The Foreign Investment Act (25/1979), governs the formation, registration and operation of all Foreign Investments in the Maldives.
All foreign investments have to be approved either by the Ministry of Economic Development, except for tourism sector investments which have to be approved by the Ministry of Tourism, Arts and Culture. All foreign nationals investing in tourism sector shall sign an agreement with the Ministry of Tourism. Similarly those investing in all other sectors shall sign an agreement with the Ministry of Economic Development.
The law on foreign investments guarantees the security of investments, and ensures the following;
- No Foreign Exchange Restrictions
- No restrictions on the repatriation of earnings and capital proceeds
- Right to 100% foreign ownership