Notice on Foreign Investment Transition Requirements

Following the ratification of the new Foreign Investment Act on 3^rd September 2024 and the subsequent issuance of the Foreign Investment Entry Requirements on 8 October 2025 by the Ministry of Economic Development, Transport and Trade under Ref: (IUL)101-IM/PRIV/2025/2, the Ministry wishes to remind companies and investors of the transition arrangements introduced under the new requirements, including the applicable transition deadline of 8 October 2026.

Under the new requirements, certain business activities that are closed to foreign investment are required to transition out within specified timeframes.

The activities subject to transition compliance by 8^th October 2025 include:

• Wholesale and/or retail trade
• Cargo Sales Agent (CSA), General Sales Agent (GSA), and Passenger Sales Agent (PSA) activities

Companies with existing approvals to carry out these activities are therefore required to take the necessary steps to transition out of the relevant activities and ensure compliance with the Foreign Investment Entry Requirements within the applicable transition period.

The transition framework set out in Annex II of the Foreign Investment Entry Requirements provides different options for affected existing investments. The Ministry encourages companies in the affected areas to engage with the Ministry at the earliest opportunity to understand the requirements applicable to their investments, the transition options available to them, and the most appropriate way forward.

Companies Required to Engage with the Ministry

The Ministry has made efforts to contact companies affected by the entry requirements, including through email correspondence and telephone calls using the contact details available in its records. As a result of these efforts, a number of companies in the affected sectors have already commenced engagement with the Ministry and are actively progressing their respective transition requirements.

However, despite these efforts, the Ministry has been unable to establish contact with the following companies, which, according to the Ministry’s records, have listed business objectives relating to wholesale and/or retail trade and/or CSA/GSA/PSA activities that are subject to the transition requirements ending on 8 October 2026:

Call to Engage with the Ministry

The Ministry urgently requests the above companies, or their directors, shareholders, authorized representatives or other relevant persons, to contact Invest Maldives at the earliest opportunity.

Engagement will allow the Ministry to:

• confirm the transition requirements applicable to the company.
• explain the transition options available under the Revised Foreign Investment Entry Requirements; and
• discuss the steps required to achieve compliance within the applicable timeframe.

The Ministry remains committed to facilitating an orderly and transparent transition and providing affected investors with the necessary information and guidance to regularize their investments. Companies that have not received previous correspondence from the Ministry, or whose contact details have changed, are particularly encouraged to contact Invest Maldives without delay.

Contact Details:

Invest Maldives, Foreign Investment Unit
Ministry of Economic Development, Transport and Trade
11th Floor, Velaanage, Malé 20096
Republic of Maldives

Telephone: 3333181 / 3333182
Email: [email protected]

Transition Deadline: 8 October 2026

The Ministry strongly advises all affected companies to engage with Invest Maldives as soon as possible to ensure that the necessary transition arrangements can be completed before 8 October 2026, and to ensure continued compliance with the applicable legal and regulatory requirements.

Failure to complete the required transition arrangements within the stipulated period may result in the necessary action being taken in accordance with the Foreign Investment Act (Law No. 11/2024