Corporate Resident Visa

The Corporate Resident Visa is a 5-year renewable residence permit for foreign nationals who invest in the Maldives. Introduced by the Second Amendment to the Maldives Immigration Act (ratified November 2020) and governed by Regulation No. 2021/R-115 (effective August 2021), the program is administered by the Registrar of Businesses under the Ministry of Economic Development and Trade. It is self-sponsored and does not tie holders to a specific employer.

There are three qualifying investor categories:

• Category 1 — Foreign Investment Enterprise Officers: Shareholders, directors, partners, or senior officers of a registered foreign investment enterprise. The business must hold a valid foreign investment permit, employ at least 50% Maldivian full-time staff, and have generated USD 100,000 in annual revenue in at least one of the last three financial years.
• Category 2 — Fixed Deposit: Maintain a minimum USD 250,000 fixed deposit at a Maldivian bank for the full 5-year period.
• Category 3 — Government-Approved Investment: Invest USD 250,000 in a business or project designated by the Government of Maldives.

• Minimum age of 18 years
• Fall within one of the three investor categories above
• Valid travel and health insurance covering the Maldives throughout the residency period
• Clean background: no criminal convictions worldwide, no ongoing criminal prosecution, no domestic violence or law enforcement orders, no Interpol notices or arrest warrants, and not previously deported from the Maldives
• Category 1 applicants must remain among the company's five senior staff members and maintain ongoing compliance with the Foreign Investment Agreement and the 50% Maldivian staffing requirement

• Completed application form and personal declaration
• Passport biodata page copy (minimum 6 months validity)
• Recent photographs meeting Maldives Immigration standards
• Valid travel and health insurance from licensed companies
• Source of investment documentation
• Category 1: audited financial statements, valid foreign investment permit, and proof of business registration under Law No. 25/79
• Category 2: bank statement from a Maldivian bank confirming the USD 250,000 fixed deposit
• Category 3: government approval letter for the designated project and investment documentation

The visa is valid for 5 years and is renewable. Renewal applications may be submitted up to 90 days before visa expiration through the Registrar of Businesses. The Corporate Resident Visa does not provide a pathway to permanent residency or citizenship — Maldivian citizenship requires naturalisation and acceptance of Islam as required by the Constitution.

Parents, spouses, children, grandparents, and grandchildren of qualifying applicants (Categories 1–3) may apply under Category 4 and receive the same 5-year renewable visa. Each family member must submit a separate application, pay the MVR 15,000 processing fee, and satisfy the same background check requirements.

The Maldives levies no personal income tax on individuals. Under the Income Tax Act (Law No. 25/2019), temporary residents — foreigners who stay 183 days or more and are not married to a Maldivian — are taxed only on Maldives-sourced income. There is no capital gains tax or inheritance tax. A 10% non-resident withholding tax applies to payments made by Maldivian businesses to non-residents (5% for non-resident contractors). Visa holders staying 183 days or more must file tax returns on any Maldives-sourced income.

1. Create an eFaas account at efaas.egov.mv (can be done from abroad).
2. Submit via the Maldives Business Portal (business.egov.mv): complete the application form, upload supporting documents, and pay the MVR 15,000 (approximately USD 975) processing fee.
3. Registrar of Businesses review: approval is issued within 14 days of submission.
4. Immigration visa issuance: within 14 days of the Registrar's approval, applicants must apply to Maldives Immigration. The Controller of Immigration issues the visa with no additional conditions.

Late applications — even by one day — are treated as overstays and may result in fines or deportation, so applicants should apply for renewals well in advance.