Is it possible to buy an island in the Maldives

The Maldives is an independent republic, which consists of almost 1200 islands. Only about 200 of them are local, that is, inhabited by permanent residents. This is only one fifth of the tropical land in the Indian Ocean. About 150 more islands are occupied by private islands that offer luxury holidays with high-level comfort. There are many resorts in the Maldives owned by popular global hotel brands and individuals who have decided to connect their lives and work with the tourism industry in the Maldives. Owning an island in the Maldives seems more like a beautiful dream.

Asad Photo Maldives

Can I buy an island in the Maldives?

At the moment, it is unfortunately impossible to become the full owner of the island in the Maldives. Like many other resort countries, the Maldives restricts direct foreign ownership of its territories. But! Renting the island for a long time is quite possible.

The island nation previously allowed foreign investors to use its land for a period of no more than 25 years. Recently, the Maldivian government has been increasingly returning to the issue of relaxing lease laws and extending the life of the islands for longer periods. The easing of rental conditions, in particular, is associated with the COVID -19 epidemic, which, of course, has affected the tourism industry in the Maldives.

Ibrahim Mushan

Auction of the islands in the Maldives

If you have ever wanted to have your own tropical island, now is the time. In 2021, the first private island auction was held in the Maldives. It featured a long-term rental of 16 paradises scattered throughout the atolls. Lease term - from 50 to 99 years. The only condition for the acquisition of Maldivian land is the development of tourism. That is, it is unlikely that it will be possible to build a family mansion, but you are always welcome to invest in the development of a resort on a rented island.

Such methods are used by the Government of the Maldives to support the tourism business in the Maldives during the pandemic. The winners of the tender have 36 months to start construction of the resort. It is necessary to pay at least $250,000 for the development of the tourism business in the Maldives.

Depositphotos

Where to begin

On the official website of the Ministry of Tourism of the Maldives in the announcements section, you can periodically find a rental review and a list of islands for sale. If you are interested in the offer, apply for participation in an online meeting of representatives of the ministry with potential investors. This will be your first step towards your island in the Maldives.

How much is an island in the Maldives

No wonder the idyllic islands of the Maldives are far from cheap. Their cost starts from 2.5 million dollars for 2-3 hectares of land, and can reach several tens or even hundreds of millions of dollars for the entire territory.

The amount depends on:

• conditions and duration of the lease;
• island area;
• natural conditions;
• external messages;
• presence or absence of infrastructure;
• distance from Male.

Mohamed Nashah

What are the risks

So that the island in the Maldives does not become your disappointment, we advise you, first of all, to study all the risks associated with such a precious tropical land. The first thing that should play a major role in your decision to equip the Maldivian island is the flood caused by global warming.

The highest point of the Maldives today is 2.4 meters above sea level. Basically, the land of the islands is very even and flat, without any elevations. The Maldives is quite different from, say, the Seychelles, where hilly landscapes with rocky ledges predominate.

The Maldivian government is doing everything possible to combat the effects of climate change. However, experts' forecasts are not entirely encouraging. There is some probability that in the 21st century the main part of the Maldives will disappear under the surface of the ocean.

There are programs to save the Maldivian land. Artificial embankments are created next to natural islands. But still, it is worth thinking about the long-term lease of small natural islands in the Maldives. If you still decide, arm yourself with good legal support in order to foresee all the "pitfalls".

Hoodh Ahmed