Malaysia’s Forest City SFZ draws first two family offices

Forest City’s Special Financial Zone (SFZ) in Johor, Malaysia, has secured its first two family offices—CMY Capital and Yow Kee—marking a key step in its bid to attract high-value investors via its economic corridor with Singapore. Around 30 more firms from Malaysia, Singapore, and Thailand have shown interest in the SFZ, which offers corporate tax rates as low as zero percent and flat 15% income tax for knowledge-based workers. Family offices managing at least MYR30m (USD6.85m) in assets qualify for the zero-tax incentive. The SFZ is part of the Johor-Singapore Special Economic Zone, with tax perks that rival those in Southeast Asia. Investor facilitation includes a dedicated one-stop service centre and customised incentive packages.