KUALA LUMPUR: The Securities Commission Malaysia today unveiled the framework for a new Family Office incentive scheme designed to enhance Malaysia's investment landscape.
The incentives are contingent on several conditions: SFOVs must establish and operate a registered office in Pulau 1, Forest City Special Financial Zone, and the incentives will be available for 20 years, divided into an initial 10-year period followed by another 10 years. SC chairman Datuk Mohammad Faiz Azmi said the SFO scheme positions Malaysia as an attractive destination for both regional and local families to manage their wealth."The estimated economic multiplier of this initiative, including local substance requirements, is projected to range from RM3.9 billion to RM10.7 billion.