Malaysia’s family office initiative gains momentum

MALAYSIA: The Single Family Office Incentive Scheme has seen six approvals so far by the Securities Commission Malaysia (SC), since the scheme was launched in the southern state of Johor’s Forest City special zone in September 2024. These early approvals consist mainly of Malaysian entities with total indicative AuM of over RM400 million (US$94.9 million). The SC said it has received more than 30 expressions of interest and targets RM2 billion (US$474.5 million) in AuM by the end of 2026. Among the incentives gazetted include a 20-year tax holiday and easier residency approvals – as long a minimum RM30 million (US$7.12 million) is invested in various assets, including the Islamic capital market.