Is it possible to become a permanent resident of Maldives?

Maldives is known to be one of the most beautiful vacation destinations in the world. However, for those who wish to make it more than just a temporary getaway, the question arises – is it possible to become a permanent resident of the Maldives? The answer is yes! In this article, we will discuss the different ways to become a permanent resident of Maldives.

Marriage to a Maldivian citizen

One way to become a permanent resident of the Maldives is by marrying a Maldivian citizen. In such a scenario, the foreign spouse can apply for a residence permit, which is renewable annually. After five years of continuous residence, the foreign spouse can apply for permanent residency in the Maldives. However, it is important to note that the Maldivian government has the right to revoke a foreigner's residency permit at any time without providing a reason.

Real Estate Investment

Another way to obtain permanent residency in the Maldives is by investing in real estate. The Maldives offers a special economic zone called "Integrated Tourism Development" where foreigners can invest in real estate. By investing more than $500,000 in real estate, a foreigner can apply for a residency permit. This permit is renewable every five years, and after 10 years of continuous residence, the foreigner can apply for permanent residency.

Entrepreneurship

Maldives also offers an option for entrepreneurs who wish to establish businesses in the country. Foreigners who invest in a business that employs local Maldivian citizens can apply for a residency permit. The permit is renewable every five years, and after 10 years of continuous residence, the foreigner can apply for permanent residency. However, it is crucial to note that the business must be registered with the Maldivian Ministry of Economic Development.

Retirement

The Maldives are also an excellent retirement destination. If you wish to retire in the Maldives, you must have a retirement plan that generates at least $1,500 per month and a proof of retirement. In such scenarios, a person can apply for a residency permit, which is renewable annually. After five years of continuous residence, the retiree can apply for permanent residency in the Maldives.

Conclusion

In conclusion, becoming a permanent resident of the Maldives is possible through different means, such as marriage to a Maldivian citizen, investing in real estate, entrepreneurship, and retirement. All residency permit applications must go through the Maldives Immigration Department. Remember to abide by the rules and regulations prescribed by the Maldives, and always follow all procedures carefully. The Maldives is an excellent country to live in, and who knows – it could end up being your permanent vacation destination!