Incentives for Islamic Fund and Wealth Management
22 Oct 2018 | Monday
Institutional
- 10-year tax exemption on all fees received by fund management companies for managing approved Islamic funds for both local and foreign investors up to 2016.
Personal
- Income tax exemption to be given to income received by non-resident experts in Islamic finance.
Operational
- Allowed to conduct foreign currency and ringgit fund management for both retail and institutional investors
- Incentives for Investment Activities
- Islamic fund management companies are allowed to invest all their Shariah funds abroad.
Start-up Fund Incentive
- Employees Provident Fund(EPF) has set aside a specific allocation of start-up fund for foreign Islamic fund management companies.
Relaxation of Foreign Equity Ownership Rules
- Up to 100% foreign equity ownership in the Islamic fund management company.
Facilitative Immigration Policies
- Fast and easy immigration approval through the "Green Lane" established for expatriates in Islamic finance and their family members.
Incentives for Investment Activities
- Islamic fund management companies are allowed to invest all their Shariah funds abroad.