Investing into Forest City? Here are the special incentives
Lots of news already have this because it’s a significant news for Johor and of course for investors from across the straits. I do think we need to have continuous news so that everyone can see there’s progress and then we will see a sudden influx. Else, it will slowly trickle in and this may not be the best case scenario. Do refer to the summary as below and a lot of other media articles right after this too.
Forest City Special Financial Zone special incentive:
- Corporate Tax: A preferential tax rate of 0-5% for businesses operating in the zone.
- Knowledge Workers: A personal income tax rate of 15% for knowledge workers employed in the zone.
- Family Offices: A 0% tax rate for establishing and operating family offices.
- Fintech and Foreign Payments: A reduced tax rate of 5% on foreign payment services in the fintech sector.
- Shared Services: Incentives for companies in the shared services industry, including insurance.
- Digital Payment Hub: The zone is positioned as a hub for digital payment solutions.
- Banking and Insurance: Attractive incentives for banking and insurance companies, such as relocation cost support, building allowances, and exemptions from withholding tax.
- Branch Establishment: Simplified procedures for opening branches, with regulatory benefits.
Media articles as below:
Free Malaysia Today Article: 0-5% corporate tax rate under Forest City incentives
The Edge Malaysia.com: Govt announces incentives to jumpstart Forest City special financial zone
Xinhua News: New incentives unveiled as Malaysia’s Forest City special financial zone launched
Happy thinking about it and all the best.
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