Malaysia's Securities Commission says its Single Family Office Incentive Scheme has an indicative RM20.8 billion in assets under management, and that Budget 2027 enables a multi-family office model alongside it, but the figure is described as indicative and approved-office numbers reported earlier were far smaller.

TL;DR

  • On 9 October 2026 the Securities Commission Malaysia (SC) said the scheme collectively has an indicative RM20.8 billion in assets under management, about US$5.09 billion per Asia Asset Management.
  • The SC also said Budget 2027 enables a multi-family office (MFO) model alongside the single family office (SFO) scheme. No MFO terms were published in the sources we read.
  • The SC does not define what the RM20.8 billion covers. Caproasia reported only 9 approved SFOs with about RM670 million as of 4 May 2026.

What did Malaysia announce about family offices?

The SC is Malaysia's capital markets regulator. In its 9 October 2026 statement welcoming Budget 2027, it said the SFO scheme collectively has an indicative RM20.8 billion in assets under management to date, and that Budget 2027 measures are expected to further expand it. It said enabling the MFO model alongside the scheme shows Malaysia is ready to become a full-service wealth management hub for global families and asset owners. SC Chairman Mohammad Faiz Azmi described the targeted measures as a first step in delivering the Capital Market Masterplan 2026 to 2030. The Star reported the same figures the same day.

How does Malaysia's single family office scheme work?

A single family office manages the wealth of one family. Caproasia, a Hong Kong finance news site, summarises the scheme announced in September 2024 for the Forest City Special Financial Zone in Johor: 0% tax on eligible investment income for up to 20 years in two 10-year periods, through a new Malaysian investment holding company registered in Forest City. For the first 10 years it lists minimum assets of RM30 million, local investment of the lower of 10% of assets or RM10 million, at least RM500,000 in annual local operating expenses, and at least two full-time staff including one investment professional. Tougher thresholds apply in the second period. The SC's guidelines add that the management company must be wholly owned by members of one family, and that assets must be managed in Malaysia and held through a licensed bank or capital market services licence holder. Check the SC guidelines for current terms.

Does RM20.8 billion match the number of approved offices?

Not obviously. Caproasia's timeline reports 6 approved SFOs with about RM400 million as of October 2025 and 9 with about RM670 million as of 4 May 2026, and a 2030 target of RM500 million to RM1.2 billion set in November 2024. The SC calls its figure indicative and gives no as-of date or definition, and PwC Malaysia, in a promotional note, calls it the ecosystem's indicative assets. We could not reconcile the figures, so treat RM20.8 billion as a regulator estimate, not a count of assets held by approved offices.

Why does it matter for Asian families?

Families comparing Asian hubs weigh tax treatment, local substance and regulation. Malaysia is positioning against Singapore and Hong Kong, which we cover at https://asiafamilyofficehub.com/are-family-offices-moving-from-singapore-to-hong-kong-what-mas-deloitte-and-beijings-trust-tax-rules-show/ and https://asiafamilyofficehub.com/mas-is-reviewing-which-investments-qualify-for-single-family-office-tax-exemption-what-families-asked-for-and-what-is-not-confirmed/ and for Singapore's notification deadline see https://asiafamilyofficehub.com/singapore-single-family-offices-have-until-15-june-2027-to-notify-mas-what-the-revised-framework-requires/ PwC Malaysia's Fung Mei Lin argues that tax is one factor and that families should start from purpose, governance and succession. That is the author's view, and PwC invites readers to contact it.

What is not confirmed?

The MFO model's eligibility, incentives and start date are not published in the sources we read. The scheme details above come from a secondary summary and may have changed. We have not verified how many offices are approved today. This is not legal, tax or investment advice.

Frequently Asked Questions

How much is in Malaysia's single family office scheme?

The SC says an indicative RM20.8 billion in assets under management as of its 9 October 2026 statement, without an as-of date or definition.

What is a multi-family office?

It serves several families on one platform. Budget 2027 enables the model alongside the SFO scheme, with no terms published in our sources.

Where does the scheme apply?

Caproasia reports it was launched for the Forest City Special Financial Zone in Johor, with a 0% tax rate on eligible investment income for up to 20 years.

Sources and Method

Primary: Securities Commission Malaysia, Securities Commission Malaysia Welcomes Budget 2027, 9 October 2026, https://www.sc.com.my/resources/media/media-release/securities-commission-malaysia-welcomes-budget-2027, and SFO scheme guidelines page, https://www.sc.com.my/regulation/guidelines/single-family-office-sfo-incentive-scheme. Independent: The Star, 9 October 2026, https://www.thestar.com.my/business/business-news/2026/10/09/budget-2027-measures-to-support-capital-market-growth-financing-access-says-sc; Asia Asset Management, 14 October 2026, https://www.asiaasset.com/family-offices/malaysia-family-office-aum/; Caproasia, 15 October 2026, https://www.caproasia.com/2026/10/15/malaysia-family-office-incentive-scheme-budget-2027-updates-1-single-family-offices-with-5-billion-myr-20-8-billion-aum-under-incentive-scheme-2-will-enable-multi-family-office-model/; PwC Malaysia, 16 October 2026, https://www.pwc.com/my/en/perspective/private-business/2601016-what-it-means-for-wealth-owners.html.