President Ibrahim Mohamed Solih has today ratified the second amendment to the Maldives Immigration Act (Law No. 01/2007). The legislation was passed by the People’s Majlis at the 15th sitting of its third session this year, on November 9 2020. The amendment introduces two additional visa options for foreigners travelling to the Maldives: Co-operate Resident Visa and Meeting Visa.
Co-operate Resident Visa is a permit issued to foreigners who have invested over $250,000 (Two Hundred and Fifty thousand U.S. Dollars) in the Maldives or by maintaining the same amount of money for five years in a fixed deposit account in a Maldivian bank. According to the amendment, shareholders and partners of companies registered and operating in the Maldives may acquire a Corporate Resident Visa for themselves and their families under the established rules and regulations.
The Meeting Visa is a short-duration permit under which foreigners may visit the Maldives for professional reasons. This may include attending a business conference, professional convention or a meeting approved by a government agency. Meeting Visa would be issued according to the guidelines defined by the Registrar of Businesses.