievements in fields such as sports, arts, science, technology and academia. Specific information about this visa will be announced by Singapore in the coming time. The policy will take effect from January 1, 2023.

Cambodia's golden visa campaign is called My Second Home (CM2H). It is valid for 10 years, after which visitors can apply for citizenship. The target audience is "elite foreigners such as investors, businessmen, scientists, researchers, intellectuals...", according to Kirth Chantharith, head of the immigration department.

Those who want to own this visa invest at least 100,000 USD. In return, they enjoy the following benefits: no entry or exit restrictions, work and business permits, health care as well as special assistance services at the airport upon first arrival.

In 2021, Indonesia announced a plan to issue special visas for 5 years, exempting foreign workers from paying taxes. However, to date, this policy has not been announced in more detail.

According to VnExpress