Minister of Economic Development Fayyaz Ismail has announced the decision to facilitate corporate resident visas for representatives of foreign investors. The decision was announced following concerns raised at the Annual General Meeting (AGM) of Maldives Association of Tourism Industry (MATI).
During the AGM, members of MATI noted investors are able to come to the Maldives easily under corporate resident visas. However, they said a similar arrangement has not been provided for individuals representing investors.
Speaking to PSM News, Economic Minister Fayyaz said the government has no issues in extending corporate resident visas to investor representatives. Noting this is the first time the concern has been raised by the tourism industry, the minister said the government will bring the necessary changes to facilitate corporate resident visas for investor representatives.
The corporate resident visa is currently extended to individuals who have invested a minimum specified amount in the Maldives. The government is working on boosting foreign investments in the country.