The Maldives Government and MBS Global Investments are to create an US$8.8bn Maldives International Financial Centre (MIFC) - a wholly sustainable, Financial Freezone in Malé, Maldives, designed for and created to attract global financial institutions, fintech pioneers, and global digital Nomads.
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Allowing the Maldives to diversify beyond tourism, it will attract the future of finance and position Malé as the premier global business and financial hub in the Indian Ocean through an integrated, mixed-use urban district.
MIFC will offer no corporate tax, tax-free inheritance, ownership as per the constitution of the Maldives, and privacy.
Combined with no residency requirements, it's set to attract digital nomads, entrepreneurs, and wealth creators seeking freedom without borders.
Residents will benefit from multi-currency banking and access to offshore private banking.
Future-ready regulations will support digital assets, and green finance - making MIFC not just a financial hub, but a destination for those investing in the legacy of future generations.
Due to be completed by 2030, it will be easily accessible from any part of the world and the aim is to notably increase the country's GDP within four years with projected revenue to be well over US $1bn by the fifth year.
The centrepiece of MIFC is a state-of-the-art conference centre with capacity for 3,500 people.
The multi-purpose convention venue will host leading global conferences, cultural events and innovation-driven hackathons establishing Male as leading assembly hub, driving all year round engagement in the Maldives and further supporting the wider, already established hospitality industry.
The plan includes three iconic residential and office towers designed for international HQs and regional offices, high-end, sea front branded residences, world-renowned hotel brands, vibrant and one-of-a-kind retail experience, Oceanographic Museum, Mosque, and leading education facilities including an International School.
President Dr Mohamed Muizzu said, "With the MIFC, we are shaping the Maldives of tomorrow, a beacon of innovation and national pride that will thrive in harmony with nature. The financial centre will be a symbol of economic resilience and will set a new global benchmark that will massively benefit the people of the Maldives for generations to come."
MIFC will have a fully climate-resilient infrastructure, and the architecture and public spaces will be powered exclusively by renewable energy.
The upper level of the development will be entirely car-free, with all transport and logistics infrastructure located underground to preserve a pedestrian-friendly, open-air environment.
It will offer a holistic lifestyle rooted in wellness and longevity - designed to be one of the most desirable places to live and work.
It will feature world-class sports facilities, cutting-edge longevity and wellness centres, and shaded running and cycling tracks woven through expansive green spaces.
Complementing its state-of-the-art office spaces, MIFC will also be home to premium retail, celebrated F&B destinations, and dynamic cultural venues - creating a truly integrated live-work-play environment. ■
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