Forest City’s SFZ to be integrated into Johor-Singapore SEZ

Located in Iskandar Puteri, Johor, Forest City is made up of four man-made islands spanning 30 square kilometres.

Forest City is a US$100 billion development by Country Garden Pacificview Sdn Bhd, a joint venture between Country Garden Group and the Malaysian-government-backed Esplanade Danga  Sdn Bhd.

At the launch of the Forest City SFZ, the government announced additional incentives, which included making it the first location in Malaysia to offer a zero per cent tax rate for family wealth offices, by Q1 2025.

Forest City will also offer a concessionary corporate tax rate between zero and five per cent to attract global business services, financial technology, and foreign payment system operators to set up there.

Financial companies will also enjoy incentives that include special deductions on relocation costs, enhanced industrial building allowances and withholding tax exemptions

Johor’s Special Financial Zone (SFZ)

The Special Financial Zone (SFZ) refers to areas designated for financial services and business activities, such as Forest City and parts of Medini . These zones are designed to attract foreign businesses, investors, and professionals.

Key Features of Johor SFZ for MM2H Applicants :

• Integrated Developments : Projects like Forest City offer branded residences, commercial spaces, and amenities tailored to expatriates and foreign investors.

• Business Opportunities : SFZ areas are hubs for international companies, making them ideal for MM2H applicants who wish to combine residency with business activities.

• Premium Pricing : Properties in SFZ areas are often priced higher than other parts of Johor, ensuring they meet the RM 1 million requirement easily.

No Separate MM2H Rules :

Like the SEZ, there are no distinct MM2H rules for SFZ areas. However, the premium nature of properties in these zones aligns well with the MM2H property ownership requirement.

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