Discover the benefits of investing in the Maldives
Why Invest in Maldives?
Over the past two decades, the Maldives has experienced consistent development and maintained economic resilience despite global shocks. The government's pro-market policies have fostered a strong, transparent, and liberal trading environment, aligning with its vision for a robust economy. As part of its commitment to economic stability, the government has implemented various policies that create appealing prospects for foreign investors.
The Maldives
Time
+5
GMT
Currency
MVR
Maldivian Rufiya
Population
0
Area
0
Sq km
Maldives is a go-to destination for entrepreneurs and investors to do business in the most pristine natural setting.
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The Maldives is a chain of coral atolls in the Indian Ocean, straddling the equator. The nation comprises over 1,190 coral islands grouped into 26 natural atolls, spanning approximately 90,000 square kilometers. These atolls and their islands are encircled by protective reefs, home to some of the world's most breathtaking underwater life.
The population is dispersed across the atolls, with inhabitants residing on 188 islands. Around 170 islands have been developed into tourist resorts, with many more under development. The remaining islands are either uninhabited or used for industrial and agricultural purposes.
Why Invest in the Maldives
Over the past two decades, the Maldives has experienced consistent development and maintained economic resilience despite global shocks.
Learn More
The government's pro-market policies have fostered a strong, transparent, and liberal trading environment, aligning with its vision for a robust economy. As part of its commitment to economic stability, the government has implemented various policies that create appealing prospects for foreign investors.
Incentives for Investors
- Unified business registration services though Invest Maldives
- No restrictions on repatriation of profits and capital proceeds
- Customs duty exemptions for large scale projects
- Easy entry by obtaining Business Visa or Corporate Resident Visa
- Freedom to use foreign managerial, technical and unskilled workers
- Allows for the availability of international arbitration in dispute settlement
- No foreign exchange restrictions
- Long leases of land for up to 99 years
Impressive Economic Performance
Maldives has experienced significant economic growth and infrastructure development. The Maldives GDP in 2022 stood at US$ 6.19 billion, with a per capita GDP of US$ 10,965. The economy is projected to grow by 4.7% over the medium term, driven primarily by the tourism sector. This growth outlook is supported by protective fiscal adjustments, including subsidy reforms and a broader role for the private sector.
With growth in construction and tourism, the outlook for 2024 and 2025 is positive, with the economy expected to expand by 5.4% in 2024. The government has prioritized promoting and expanding tourism, aiming to open new resorts this year and complete the Velana International Airport passenger terminal by Q4 2024 to accommodate higher tourist arrivals. The robust tourism sector will also drive growth in related industries, such as transportation and communication, and wholesale and retail trade, further strengthening private consumption.
Liberal pro-business policies
The government's pro-market policies create a robust, transparent trading and investment environment, aligning with their economic vision. These policies provide attractive incentives and opportunities for foreign investors, contributing to the government's goal of establishing a strong and stable economy.
Economic diversification
The Maldives is dedicated to diversifying its economy by promoting investment in specific sectors like construction, agribusiness, transport, energy, and finance. With its unique characteristics, the Maldives offers substantial economic prospects. The country's location, beauty, infrastructure, and human capital present opportunities for investing in innovative technologies and solutions across various sectors to fully utilize its economic advantages.
An educated tech-savvy workforce
Out of the total population of 515,132 in the Maldives, 25% are expatriates residing and working there. Since the late 1990s, the Maldives has consistently maintained a high adult literacy rate of over 98%. Universal primary education was accomplished in 2002, with no notable gender inequality. With the highest mobile internet usage in South Asia, 63% of the population and 60% of households in the Maldives accessed the internet in 2019. The country is home to a young and technologically proficient population that is open to embracing new technologies and facing new challenges.
Ease of doing business
Significant progress has been achieved in enhancing the business environment of the country. Revisions in laws, regulations, and streamlined procedures have simplified the registration and operation processes for foreign investments. These changes aim to provide clarity, security, convenience, and efficiency to investors interested in investing in the Maldives.
Business Friendly Legal Framework
The Maldives continues to enhance its business environment by focusing on improving the ease of doing business in the country.
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As part of this process, several steps have been implemented to streamline the formalities and procedures for registering and operating foreign investments, thereby creating greater accessibility for global investors. These legal and regulatory changes are designed to offer clarity, security, and convenience, ensuring a smooth and efficient experience for those looking to invest in the Maldives.
Foreign investors have a variety of avenues to engage with the Maldives' dynamic economy. The open Foreign Direct Investment (FDI) framework allows 100% foreign shareholding in many economic sectors, providing flexibility and control. Additionally, the Maldives offers a host of incentives, making it an attractive destination for businesses seeking to establish or expand their operations.
Whether through standard FDI channels, innovative private sector proposals, or participation in Special Economic Zones, the Maldives is committed to providing a business-friendly legal framework that supports growth, innovation, and long-term success.
