Guide to Golden Visa in Maldives: new residency by investment program in 2025

Investment requirements vary dramatically across programs, reflecting the government's dual strategy of maintaining accessibility while attracting substantial capital. The Corporate Resident Visa offers entry at USD 250,000 through fixed deposits or approved projects, rising to USD 1 million for business investments. The new Investor Residency Program substantially raises the bar with USD 1 million minimum for bank deposits or real estate, escalating to USD 50 million for direct investments. Special Economic Zone investments require USD 100 million minimum (reduced from USD 150 million in 2023), offering extended tax holidays and exclusive benefits.

Banking institutions accepting deposits include Bank of Maldives, the dominant financial institution serving 365,000+ customers across 39 branches. Real estate investments focus on government-designated zones with established developers like Soneva (offering villas from USD 3.68 million to USD 13.75 million), Maldives Tourism Development Corporation, and upcoming Henley & Partners projects. All real estate investments operate under leasehold arrangements as foreigners cannot own freehold property except in special economic zones.

Application process emphasizes efficiency and transparency

The application process for the Corporate Resident Visa demonstrates remarkable efficiency with potential same-day processing. Applicants must provide standard documentation including passport copies (minimum six months validity), recent photographs meeting Maldives Immigration standards, travel and health insurance from licensed companies, source of investment documentation, and background checks from all countries of residence. The process begins with online submission through business.egov.mv using an eFaas government account, followed by Registrar of Businesses approval and Controller of Immigration visa issuance within 14 days.

Required supporting documents include audited financial statements for business investments, bank statements verifying deposit amounts and duration, and government approval letters for designated projects. Family members require individual applications with relationship proof. The new programs emphasize enhanced due diligence with stricter background checks, no criminal convictions worldwide, no ongoing prosecutions or investigations, and verification of investment source legitimacy.

Processing timelines remain competitive with 14 days for initial approval plus 14 days for visa processing, totaling approximately one month for complete applications. Renewal applications must be submitted 90 days before expiration, with no fast-track options currently available though some business applications receive same-day processing when complete.

Benefits emphasize strategic location and tax advantages

Maldivian residency offers compelling benefits centered on the country's strategic Indian Ocean location and favorable tax environment. Corporate tax stands at 15% for general businesses (25% for banks) with no personal income tax, no wealth tax, and no inheritance tax confirmed. Special Economic Zone investments享受up to eight years of tax holidays with import duty exemptions for qualifying projects. The country maintains no restrictions on profit repatriation and allows foreign currency operations.

Visa-free travel access ranks modestly with the Maldivian passport holding 53rd-57th position globally, providing access to 93-96 countries and territories. This includes 58 countries with full visa-free access, 27 with visa-on-arrival, and limited Schengen Area access. While the strongest passport in South Asia, it significantly trails Caribbean citizenship programs offering 140-150+ destinations.

Business opportunities concentrate in tourism (contributing USD 3.6 billion in 2023), renewable energy (government targets 33% by 2028), technology and ICT services, financial services, and maritime industries. The government actively promotes foreign investment through Invest Maldives, offering one-stop facilitation services and annual investment forums.

Eligibility criteria maintain high standards

All programs enforce strict eligibility requirements beginning with clean criminal backgrounds. Applicants must have no criminal convictions worldwide, no ongoing prosecutions or investigations, no law enforcement search orders or Interpol notices, and no previous deportation from Maldives. Business investors must maintain minimum 50% Maldivian employment, achieve USD 100,000 minimum annual revenue, and comply with all foreign investment regulations.

The Corporate Resident Visa accepts shareholders, directors, partners, or senior officers of registered foreign investments with valid foreign investment permits. Age restrictions apply only to citizenship applications (minimum 21 years), while residency programs have no specified age limits. Applicants must maintain valid travel and health insurance throughout their residency period.

Notable restrictions include the April 2025 ban on Israeli passport holders and requirements for Muslim faith for eventual citizenship eligibility. The government conducts enhanced due diligence for high-value investments, including source of wealth verification and ongoing compliance monitoring.

Comparison reveals mixed competitive position

The Maldives occupies a unique position in the global residency market, offering faster processing than most competitors but limited benefits compared to Caribbean citizenship programs. Investment thresholds for the basic Corporate Resident Visa (USD 250,000) align with entry-level Caribbean programs like Dominica (USD 200,000) and St. Kitts (USD 250,000), but these offer immediate citizenship rather than just residency.

Processing times excel with same-day potential for Corporate Resident Visas compared to 2-3 months for Vanuatu (fastest citizenship), 4-6 months for St. Kitts, and 6-12 months for other Caribbean programs. However, visa-free travel significantly lags with 93-96 destinations versus 140-150+ for Caribbean passports and extensive Schengen access for European programs.

The new high-value programs (USD 5-50 million) position Maldives alongside ultra-luxury options like Malta (EUR 600,000-750,000) but without EU benefits. Strategic advantages include the strongest passport in South Asia, prime location for Asian business expansion, established tourism infrastructure, and government commitment to program development.

