The Maldives is set to introduce the Pearl Residency Visa for investors next month, Minister of Economic Development and Trade Mohamed Saeed has announced, describing it as a new approach to strengthening the country’s economic outlook.
The government has engaged Henley & Partners to design the Pearl Residency Programme. The agreement was made during President Dr Mohamed Muizzu’s visit to Singapore last year, alongside an investor forum held during the trip. The programme is aimed at attracting foreign investment while allowing investors to reside in the Maldives for extended periods.
Speaking at a press conference held at the President’s Office, Minister Saeed said the legal framework required to implement the programme is currently being finalised in collaboration with the Attorney General’s Office.
“We are working with Henley & Partners to introduce a residency programme called the Pearl Residency Visa. The legal work is ongoing with the Attorney General’s Office, and our target is to introduce the programme in April,” he said.
Minister Saeed said the initiative is expected to open up new economic opportunities, particularly in light of changing global dynamics. He noted that current geopolitical developments, including tensions in the Middle East, present an opportunity for the Maldives to attract investors through such programmes.
He added that Henley & Partners’ involvement would strengthen the programme’s reach, noting that the firm operates in 33 countries and has an extensive global network.
“This is one of the strongest players in this field, operating across 33 countries. Their global network will be a significant advantage in promoting the programme and attracting investors,” he said.
President Dr Mohamed Muizzu has previously announced plans to introduce the residency programme in April, offering new opportunities for foreign investors to engage with the Maldivian economy.
The government is also working on additional initiatives to diversify tourism and investment, including the introduction of special visas for content creators and remote workers.