Although not
exclusive, the following lists out investments that has been already approved
by
the
Government and hence would be speedier in approvals provided the relevant
requirements are observed.
1. Financial consultancy
2. Auditing services
3. Insurance services
4. Water sports activities
5. Commercial diving (salvage)
6. Domestic air transport services
7. Catering services for airlines
8. Big Game fishing
9. Technical support services i.e. photocopies, elevators,
ATM machines etc
10. Manufacturing of garments
11. Water production, bottling and distribution
12. Consultancy in public relation, editorial,
advertising and translation services
13. Packing and distribution of cement
14.
General
Sales Agency, Passenger Sales Agency and Cargo Sales Agency for airlines and
shipping lines
15. Spa operations and management
16. Water treatment plant
17. Boat building
18. Software development and related support services
19. Domestic maritime ferry services
20. Financial leasing services
21. Fish processing activities
22. Traditional medical services
23. Production of underwater photography, videography
and postcards
24. Block ice making
25. Speciality Restaurants
26. Professional business valuation services
27. Flying School
28. IT System integration and implementation services
Note: Approvals for investments on the “positive list” are subject to relevant
regulatory approvals, where
applicable.
(a) Of those foreign parties referred to in section 1. a) Of this law,
only a bank or a Government recognised by the Government of the Republic of
Maldives, or a person or body whose financial status is either guaranteed by a
bank or such institution or is acceptable to the Government of the Republic of
Maldives, may invest in the Republic of Maldives.
(b)
An
investment made in the Republic of Maldives will be permitted to carry on
operations and activities for the full 1 term of the agreement if there is
compliance with the Law on Foreign Investments in the Republic of Maldives. And
such investments will be duly facilitated by the Government of the Republic of
Maldives.
(c)
Capital
belonging to an investment would be permitted to be taken out of the country in
a manner to be agreed on by the parties.
(d) If the investment operations in
the Republic of Maldives be such that local raw materials could be used, such
items shall be obtained and in the process. Provided however, where suitable
materials for the processes are not obtainable in sufficient quantities
locally, they may obtain from outside the Republic of Maldives.
(e)
Though
foreigners are allowed to take up employment in those cases where
non-Maldivians become extremely necessary, it is highly recommended that
Maldivian nationals shall be employed in investments in the Republic of
Maldives.
(f)
If the
items produced by the investment are a requirement of the Maldivian people, a
percentage of the production shall, if necessary, be required to be marketed in
the Republic of Maldives in a manner to be agreed to by both parties.
(g)
The
profits from investing in Maldives may be repatriated back to host country
under the terms of the agreement in the Law.
No comments:
Post a Comment