Recent changes signal strategic transformation

The 2024-2025 period marks unprecedented evolution in Maldivian investment migration. The July 1, 2025, Henley & Partners partnership represents the country's most significant program development, bringing global expertise to create a world-class residence by investment framework. The September 2024 launch of the Investor Residency Program shifted focus to ultra-high-net-worth individuals with USD 5-50 million requirements.

Regulatory changes include the April 2025 ban on Israeli passport holders, enhanced due diligence requirements across all programs, and streamlined online application processes through government portals. Economic context shows the government facing a 12.3% GDP fiscal deficit in 2024, driving the push for foreign investment to support 5.5% real GDP growth and record 2.05 million tourist arrivals.

The strategic shift from accessible programs to exclusive high-value offerings reflects Vision 2040 goals to diversify beyond tourism dependency and attract sustainable, long-term investment capital.

Total costs extend beyond government fees

Official government fees remain modest with the Corporate Resident Visa application costing MVR 15,000 (approximately USD 975) plus potential renewal fees. However, total investment costs vary dramatically by program: USD 250,000-1 million for Corporate Resident Visa options, USD 1-50 million for the new Investor Residency Program, and yet-to-be-disclosed amounts for the Henley & Partners program expected to be substantial.

Additional costs include foreign investment administrative fees of USD 2,000, company registration fees starting at USD 156 based on authorized capital, annual company fees of approximately USD 156, and mandatory expatriate medical insurance through Allied Insurance Company worth approximately MVR 100,000 (USD 6,500) annually. Professional services for legal advice, due diligence preparation, and application assistance add unspecified amounts typically ranging from thousands to tens of thousands of dollars for complex applications.

Banking fees for fixed deposits, real estate transaction costs including 16% tourism GST on property purchases, and business setup costs for investment ventures create substantial additional expenses. Due diligence and background check fees vary by nationality and complexity.

Path to permanent residency remains limited

The Maldives offers no formal permanent residency by investment program, maintaining strict limitations on long-term settlement. Marriage to Maldivian citizens provides the primary permanent residency route, while exceptional business investors may receive special consideration on a case-by-case basis. The country does not offer a structured pathway from investment residency to permanent status.

Citizenship through naturalization requires exceptionally demanding criteria including Muslim faith (constitutional requirement), minimum age of 21 years, continuous residency for 12 years with maximum six months absence annually, proficiency in Dhivehi language, and understanding of the Maldivian Constitution. Applicants must maintain clean criminal records with no drug offenses and typically must renounce other citizenships despite Maldives recognizing dual citizenship.

The naturalization process involves application through the Ministry of Foreign Affairs with presidential discretion for final approval. No specific timeline exists, and approval rates remain undisclosed. This creates a significant limitation compared to Caribbean programs offering citizenship within months or European programs with clear 5-7 year pathways.

Real estate investments center on luxury developments

Real estate investment opportunities concentrate in government-designated zones with Soneva leading the market as the first company offering foreign ownership since 2011. Their properties range from USD 3.68 million for modest villas to USD 13.75 million for premium six-bedroom options across Baa Atoll (Soneva Fushi) and Noonu Atoll (Soneva Jani) locations. All properties offer 50-year leaseholds extendable to 99 years with 8-10% historical annual appreciation and villa rental programs generating income.

Government-designated investment zones include Gaafaru Island for luxury residential development, Fushidhiggaru Island approved for the investor residency program, and Ras Mala in Kaafu Atoll near Malé for premium developments. The Maldives Tourism Development Corporation manages nine islands leased for resort development while the Maldives Real Estate Investment Corporation focuses on upmarket residential projects.

Investment regulations mandate leasehold-only arrangements for foreigners except in special economic zones, minimum USD 1 million investments for approved projects, and 16% tourism GST on property purchases. Private island developments start from USD 10 million for exclusive ownership rights. The new Henley & Partners program promises state-of-the-art properties with enhanced privacy and exclusivity in designated zones.

Business sectors prioritize tourism and sustainability

Business investment opportunities reflect the Maldives' economic strengths and development priorities. Tourism dominates as the primary economic driver contributing USD 3.6 billion in 2023, with opportunities in resort development and management, guesthouse operations (limited to 49% foreign ownership), luxury accommodation projects, and marine tourism services. All tourism investments require foreign investment permits and compliance with environmental regulations.

Renewable energy emerges as a government priority with ambitious targets of 33% renewable energy by 2028. Investment opportunities include solar power projects, wind energy installations, and energy storage systems, all benefiting from import duty exemptions for equipment. The technology sector shows growth potential in ICT services and infrastructure, digital payment systems, cryptocurrency-friendly regulations, and telecommunications services expansion.

Special Economic Zones offer the most attractive terms for USD 100 million+ investments in export processing, transportation and transshipment, universities and hospitals, ICT parks, international financial services, and oil and gas exploration. These zones provide extended tax holidays, 100% foreign ownership, and long-term government agreements.

