On 20 September 2024, the Malaysian government announced new incentives to promote investment in the Forest City Special Financial Zone (SFZ). The Forest City SFZ includes four man-made islands covering 30 square kilometers. The main incentives include:
- Concessionary corporate tax rates of 0% to 5% for businesses operating in the global business service and financial technology sectors;
- A 0% tax rate for family wealth offices;
- A reduced income tax rate of 15% for skilled workers working in t…