This venture between the Maldives and MBS Global Investment is set to diversify the country beyond tourism, attracting the future of finance and positioning Male’ as the premier global business and financial hub in the Indian Ocean through an integrated, mixed-use urban district.
mifc.gov.mv
On 4 May 2025, the Maldives’ government and MBS Global Investments partnered up to create a US8.8 billion Maldives International Financial Centre (MIFC) – a wholly sustainable, Financial Freezone in Male’, Maldives, designed for and created to attract global financial institutions, fintech pioneers, and global digital Nomads.
The announcement for the formal establishment of the MIFC was made during the signing ceremony of a joint venture agreement and Memorandum of Understanding (MoU) between the Ministry of Finance and Planning and the MBS Global Investments. This venture between the Maldives and MBS Global Investment is set to diversify the country beyond tourism, attracting the future of finance and positioning Male’ as the premier global business and financial hub in the Indian Ocean through an integrated, mixed-use urban district.
This partnership is set to not only benefit the Maldives’ economy but also the residents of the country, as MFC will offer no corporate tax, tax-free inheritance, and ownership as per the constitution of the Maldives, and privacy. Combined with no residency requirements, MIFC is set to attract digital nomads, entrepreneurs, and wealth creators seeking freedom without borders.
This is a momentous project. It offers a great opportunity to diversify our economy beyond tourism in line with our ambitions and will attract the best businesses and visionary entrepreneurs in the world.
This strategic positioning is expected to boost foreign direct investment, stimulate new business formation, and drive growth in high-value service sectors such as fintech, asset management, and digital innovation. By attracting global entrepreneurs and wealth creators, the Maldives can diversify its economy beyond tourism, generate skilled employment opportunities for locals, and enhance government revenue through indirect economic activity and service fees, strengthening long-term economic resilience.
This partnership will also benefit the residents of the Maldives by opening up ways to access multi-currency banking and offshore private banking. These future-ready regulations are set to support digital assets and green financing, making MIFC not just a financial hub but a destination for those investigating the legacy of future generations.
With the benefits set to take the Maldives to new heights, the President of the Maldives, President Dr Mohamed Muizzu, declared the MIFC as a ‘legacy of bold decisions, courageous partnerships, and national purpose.’ President Muizzu, in his keynote speech given during the inauguration ceremony, positioned the financial centre as a cornerstone of his administration’s long-term economic vision and key instrument for transforming the Maldives into a developed nation by the year 2040.
With the MIFC, we are shaping the Maldives of tomorrow, a beacon of innovation and national pride that will thrive in harmony with nature. The financial centre will be a symbol of economic resilience and will set a new global benchmark that will massively benefit the people of the Maldives for generations to come.
According to MIFC, the project which is set to be completed by 2030 will be easily accessible from any part of the world and the aim is to notably increase the Madives’ GDP within four years with projected revenues to be well over USD1 billion by the fifth year.
The financial centre will set a new global benchmark, advancing financial innovation by at least two decades. It is the next evolution of what has been happening in other financial centres around the globe.
The centrepiece of MIFC is a state-of-the-art conference centre with a capacity for 3,500 people. The multi-purpose convention venue will host leading global conferences, cultural events and innovation-driven hackathons, establishing Male’ as a leading assembly hub, driving all year-round engagement in the Maldives and further supporting the wider, already established hospitality industry.
The plan includes three iconic residential and office towers designed for international HQs and regional offices, high-end, seafront branded residences, world-renowned hotel brands, vibrant and one-of-a-kind retail experience, Oceanographic Museum, Mosque, and leading education facilities, including an International School.
Additionally, MIFC is also set to have a fully climate-resilient infrastructure, and the architecture and public spaces, powered exclusively by renewable energy. The upper level of the development will be entirely car-free, with all transport and logistics infrastructure located underground to preserve a pedestrian-friendly, open-air environment. This type of establishment also aligns with the Maldives’ drive towards creating a more sustainable future while also working towards economic growth and development.
MIFC is also set to offer a holistic lifestyle rooted in wellness and longevity, designed to be one of the most desirable places to live and work — featuring world-class sports facilities, cutting-edge longevity and wellness centres, and shaded running and cycling tracks woven through expansive green spaces. Complementing its state-of-the-art office spaces, MIFC will also be home to premium retail, celebrated F&B destinations, and dynamic cultural venues - creating a truly integrated live-work-play environment. This development will take the Maldives retail and hospitality sector to the next level, allowing both the residents of the country and travellers to enjoy state-of-the-art establishments.
To create this dynamic mixed-use development, the master planner, Architect Gianni Ranaulo, created every structure from the overarching master plan to the individual buildings inspired by the local fauna and the marine ecosystem of the Maldives. Ranaulo incorporates environmentally conscious practices in all projects. The total size of the development is 780,000 sqm, where more than 6,500 people can reside, and an expected daily footfall of 35,000.
The establishment of the MIFC will serve as a digital-first, borderless, and sustainable financial ecosystem, leveraging the Maldives’ strategic location– establishing a new benchmark that is inclusive and future-ready.
