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Wednesday, June 5, 2013

Dear Malaysian Angel Investors

In conjunction with the recently launched Angel Tax Incentive, Multimedia Development Corporation (MDeC) and Cradle Fund Sdn Bhd (Cradle) will be organising a talk to introduce and promote this incentive to all relevant parties such as angel investors and technology based start-up companies.
The Angel Tax Incentive was announced during the 2013 National Budget by the Government and is designed for angel investors to be accorded a tax exemption of up to RM500,000 in the third year of shareholding period.

The idea of this incentive is to stimulate and encourage angel investments from the private sector into technology based start-up companies in Malaysia. The participation of an angel investment as an alternative source of funding is crucial to promote the innovative products produced by the start-ups to a much higher level.

For Angel Investors:
  • You must be a tax resident in Malaysia; and
  • You are either considered a High Net Worth Individual or High Income Earner
    • High Net Worth Individual – Total wealth or net personal assets of RM3 million and above or its equivalent in foreign currencies; or
    • High Income Earner – A gross total annual income of not less than RM180,000 in the preceding twelve (12) months; or jointly with one’s spouse, a gross combined total annual income of RM250,000 in the preceding twelve (12) months.

For Investee Companies:

  • It has to be a minimum 51% Malaysian owned;
  • It must be a Sdn Bhd company, incorporated in Malaysia and resident of Malaysia;
  • Your company’s core business must be in qualifying activities as approved by the
    Ministry of Finance (MoF) under the focus areas of investment (please refer to the next section);
  • A cumulative revenue of less than RM5 million and has been in operation for three (3)
    years or less (based on the latest financial year result upon application); and
  • The company must not be wound-up and/or in liquidation.

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