Banking presents mixed accessibility

Banking and financial services for residents center on Bank of Maldives, the dominant institution with 39 branches across all 20 atolls. Expatriate account opening requires a work permit with one month+ validity or valid visa, with online account opening available for existing internet banking customers. Services include USD accounts, global debit cards with USD 750 monthly overseas transaction limits (USD 3,000 for USD account holders), and comprehensive digital banking platforms.

Currency regulations maintain a narrow USD peg at approximately 1 USD = 15.42 MVR with no restrictions on profit repatriation, though banks impose individual processing policies. International transfers support multiple currencies through internet banking, while cash declarations are required for amounts exceeding USD 10,000 at entry. Investment options remain limited to Bank of Maldives shares, five state-owned companies, and select foreign companies on the modest Maldives Stock Exchange.

Financial considerations for investors include mandatory employer-provided health insurance worth approximately USD 6,500 annually, no restrictions on foreign credit access from local banks, and limited sophisticated financial products compared to major financial centers.

Living conditions reveal infrastructure limitations

Living conditions for expatriate families concentrate overwhelmingly in Malé, creating significant lifestyle constraints. Healthcare operates through a two-tier system with Indira Gandhi Memorial Hospital (public) and ADK Private Hospital (private) as the only modern facilities in Malé. Serious medical conditions require evacuation to India or Sri Lanka, while 50+ private clinics provide basic services with shorter wait times but limited capabilities.

International education options remain extremely limited with Villa International High School offering Pearson Edexcel curriculum as the largest option, Ghiyasuddin International School providing Cambridge International programs, and a handful of other schools with British or Cambridge affiliations. All international schools concentrate in Malé with online programs like RISA offering alternatives for older students.

Cost of living ranges from USD 1,700-4,100 monthly depending on lifestyle choices. Housing in Malé costs USD 520-975 monthly for one-bedroom apartments in the city center (USD 292-780 outside), rising to USD 1,300-1,625 for three-bedroom units (USD 975-1,430 outside center). Basic utilities average USD 130-162 monthly while food costs remain reasonable with restaurant meals at USD 2-4 and mid-range dinners for two at USD 13-39. Overall living costs run 29% lower than the US and 25.5% lower than the UK including rent.

Critical challenges demand careful consideration

The Maldives faces existential climate change threats that investors must seriously consider. With 80% of islands less than one meter above sea level, projected sea level rise of 0.5-0.9 meters by 2100 threatens to make 80% of the country uninhabitable by 2050. Current impacts include 90% of islands experiencing severe erosion, 97% lacking fresh groundwater, and 60% of coral reefs affected by bleaching events. Economic projections show potential GDP losses of 2.3% by 2050 and 12.6% by 2100, with USD 2-4 billion required for adaptation measures alone.

Geographic isolation creates practical challenges with 1,192 islands spread across 90,000 square kilometers, making inter-island travel expensive and weather-dependent. Limited infrastructure outside main islands results in varying service quality, complex logistics for service provision, and concentrated development in Malé creating congestion and limited housing options.

Religious and social restrictions require careful consideration. Public observance of any religion except Islam is prohibited with no religious gatherings permitted except for Islamic worship. The April 2025 ban on Israeli passport holders reflects growing political positions, while permanent residency remains extremely limited mostly to ultra-high-value investments. Work permits face strict requirements and property ownership remains restricted to leasehold arrangements.

Official government contacts provide direct access

Key government authorities managing investment programs include the Ministry of Economic Development and Trade at 11th Floor, Velaanaage Building, Ameer Ahmed Magu, Malé 20096, handling investment approvals and foreign investment licensing through the business.egov.mv portal. Maldives Immigration operates through immigration.gov.mv with offices in Malé, Hithadhoo, Fuvahmulah, and Kulhudhuffushi, managing visa services through the IMUGA platform.

Invest Maldives serves as the lead investment promotion agency providing one-stop facilitation services and hosting annual investment forums. The Registrar of Businesses grants Corporate Resident Visa approvals through the integrated OneGov system. Supporting agencies include the Maldives Fund Management Corporation for capital market solutions, SME Development Finance Corporation for local business financing, Maldives Monetary Authority for financial regulation, and Capital Market Development Authority for securities oversight.

Private sector support comes from the Maldives National Chamber of Commerce and Industry promoting trade and investment, Maldives Association of Tourism Industry representing the dominant economic sector, and Maldives Association of Construction Industry advocating for development interests. International advisors like Henley & Partners now play an official role in program development with established firms like HSBC, Ernst & Young, PwC, and KPMG maintaining presence for professional services.

Investment migration transforms Maldivian economic strategy

The Maldives has fundamentally restructured its approach to investment migration, moving from basic visa programs to sophisticated residence by investment frameworks targeting ultra-high-net-worth individuals. This transformation reflects urgent economic needs to diversify beyond tourism dependency while leveraging the country's strategic location and natural assets. Success depends on balancing accessibility with exclusivity, managing climate change risks, and developing infrastructure to support investor expectations. The partnership with Henley & Partners signals serious commitment to competing globally for investment capital, though significant challenges remain in delivering the lifestyle and security that ultra-wealthy investors demand.