Malaysia introduces new 5-year multi entry visa

by Ray Clancy on September 19, 2014

Malaysia is set to offer business investors 5-year multi entry visas in a move aimed specifically at attracting more Australian business people.

Business men and women, financial managers and wealthy investors are top of the list for the new visa stream.

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The new 5-year visa is expected to strengthen ties with Australia

The new visa scheme will start in December 2014 as part of a new government policy to offer free mobility for skilled experts, business travellers and investors.

Applications can be made at the Expatriate Services Division of the Immigration Department. An Immigration Department spokesman said that the visa is expected to be offered to citizens of China and India as well as to Australian skilled professionals.

It is expected to reinforce business ties with Australia, which has featured in Malaysia’s top ten business partner listings for several years.

The value of mutual services and import/export of goods has increased over the past three years by more than 14% and the government hopes that the new visa scheme will result in more business and investment.

Australian Prime Minister Tony Abbot is pleased with the development and is expecting it to benefit Australian import and export companies as well as investors.

In 2013, Australia was Malaysia’s ninth largest trading partner. Two-way goods and services trade was valued at RM61.9 billion in 2013, an increase from RM46.2 billion in 2010 and a 14.7% increase over three years.

Figures also show that in 2013, Australia’s total investment in Malaysia was RM28.9 billion, while Malaysia’s investment in Australia was RM50.9 billion.

Education is also being hailed as a valuable asset for bilateral relations between the two countries, Australia is a popular destination for Malaysian students and Malaysia has three branch campuses of Australian universities; Curtin University Sarawak, Swinburne University of Technology in Sarawak and Monash University Malaysia in Selangor.

Meanwhile Malaysian Prime Minister Datuk Seri Najib Razak has announced that Malaysia has formally accepted Australia’s invitation to participate in its New Colombo Plan initiative which starts next year.

‘The New Colombo Plan will see interested Australian undergraduates coming to Malaysia for one to two semesters’ studies in local universities as well as mobility programmes like internships in Malaysia,’ Najib said.

It is estimated that some 300,000 Malaysians have been educated in Australia. In any one year, about 20,000 Malaysians are studying in Australian institutions.

‘This is going to be a two way street in the future with the launch of the New Colombo Plan next year. Malaysia as a tolerant, prosperous, multicultural Muslim country and society has much to teach not just Australia, but the whole world,’ said Abbot.

The 5-year multi entry visas will streamline processing times as well as proving important in facilitating the development of the ASEAN Economic Community due to kick off at the end of 2015.

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