President Ibrahim Mohamed Solih on Wednesday ratified the second amendment to the Maldives Immigration Act.
The amendment was approved by the People’s Majlis on November 9. 55 lawmakers voted in favour of the change while three abstained.
The legislation 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 USD 250 million in the Maldives or by maintaining the same amount of money for five years in a fixed deposit account in a local bank.
According to the recent 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 country for official business including 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.