About Maldives Citizenship and Residency
The Corporate Resident Maldives, a special investor scheme, introduced by the Government of Maldives, recognizes the contribution of foreign investors and their investments to the development of Maldives.
The Corporate Resident Visa (CR Visa) issued under the Corporate Resident Maldives scheme, will provide superior services to investors at the point of entry into the country, while the Corporate Resident Card will guarantee streamlined and hassle-free services, during their stay in Maldives and in conducting business operations.
- CRV will be issued for a 5-year period
- If there are any changes to your passport after the issuance of a Corporate Resident Visa, you are required to notify the Ministry through the Business Portal within 7 days from the date of the change
- If you wish to renew your visa, you are required to submit a renewal application 90 days prior to the date of expiry
Any individual wishing to become a Maldivian national must file a handwritten request to the Foreign Ministry if they meet the essential criteria such as:
- The religion they follow is Islam,
- The candidate is mentally stable,
- They are older than 21,
- The applicant has been raised in the Maldives for more than 12 years,
- They have a thorough understanding of Maldivian Law,
- They can write and speak in Dhivehi.
The Maldives government recognizes dual citizenship. If a Maldivian national applies for citizenship in another country, they do not have to give up their Maldivian citizenship.
Corporate Resident Visa
- suitable for eligible investors who wish to remain in Maldives for a longer period.
- The Corporate Resident Visa (CR Visa) issued under the Corporate Resident Maldives scheme, will provide superior services to investors at the point of entry into the country, while the Corporate Resident Card will guarantee streamlined and hassle-free services, during their stay in Maldives and in conducting business operations.
- Shareholder or Director or Partner or Senior Management personnel of an existing Foreign Investment registered under Law no. 25/79 (Maldives Foreign Investment Act) that meets the requirements stipulated in Section 5 (a) – (h) of Regulation no. 2021/R-115 (Regulation on Corporate Resident Visa), who is not employed in the Maldives or a family member of the eligible person referred here.
- The applicant shall ensure that they have invested USD 1,000,000 within the past 3 financial years (should be verifiable from the audited financial statements)
- Has retained 50% local full-time employees.
- An investor who maintains a Fixed Deposit of US$ 250,000 for a period of 5 years in a bank account in the Maldives.
- An investor who has invested US$ 250,000 in a business/project determined by the Government of Maldives
- Have not violated the Foreign Investment Agreement
- Not be blacklisted under the employment regulations on foreign nationals.
The CR Visa and the Corporate Resident Card are issued to the following qualifying foreign investments and investors.
- The Investor.
- Investor’s spouse and dependents under 18 years of age.
- Board Directors and nominated 5 Executives of any listed company.
- Shareholders and Board Directors of non-listed companies registered in Maldives.
- Partners in a Partnership, registered in Maldives.
Foreign investors who desire to join the Corporate Resident Maldives scheme, are invited to submit the application form and the supporting documents stated in the form to the designated Ministry, as follows.
Tourism-related investors shall submit the application to the Ministry of Tourism.
For Non-tourism related investments, all applications shall be lodged with the Ministry of Economic Development.
Benefits Of The Maldives Residency by Investment
Investors who qualify as a Corporate Resident Maldives are entitled to the following benefits and privileges;
- An exclusive Corporate Resident Maldives card to access privileged services.
- Zero duty levied on land vehicles or marine vessels imported to Maldives for personal use.
- Free access to the airport VIP lounge.
- Allowed to employ foreign employees in the household.
- Residency visa and benefits for investor, investor’s spouse and dependents under 18 years of age for the duration of the CR Visa.
- Fast track services from all government authorities and state-owned companies.
- No restrictions on the repatriation of profits and capital proceeds.
- Freedom to use foreign managerial, technical and unskilled workers.
- Allows for the availability of international arbitration in dispute settlement.
Maldives Residency Requirements and Qualifications
- Must not be convicted of a criminal offense anywhere in the world;
- Must not be subjected to any prosecution or investigation of a criminal offense;
- Must not be under a search order by law enforcement authorities due to a domestic violence offense or any such offense;
- Must not be subjected to an Interpol notice or arrest warrant; and
- Must not have been deported from the Maldives in the past.
- Declaration (You are required to upload a signed declaration page to complete the application)
- Passport Copy (Color Copy of the Bio data page of passport. Passport shall remain valid for more than 6 months)
- Photo of the individual (Color Photo that complies with the photo requirements set out by Maldives Immigration – Photo Standards | Maldives Immigration)
- Travel and Health Insurance (Travel and Health Insurance issued by a licensed insurance company or an insurance company licensed in the Republic of Maldives)
- Source of Investment (Document identifying and confirming the source of investment eg. A letter indicating that the entity meets the investment requirement based on the Audited Financial Statements or Bank statement of the applicant or Letter from the Government of Maldives issued to the applicant or Other Supporting Document)
- Board Resolution (If the applicant is eligible as a Senior Management Personnel, Board Resolution determines the senior positions of the entity)
- If the applicant is requesting to qualify under an existing Foreign Investment, a declaration from the authorized Director/ Manager confirming that the business continues to operate with 50% local full-time employees.
- Copy of Latest Entry Stamp into the Maldives (If the applicant has previously been granted an entry visa into the Maldives)
Steps And Timeline
An eligible applicant may lodge the application via the prescribed form through the business portal (https://business.egov.mv/).
The application must accompany (and will not be considered complete unless the application is supported by) relevant documents including the completed application form, personal declaration, and copy of the biodata page of the passport which has at least 6 months to expire.
All successful applicants will get the approval of the Registrar of Business within 14 days of submission. An application for a visa must be made to Maldives Immigration within 14 days of this approval. A visa fee of MVR15,000 would be payable to process the visa.
The visa will be issued for a period of 5 years. It can be renewed 90 days prior to its expiration if needed.
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