Tourism investment in the Maldives sits within both the general foreign-investment regime and a separate sector-specific tourism framework. The Foreign Investment Act 2024 replaced the earlier 1979 regime and introduced a formal approval and licensing structure for foreign investments. The process described in current legal guidance moves from the foreign-investment application to a no-objection stage, issuance of the foreign-investment licence, and execution of a foreign-investment agreement.
Foreign investment
Choose the investment vehicle
The investor’s vehicle matters. Foreign individuals, foreign companies, Maldivian companies with foreign shareholders, re-registered foreign companies, partnerships and joint ventures can fall within the permitted investment structures. The applicable ownership limits, minimum investment and other conditions depend on the business activity and the sector classification in force at the time of application.
Align the tourism approvals
Tourism adds another layer. Resort development and operation are regulated under the Tourism Act and subordinate regulations, with Ministry of Tourism approvals and licences required for the underlying tourism project. A foreign investor acquiring or developing a resort should therefore align the investment licence, corporate structure, lease rights, tourism approvals and financing from the outset.
Structure entry before committing funds
The practical point is that “foreign investment approval” is not a substitute for sector approvals. We structure the entry route so the investor, project company, lease rights and operating permissions fit together before funds are committed.
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