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TaXavvy Issue 13/2025
In this issue:
Single Family Office Scheme
First announced in September 2024, the Single Family Office Incentive Scheme for the Forest City Special Financial Zone offers a 0% income tax rate on eligible investment income for up to 20 years, conditioned upon meeting at least RM30 million in assets under management, local and promoted investment criteria, and economic substance. Employees are eligible for a reduced 15% income tax rate.
During the Single Family Office Summit hosted by the Securities Commission (SC) today, the SC provided additional details of the incentive. In addition to the previously announced incentives, a one-off exemption from capital gains tax and stamp duty will be granted on the transfer of qualifying assets into the Single Family Office Vehicle.
The scope of permitted investments is also shared today. They include listed shares, bonds, Islamic capital market products, Malaysian private companies (excluding property-only SPVs), real estate holdings limited to Forest City, etc. Bank Negara Malaysia also offers capital flow flexibilities.
To support families and professionals relocating to Malaysia, Resident Pass Talent Visa, which covers family members as well as foreign professionals for up to 20 years will be offered.
TaXavvy is a newsletter issued by PricewaterhouseCoopers Taxation Services Sdn Bhd. While every care has been taken in compiling this newsletter, we make no representations or warranty (expressed or implied) about the accuracy, suitability, reliability or completeness of the information for any purpose. PricewaterhouseCoopers Taxation Services Sdn Bhd, its employees and agents accept no liability, and disclaim all responsibility, for the consequences of anyone acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it. Recipients should not act upon it without seeking specific professional advice tailored to your circumstances, requirements or needs.
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