Maldives should become a tax paradise for fintech and crypto
In search of new business branches away from dominating tourism, the falling holiday paradise of the Maldives came up with a new idea: fintech. The government of the Maldives and MBS Global Investments have announced an ambitious major project: With an investment of $ 8.8 billion, the Maldives International Financial Center (MIFC) is to be created-a sustainably designed financial free zone in the capital, which is to be completed by 2030.
MBS Global Investments is the company of Sheikh Nayef bin Eid Al Thani, a member of the royal family of Qatar. In addition to real estate and consulting, MBS also specializes in AI technology.
The aim is to make the Maldives or Malé a hub for Fintech and Blockchain companies as well as all companies that have a lot of money to do. You should attract clear tax advantages. “With the MiFC we shape the future of the Maldives. It will be a lighthouse of the innovation and national pride that will thrive in harmony with nature. The financial center will be a symbol of economic resilience and set a new global scale, from which people in the Maldives will benefit massively over generations,” says an official statement by the President of Mohad Muizzu.
Tax incentives as a core strategy
The concept relies on significant tax advantages to attract international financial institutions, fintech companies and digital nomads. The planned tax advantages include:
- No corporation tax
- Tax -free inheritances
- Constitutionally guaranteed property rights
- Comprehensive data protection
- No duty to live
Local companies should also benefit from multi-currency banking and access to offshore-private banking. The regulations will be specifically geared towards digital assets and green finance. On the official website All trend terms from the crypto world can be found, including stable coins, defi, tokenization or smart contracts.
Target groups and economic expectations
The MIFC is targeted:
- International financial institutions
- FinTech company and pioneers
- Digital nomads and independent entrepreneurs
- Asset manager and investors
The government expects the project to significantly increase the country GDP within four years. The forecast income is expected to exceed the brand of $ 1 billion in the fifth year.
Infrastructure and investments
The $ 8.8 billion flow into numerous construction projects on a total area of 780,000 square meters:
- A conference center for 3,500 people
- Three striking living and office towers for international corporate seats
- High quality branded apartments with sea views
- Hotels of international brands
- A shopping center
- An oceanographic museum
- A mosque
- Educational institutions including an international school
- Sports and wellness systems
- Green areas with running and bike paths
The project designed by the architect Gianni Ranaulo relies on “complete climate resistance” and only renewable energies. A special feature is the car -free upper level with underground transport infrastructure.
With this project, the Maldives pursue a long -term strategy for economic diversification apart from tourism and position themselves as a future -oriented financial location in the Indian Ocean. The island state, which consists of around 1,200 islands, threatens the proverbial downfall. By 2100, the islands, some of which only protrude a few meters above sea level, could sink in the course of global warming. By 2050, 80 percent of the area could already be under water. The accumulation of artificial islands is countered, which costs a lot of money.
