10/11/2024
In an interview published today by The Sun Daily, the President of the Malaysian Institute of Estate Planners (MIEP) commented, “Malaysia’s vision to become a regional hub for wealth management and family offices is steadily taking shape, especially in key areas like Forest City, Johor. We are witnessing an increasing number of family offices and private wealth management firms choosing Malaysia as their base, largely due to the country’s stable political environment, strategic location, and favorable tax incentives.”
He further elaborated, “Malaysia’s multicultural landscape and robust legal framework provide an ideal environment for high-net-worth and ultra-high-net-worth clients. With the government’s introduction of the Single Family Office (SFO) incentive, which offers a five-year tax exemption, Malaysia has a distinct edge in attracting international family offices. Forest City, in particular, is poised to become a key hub for comprehensive wealth management services.”
Discussing the future outlook, he added, “With the continued growth of wealth across Asia, we expect to see a rising number of family offices choosing Malaysia as their regional headquarters or primary base for business expansion. This trend is likely to contribute to sustained economic growth and the long-term development of the local financial sector.”
