A new Foreign Direct Investment Policy has been published in the gazette on 11th February 2020.This new policy consolidates existing practices and new policy changes in foreign investment registration and approval process. The objective of this policy is mainly to increase transparency, predictability, certainty and consistency in the foreign investment approval process and improve the efficiency of this process. Furthermore, it determines areas that are closed for FDIs, areas that require joint venture partnership with Maldivians for FDI approval and areas that are open for 100% FDIs.
The application review process takes 2 working days for applications submitted under the 'Automatic' route, and 5 to 14 working days for applications submitted under the 'Government' route.
Some of the key changes brought by this policy includes: