UGLOBAL . COM 77
GOLDEN PASS SCHEME : ATTRACTING UNICORNS AND VENTURE CAPITALIST
The Malaysian government recently introduced the Golden Pass scheme to attract unicorn start-ups and venture capitalists ( VCs ), aiming to establish Malaysia as a top business hub in Southeast Asia . This initiative seeks to draw investment while fostering innovation and creating new job opportunities .
Key benefits of the Golden Pass scheme : For Unicorns :
• Fee exemptions : Exemptions on employment passes for senior management executives .
• Rental subsidies : Subsidized rental rates for office spaces .
• Tax concessions : Tax incentives and breaks to encourage investment and growth .
For VCs :
• Subsidized office spaces : Subsidized rental rates for office spaces .
• Expedited license registrations : Streamlined and faster process for obtaining necessary licenses .
• Exempted fees for employment passes : Waived fees for employment passes for key personnel .
SINGLE FAMILY OFFICE SCHEME : A FINANCIAL HUB FOR HNW FAMILIES
Malaysia ' s Family Office Incentive Scheme is a recent initiative to attract Single Family Offices ( SFOs ) to establish operations in Johor ’ s Forest City Special Financial Zone .
This program provides a 0 % tax rate on qualifying investment income , subject to certain conditions .
Its goal is to encourage wealth management firms to choose Malaysia , thereby increasing local employment and economic activity in Forest City . The scheme is anticipated to be launched by early 2025 .
• Work visa exemptions : Exemptions for senior executives on work visas .