A joint venture between the Maldives Government and MBS Global Investment, the Maldives International Financial Centre (MIFC) aims to create a wholly sustainable Financial Freezone in Malé.

MIFC will offer no corporate tax, tax-free inheritance, ownership as per the constitution of the Maldives, and privacy. Combined with no residency requirements, it’s set to attract digital nomads, entrepreneurs, and wealth creators seeking freedom without borders.

According to the Maldives Government, residents will benefit from “multi-currency banking” and “access to offshore private banking”, with “future-ready regulations” supporting digital assets, and green finance - “making MIFC not just a financial hub, but a destination for those investing in the legacy of future generations”.

Due to be completed by 2030, the aim is to notably increase the country’s GDP within four years with projected revenue to be well over $1bn by the fifth year.

The centrepiece of MIFC is a state-of-the-art conference centre with capacity for 3,500 people. The multi-purpose convention venue will host global conferences, cultural events and innovation-driven hackathons.

The plan includes three 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 education facilities including an International School.

President Dr Mohamed Muizzu said: “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.”

Minister of finance for the Maldives, Moosa Zameer, said: “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.” 

Nadeem Hussain, CEO of MBS Global Investments, added: “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.”

MIFC will have a fully climate-resilient infrastructure, and the architecture and public spaces will be 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.

It will offer a holistic lifestyle rooted in wellness and longevity - designed to be one of the most desirable places to live and work. It will feature 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.

This dynamic mixed-use development has been designed by master planner architect Gianni Ranaulo, every structure from the overarching master plan to the individual buildings are inspired by the local fauna and marine eco-system. 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.