Malaysia’s zero tax rate for family offices in Forest City unlikely to challenge Singapore: experts

Quick Summary:

Location choice for a family office goes beyond tax incentives to entire ecosystem.

Malaysia is offering a special 5 per cent tax rate for fintech and foreign payment system operators setting up in Forest City.

Malaysia is just beginning to establish its presence in the family office sector whereas Singapore is a regional powerhouse, with 1,650 single family offices as at August 31, while Hong Kong had an estimated 2,700 at the end of 2023, they said.

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Article Details

Category: EconomyBusiness

Markets: SingaporeHong KongMalaysia

Topics: Singapore Offices Subscriber-only Cent Family Kong Forest City Malaysia Rate Hong

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-27 @ 16:50:00 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 205 words

Reading Time: 2 minutes read

Sentences: 11 lines

Sentence Length: 19 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 22748867

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About The Straits Times

Main Topics: EconomyBusiness

Official Website: straitstimes.com

Update Frequency: 17 posts per day

Year Established: 1845

Headquarters: Singapore

News Last Updated: 4 hours ago

Coverage Areas: Singapore

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