Eligibility Criteria for BioNexus Status
Please take note of the changes in the eligibility criteria for BioNexus Status application which took effect from 1st February 2012.
The change in the eligibility criteria was necessary to enhance the quality of the BioNexus Status framework and meet the changing requirements of the market.
You are required to fully understand the eligibility criteria before proceeding with your application and for comprehensive guidance on the application process for BioNexus Status, you can refer to the following Guidance Paper:
BioNexus Bill of Guarantees
Every BioNexus status company is guaranteed the below list of privileges devised to foster an environment for research and business development.
BioNexus Tax Incentives
A company undertaking biotechnology activity and has been approved with BioNexus Status by the Malaysian Bioeconomy Development Corporation Sdn Bhd (Formerly known as Malaysian Biotechnology Corporation Sdn Bhd) may apply for the following incentives:
- An exemption of 70% of statutory income:
- For a period of ten (10) consecutive years of assessment from the first year of the company derived statutory income from non-intellectual property of the new business; or
- For a period of five (5) consecutive years of assessment from the first year of the company derived statutory income from non-intellectual property of the existing business and expansion project; or