The Maldives has recorded a substantial increase in revenue from foreign investment registration fees, coinciding with a comprehensive overhaul of its investment legislation and renewed efforts to attract targeted international capital.
Data released by the Maldives Inland Revenue Authority (MIRA) show that the state collected USD 84,758.37 in foreign investment registration fees by the end of September, an increase of USD 39,922.12 compared with the same period last year, when revenue totalled USD 44,831.20.
This rise reflects a corresponding increase in the number of foreign investments registered. Under the prevailing administrative fee structure, which sets the registration fee at USD 5,000 per investment, MIRA statistics confirmed that 15 foreign investments have been recorded to date, generating USD 75,918 in fees.
The growth aligns with policy measures introduced by the administration of President Dr Mohamed Muizzu to position the country as a competitive and secure destination for foreign capital. Central to this strategy was the ratification of a revised Foreign Investment Act, replacing legislation previously regarded as outdated and misaligned with contemporary economic priorities.
The updated law introduces calibrated restrictions designed to safeguard domestic economic interests and promote national capacity-building. Several sectors have been reserved exclusively for Maldivian entities, including wholesale and retail trade, logistics, general sea transport services, bunkering operations, construction projects valued below USD 15 million, and real estate developments under USD 100 million.
To attract high-value capital, the government has also announced a residency-by-investment programme. The scheme will offer residency visas to individuals whose investments are deemed to deliver substantial benefit to the Maldivian economy.
Government officials anticipate that the combined effect of regulatory reform and strategic incentives will continue to drive foreign capital inflows in the months ahead, reinforcing the country's standing as a destination of choice for international investment.