Foreign nationals who purchase property and settle in the Rasmale’ development will be eligible for a special visa that requires periodic renewal, Attorney General Ahmed Usham has said.
Usham made the remarks during a meeting with religious scholars. According to accounts of the discussion, the residency arrangement will mirror Malaysia’s My Second Home programme, under which investors who meet financial criteria receive a multi-year visa that must be renewed if conditions continue to be met.
The Attorney General indicated that the government is considering a distinct visa category for Rasmale’ residents because the project developer, Eagle Hills, has not agreed to participate in the separate Pearl Residency programme being developed with Henley & Partners.
Usham confirmed that work is under way to amend the Maldives Immigration Act to accommodate a Corporate Residence Visa for those settling in Rasmale’.
The Rasmale’ project involves the allocation of reclaimed land to UAE-based Eagle Hills for a large waterfront and marina development. Details of ownership, inheritance and residency rights have been the subject of ongoing public and political debate.
