The People’s Majlis has passed a bill granting the President expanded authority over the allocation and leasing of uninhabited islands and lagoons for various purposes.
The bill was passed with 47 members voting in favor, while 12 members voted against the motion.
Under the provisions of the bill, the President is vested with the power to designate uninhabited islands and lagoons for specific uses. While the standard lease period is set at 21 years, ministries and councils are granted the discretion to extend this duration up to 50 years.
The legislation specifies that uninhabited islands may be leased for tourism, industrial activities, fisheries, agriculture, and other economic, social, or state-related purposes.
The annual rent for islands leased for industrial and economic purposes is set at MVR 3.00 per square meter. For fisheries and agricultural purposes, the rate is MVR 2.50 per square meter, while islands leased for social purposes will be charged at MVR 2.00 per square meter.
The bill further outlines that lagoons may be leased for large-scale and medium-scale industrial works, large-scale economic activities, and aquaculture or aquaculture-related ventures.
The lease rate for lagoons designated for industrial and economic use is MVR 3.00 per square meter, while lagoons utilized for fisheries-related activities will be charged at MVR 0.50 per square meter.
According to the bill, lagoons and uninhabited islands can be leased for commercial purposes to companies, partnerships, and sole proprietorships registered in the Maldives, as well as to re-registered foreign companies and partnerships.
The legislation mandates that relevant ministries must share detailed information regarding the leasing of islands with the Anti-Corruption Commission (ACC) and the Auditor General’s Office.
Additionally, the bill stipulates that islands may be granted under the "Varuvaa" (traditional short-term land tenure) system for a period of five years.
