ITT is perfectly suited to assist interested partners and investors in making decisions on investment to the Tourism industry in Maldives.

The Maldives has a strong record of political stability and a well put transparent investment policy in place. These islands are a haven for tourism investment and deliver strong ties to Europe and the Commonwealth. We are a rising economy with advances in communications technology, law and education. The Maldives was named the Most Romantic Destination In the 2007 World Travel Awards and has been featured in numerous other Trade and Travel Forums.

The law of foreign investment (25/79) guarantees security in investment. A young trainable and diligent workforce further commits a stable business environment proven by several foreign investments already existing in the archipelago.

Direct investment in Tourism is encouraged and is not limited to establishment of tourist resorts, harbors, marine based industries and other travel related ventures.

There is also scope for the development of real estate on residential islands for foreigners and development of accommodation on time sharing schemes.

Maldivian businesses like to develop good working relationships with their foreign partners and encourage local representation. Incentives are offered under Trade and Investment regulations and include, exemption of income taxes,  corporate and property taxes. Exemption of import duty on raw materials, right to ownership (with start-up investments of 75% foreign- 25%local) . Legally backed investment guarantees, Freedom to repatriate profits and capital proceeds, Long term lease of land for large-scale projects, Freedom to use foreign, managerial, skilled and unskilled workers and exemption of exchange restrictions.

The Law clearly stipulates;

Foreign investors are encouraged sometimes to take 100% ownership of certain venture provided that they are registered with the Ministry of Trade and Industries with proper contracted agreements in place and the business is secured with local representation.

Besides incentives mentioned above several other areas are also available for setting up of business with sector specific incentives available in fisheries, banking and financial, transport and communications, infrastructure and real estate, information technology, shipping and transportation. It is important to seek advice from your local consultants and business partner regarding the set-up and establishment of ventures. For further investment related information please log on to the Foreign Investment Services Bureau website at http://www.maldivesplanner.com

Representatives are encouraged to visit the market for a transparent study of the business and establishment of solid business relationships.

Relevant laws governing foreign investment in the Maldives include:

Travel Agents, Tourism Bureaus and Airlines are welcome to seek local representation through ITT, by establishing information desks, meet-and-greet services and outbound operations. ITT gives foreign agents the opportunity to seek allotments from leading resort and hotel properties securing rooms throughout peak and off-peak periods.

Familiarization Tours are available for all properties available through ITT. Please make a request for interested resorts or cruises and we will make sure that proper visits are arranged beforehand.

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