Maldives at a Glance

6.4%

GDP growth rate for 2016

7%

Average GDP growth rate

$275 - $6,722

Increase in GDP per capita between 1980-2013

341,256

Total population

90,000 sq km

Total area

895,000 sq km

EEZ (1192 islands, 20 atolls, 198 inhabited islands, 112 tourist resorts)

USD 1 = MVR 15.42

Exchange rate +/- 20%

USD 1.99 bn

Total imports

USD 300.9 mn

Total exports

$712.15 million

Gross international reserves
as at June 2015

1.2 mn

Total tourist arrivals in 2014

  • Special Economic Zones (SEZ)

    REGIME GOVERNED UNDER THE SEZ LAW

  • Special Economic Zones (SEZ)

    REGIME GOVERNED UNDER THE SEZ LAW

  • Special Economic Zones (SEZ)

    REGIME GOVERNED UNDER THE SEZ LAW

The Special Economic Zones framework provides special economic incentives and introduces a flexible regulatory environment for mega investments of strategic significance to the country. The framework also provides strong protection for developers as well as investors in special economic zones.

Incentives for developers and investors are either guaranteed by law, or open for negotiation during the process of granting the permit to the master developer.

INCENTIVES GUARANTEED BY LAW

For the first decade of operation exemption from:

  • Import duties for materials imported for development, management and operation of the zone
  • Business Profit Tax (BPT)
  • Goods and Sales Tax (GST)
  • Additional tax relief and tax credits under specific regulations

INCENTIVES UPON NEGOTIATION INCLUDE:

  • BPT and GST exemptions beyond the first ten years
  • Exemption from taxes in the sale and purchase of land

Provisions are also included in the law for SEZ residency arrangements and ownership of land.

Foreign direct investment is the fundamental force driving my Government's economic agenda. The Government of Maldives is committed to provide the optimum policy and statutory environment for doing business in the Maldives

His Excellency President

ABDULLA YAMEEN ABDUL GAYOOM

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STABLE ECONOMIC GROWTH

With a steady growth rate averaging 7% per year over the past 20 years, the country continues to develop at a steady pace and remains economically resilient.

Maldives is committed to further diversifying its economy by facilitating investment in targeted sectors.

SOPHISTICATED COMMUNICATION NETWORKS

The Maldives is covered with an advanced telecommunications and ICT grid which ensures uninterrupted connectivity at all times for businesses.

  • Mobile subscriptions at over 700,000
  • Mobile penetration of over 200% (among top in the world)
  • Rapidly expanding mobile broadband capability, with 3G+ throughout country
  • Up to 100 Mbps in population centers

EASY ACCESS

Maldives’ physical infrastructure is geared for future economic diversification.

The country has a developing marine transport system including 3 commercial ports and a maritime public transport network which spans the entire country.

The extensive air transport network which includes 4 international airports and 6 regional airports, provides easy access to the islands across the country, and to the world with direct flight links to all major countries.

In addition, the Maldives has the largest seaplane fleet in the world providing unhindered access to the luxury resorts.

STRATEGIC LOCATION

The Maldives is at a strategic geographical location in the heart of the Indian Ocean and at the crossroads between the East and the West.

Maldives has tremendous potential to become the point where East meets West, by connecting to the Indian Ocean maritime transport routes and capitalizing on the growing transshipment traffic. Maldives has access to over 30 major cities of the world within 5 hours of flight time.

Invest Maldives

The Invest Maldives Magazine covers a variety of projects across sectors such as renewable energy, waste and water management, finance and real­estate. The government is also seeking solutions for transportation services within the atolls of the country through possible partnership options with private investors. With information on these projects and the project developers, this magazine is the most up­to­date resource on the current investment opportunities available in the Maldives.

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Doing Business In Maldives

The Doing Business guide aims to provide an introductory overview of the business environment of Maldives and help the investors get their businesses started. The guide provides the reader with an overview of the legal and regulatory matters relating to matters relating to doing business in the Maldives.

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Doing Business In Maldives

[Chinese Version]

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BUREAUCRACY-FREE REGULATORY FRAMEWORK

Maldives has always advocated free enterprise. Pro-market policies are strongly embedded in the government’s economic vision which promotes a liberal and transparent trading and commercial environment.

Investors are supported by bureaucracy-free regulatory and legal frameworks - one of the most streamlined in the region.

INCENTIVES FOR BUSINESS

Foreign investors in the country can enjoy the benefits of*:

  • Right to 100% foreign ownership of the investment.
  • Provision for overseas arbitration of disputes and enforcement of foreign arbitral awards.
  • Long leases of land for up to 99 years
  • Flexibility to use foreign managerial, technical and unskilled workers
  • No foreign exchange restrictions
  • No restrictions on the repatriation of earnings or profits
  • Invest Maldives as a one-stop shop serving all business requirements of investors