On 5 and 6 May 2025, the local media reported that the first pilot Single Family Office (“
SFO”) has been established in the Forest City Special Financial Zone (“
FCSFZ”), one of the key pillars of the Johor-Singapore Special Economic Zone (JS-SEZ).
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The media also reported that the Securities Commission Malaysia has approved the setting-up of a SFO by another Malaysian family and that thus far, 19 companies from Malaysia, Singapore and Thailand have shown interest in the SFO scheme.
SFOs that are established in the FCSFZ will, among other benefits, be eligible for zero tax rate for an initial 10 year period (plus an addition 10 years thereafter), subject to fulfilment of the conditions.
Our article on the financial incentives for the SFOs that are established in the FCSFZ can be accessed
here.
Alert by Jesy Ooi (Partner) of the Wealth Management Practice of Skrine.