BioNexus Status

BioNexus Status is a special status awarded to qualified companies undertaking biotechnology activities. BioNexus Status companies are eligible for fiscal incentives, funding, and other guarantees to increase their growth, including investment facilitation and advisory services. Apart from the overall benefits and support, BioNexus Status companies are assured a list of privileges as stipulated in the BioNexus Status Bill of Guarantees.

BioNexus Status

Bill of Guarantees

Freedom of ownership

Freedom to source funds globally subject to prevailing Government’s policies

Freedom to bring in knowledge workers subject to prevailing Government’s policies

Eligibility for BioNexus Status incentives

Facilitation of international accreditation and standards

Access to BioNexus Partners Program (BNP) for shared laboratories and other related facilities

Tax incentives

Income tax exemption on non-IP income (100% income tax exemption on statutory income):

OR

Investment Tax Allowance (ITA) of 100% on qualifying capital expenditure (QCE) incurred within a period of five (5) years from the date the first (1st) QCE is incurred. This allowance can be off-set against a maximum of 70% of statutory income from a new business or expansion project.

Concessionary tax rate of 20% on statutory income from non-IP of approved QA, for a period of ten (10) consecutive years of assessment upon the expiry of the income tax exemption.

Tax deduction equivalent to the total investment made at the initiation of commercialisation stage by a company or an individual (that carries out the business), for financing the activity in a BioNexus Status company.

Industrial Building Allowance (IBA) on qualifying expenditure used solely for the purpose of a new business or expansion project for a period of ten (10) years of assessment.

Exemption of import duty and sales tax on imported raw materials/components and machinery and equipment.

Double deduction on expenditure incurred for R&D.

Double deduction on expenditure incurred for the promotion of exports.

Eligibility Criteria

The following criteria must be met by a company wishing to apply for the BioNexus Status:

A legal entity incorporated pursuant to the Companies Act 2016 to undertake the qualifying activity (QA);
Conducts the QA under the BioNexus Status promoted sectors;
Must possess the legal rights to the technology, which must be ready for commercialisation;
The QA must be undertaken in Malaysia; and
A minimum paid-up capital of Ringgit Malaysia One Hundred and Fifty Thousand (RM150, 000).

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BioNexus Status

BioNexus Status

Bill of Guarantees

Freedom of ownership

Freedom to source funds globally subject to prevailing Government’s policies

Freedom to bring in knowledge workers subject to prevailing Government’s policies

Eligibility for BioNexus Status incentives

Facilitation of international accreditation and standards

Access to BioNexus Partners Program (BNP) for shared laboratories and other related facilities

Tax incentives

OR

Eligibility Criteria

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