Introduction of Maldives - Part 01 - Doing Business in the Republic of Maldives

The Maldives is a small island state located in the Indian Ocean, just South-East of Sri Lanka. The Maldivian archipelago consists of 1192 islands each surrounded by shallow, crystal clear lagoons enclosed within naturally protective coral reefs. The climate is tropical, with two monsoons, keeping the islands unvaryingly warm throughout the year.

As a country renowned worldwide for its natural geographical beauty, around 111 of Maldives’ islands have been developed into luxury resorts for tourists, from which the country generates most of its income. Additionally, the Maldives sits astride busy sea-lanes that connect Asia with the rest of the world.

The local population, which is close to 350,000, is spread out across 188 islands, but most concentrated in the capital city of Malé, which is not only the political capital but also the centre of commerce in the country. The population is homogenous, speaking one language and practising one religion. In addition to the local language, English is widely spoken and is the main medium of instruction in schools and the primary medium of communication in business.

The Maldivian Rufiyaa (MVR) is the main unit of currency used in the country. The most common foreign currency used within the country is the US dollar.

The main port of entry to Maldives is through Ibrahim Nasir International Airport at Hulhulé, an island adjacent to Malé. There are three additional international airports, one in Hanimaadhoo located in the northern tip of Maldives, the second in the southernmost Gan Island and the third in Maamigili.

There are 5 domestic airports within the Maldives, and a large fleet of seaplanes providing daily and easy access to the 112 resort islands across the country. The other modes of transport most widely used by residents are ferries or motorboats that regularly travel through Maldivian seas.

The Malé port and harbour lie on the western side of the capital and receive the bulk of imports into the country.

Maldives has had a nimble ascent to an upper middle-income country with the highest GDP per capita in South Asia.

Nominal GDP per capita - USD 6,722
Total Population: 380,728
GDP Growth Rate: 8.5%
Foreign Exchange Rate: USD 1 = MVR 15.42

Children of the Maldives