Single Family Office

A SFO is a corporate vehicle wholly owned or controlled by members of a single wealthy family, established to exclusively manage the assets, investments and long-term interests of that family. The SFO may also represent multiple generations and branches of the family.

Forest City will be the 1st location in Malaysia to offer a 0% tax rate incentive for the Family Offices.

Requirements to qualify for the 0% tax incentive:

To qualify for the Initial Period (10 years):

The SFOV must be a new investment holding company incorporated in Malaysia and seek pre-registration with the SC on the eligibility of the tax incentives;
The management company or SFO2 which is a related company of SFOV to be set up and operate out of Pulau 1, Forest City Special Financial Zone with at least one investment professional earning a minimum monthly salary of RM10,000.
Hold AUM of at least RM30 million; meet minimum local investment in eligible and promoted investments of at least 10% of the asset under management (AUM) or RM10 million whichever is lower;
SFOV must spend on operating expenditure (OPEX) locally with a minimum of RM500,000 annually;
Employ a minimum of 2 full-time employees, with at least one being an investment professional earning a minimum monthly salary of RM10,000.

To qualify for an Additional Period (additional 10 years):

Hold AUM of at least RM50 million; meet minimum local investment in eligible and promoted investments of at least 10% of the asset under management (AUM) or RM10 million whichever is higher;
SFOV must spend a minimum of RM650,000 annually on OPEX locally (30% higher than the Initial Period);
Employ a minimum of 4 full-time employees.

Single Family Office

Requirements to qualify for the 0% tax incentive:

To qualify for the Initial Period (10 years):

To qualify for an Additional Period (additional 10 years):

Premier Banking

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