Location: On Request
Distance from Male 40 minutes by Seaplane
Size of Island 9 hectors
Lease remaining: 50 years
Grace period: 3 years starting from 2021
Renewal option: Additional 49 years
Proposed acquisition: On Request
12.1. For the purpose of this policy, the following shall be deemed a foreign investor:
(a) A foreign national; or
(b) Foreign Companies & Partnerships:
(i) owned 100 percent by foreigners
(ii) Joint ventures having a stake by both Maldivians and Foreigners; or
(c) Following types of businesses registered in the Maldives:
(i) Partnerships registered by foreign nationals or entities
(ii) Companies with foreign shareholdings
(iii) Companies re-registered under Section 94of Maldives Companies Act; or (d) Any Maldivian or Foreigner that submits a Foreign Investment Proposal.
As per the law pertaining to foreign investments in the Maldives:
A Foreigner (government/national/body) incorporated outside the Maldives may invest in, accordance with the terms of this Law. The Government of the Maldives or any part representing the Government, or Maldivian nationals or a body incorporated in the Republic of Maldives may collaborate in such investments.
The nature and the areas of any Foreign Investment that could so be made in the Republic of Maldives shall be decided by the Ministry of Tourism should the investment be tourism related and by the Ministry of Trade and Industries in all other investments. The said investments shall have a capital acceptable to the Government of the Republic of Maldives.
More information upon request.
When investing in Maldives, the foreign business may opt to enter Maldives either by one of the following TWO options:
Setting up an investment wholly owned by foreigners, ie; by registering investments whose ownership of 51% or whole held by foreigners or entities incorporated outside of the Maldives.
Forming a joint venture with a Maldivian company or nationals, ie; by Registering a joint venture investment whose ownership of 51% or more is held by a Maldivian or wholly-owned Maldivian entities incorporate in the Maldives.
13.1. “Automatic” Route refers to the guaranteed approval process for applications that meet the following qualifications:
(a) the application reflects a commitment to meet the investment requirement or investment threshold stated in Annex 1, during the first 5 (five) years; and
(b) the applicant meets the shareholding percentage stated in Annex 1.
13.2. “Government” Route refers to the approval process for applications in respect of which due to certain sensitivities involved in the sector, industry or proposed investment, an automatic approval may not be guaranteed, and approval of stakeholder agencies of the Maldives Government may be obtained to grant FDI approval.
14 Service Benchmarks Standard service benchmarks for applications submitted under the two routes are as follows:
(a) Automatic Route: 2 (two) working days
(b) Government Route: 5 (five) to 14 (fourteen) working days
More information Upon Request
The Government of the Republic of Maldives refrain from duty and tax investments on Foreign Investors. However, businesses are entitled to pay an annual royalty to the government with regard to the investment option they had chosen.
An administrative Fee of USD 5,000 (United States Dollars Five Thousand) shall be paid to Maldives Inland Revenue Authority (MIRA) by all approved applicants prior to signing the Foreign Investment Agreement.
Those foreign investment entities, in which less than 51% of the ownership is help by Maldivians or wholly owned by Maldivian entities, are obliged to pay an annual royalty akin to 3% of gross turnover or 15% net profit, whichever is greater.
Those foreign investment entities, whose ownership is at least 51% of held by Maldivians or wholly owned Maldivian entities incorporated in the Maldives, are obliged to pay an annual royalty akin to 1.5 percent of gross turnover or 7.5 percent of Net Profit, whichever is greater.
Upon submission of all relevant documents by the investors, all companies incorporated in Maldives are entitled to pay Fees to the Registrar of Company as followed:
1. Annual Fee of USD 156 (approx)
2. Stamp Fee of USD 39 (approx)
3. Company registration fee depending on the authorized registration fee capital of the
Company (Minimum authorized capital of USD 156 [approx.] is required by Law)
4. An administration fee of USD 2,000
Note: Re-registration of a company in the Maldives or Re-registration of a company resident overseas in the Maldives are all free of charge.
More information Upon Request