Incentives for Investors
Unified business registration service through Invest Maldives
Public Private Partnership Program
Investment Programs for Foreign Portfolio Investors
Long leases of land for up to 99 years
Customs duty exemptions for large scale projects
Easy entry by obtaining Business Visa or Corporate Resident Visa
Freedom to use foreign managerial, technical and unskilled workers
No foreign exchange restrictions
No restrictions on repatriation of profits and capital proceeds
Allows for the availability of international arbitration in dispute settlement
Strategic Location
Owing to its central location, the Maldives gains strategic importance in the Indian Ocean through critical sea lanes of communication and trade cutting through its territory.
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Over 70,000 cargo ships pass through this region every year. The value of goods transported is estimated to be US$ 18 trillion per annum. By connecting to the Indian Ocean maritime transport routes and capitalizing on the growing transshipment traffic, Maldives has tremendous potential to become a key highway for global trade and energy flows.
International Connectivity
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International Airports
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Domestic Airports
World’s largest seaplane fleet
Lying at the crossroads of East and West, the Maldives plays a strategically important role with global market access to more than 30 major cities of the world within 5 hours by air.
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It is just one hour away from Colombo and Trivandrum, India and approximately four hours from Singapore, Kuala Lumpur and Dubai. Five international airports operate daily flights to different parts of the world, and several domestic airports along the length of the country offer easy accessibility to all parts of the country.
Expansion of Velana International Airport – the main gateway to Maldives
International Passenger Terminal
- 78,000 sqm of floor space
- 7 million passengers / year
- 9000 sqm of luxury duty free boutiques & F&B outlets
- 14 international air traffic movements, 1700 arriving passengers, 1600 departure passengers per hour.
Runway
- Length: 3400 meters
- Width: 60 meters
- Can accommodate Airbus A380
Seaplane Terminal
- 28,000 square meters of floor space.
- Capacity to process 500 passengers per hour
- 45 docking stands
Cargo Terminal
- Floor area of 18,000 sqm
- Capacity to handle 120,000 tons of cargo per year.
Inter-island connectivity
Domestic Airlines
Seaplane Transport
High Speed Ferry Network
Comprehensive Marine Transport Network
Domestic Air Transport
The Maldives’ physical infrastructure is geared for future economic diversification. The country has a developing transport network including nationwide ferry services for inter-atoll and intra-atoll connectivity; and bus services for efficient internal transport within islands. Initiated by the Raajje Transport Link brand, fast, reliable, efficient, affordable, and sustainable transport system provides mobility from each and every zone from north to south. Furthermore, privately operated speedboat services and private speed ferries also operate scheduled trips to islands and airports.
Seaplane Transport
The Maldives is also home to the largest seaplane fleet in the world. Well-organized and scheduled seaplane operations provide efficient and convenient transfers to resort islands outside Male’ atoll.
Marine Transport
The inhabited islands of the country are connected by inter-atoll and intra-atoll public ferry services and by privately operated speedboat services. Private speed ferries also operate scheduled trips to islands in Male’ Atoll directly from the Velana International Airport. The RTL network offers high speed marine transport between the islands and atolls with daily schedules.
Resilient Economy
USD 11,100
Nominal GDP Per Capita
2023
2.93
Inflation
2023
7.74%
Average Real GDP growth
2014-2023
The Maldives economy rests on secure economic foundations.
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GDP Growth (2014 - 2023)
Despite the 2004 Indian Ocean Tsunami and the 2008-2009 financial crisis that severely affected the tourism sector and the wider economic activities, Maldives continued to expand its per capita GDP to become an upper-middle income country in 2010 and to graduate from the UN list of least developed countries in 2012. In 2020, Maldives became one of the hardest hit countries from the global Covid-19 pandemic. Albeit the economic slowdown that followed, the Maldivian economy observed a robust recovery in 2021 with a staggering 32% in economic output. Despite the closing of key markets, the Maldivian tourism sector managed to diversify its source markets and maintain the momentum in the following years.
Although the Maldives lacks natural resources and scale economies enjoyed by other countries in the region, our economy has surpassed all South Asian countries to achieve the highest income per capita from the region. The Maldives is committed to further diversifying its economy by facilitating investment in targeted sectors with greater resilience to external shocks.
Dynamic Workforce
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Adult Literacy Rate
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Secondary Enrolment
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Labor Force Participation
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Mobile Usage
With a population of just over half a million, Maldives has an educated, tech-savvy workforce ready to take on challenges in industries that are already present and beginning to take root.
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The country’s youth population (18-34 years) comprises of a large portion of the labor force, accounting for around 50% of the country’s labor force. Out of the total youth population, 53% are females and 47% are males. More than 35 percent (female 36 percent; male 35 percent) of Maldives’ population are young people aged 15-35 preparing to enter the workforce.
The Maldivian Government is committed to diversifying the economy by accelerating human capital accumulation, increasing employment opportunities for young people, and promoting equitable economic progress. To achieve these goals, the government emphasizes entrepreneurship programs, as well as upskilling and reskilling through technical and vocational training. These initiatives are designed to enhance participation in key sectors such as tourism, tourism-related industries, construction, information and communications technology, and agriculture. Moreover, the bilingual education policy that has been in place for the last several decades has fostered widespread proficiency in English, equipping the workforce with essential language skills for international business.
Advanced Digital Connectivity
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4G Coverage
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Mobile subscriber penetration
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