The Maldives Pearl Residence, a residency by investment program in the Maldives, was officially announced on October 5.

Economic Minister Mohamed Saeed announced the program at the 19th Global Citizenship Conference in London.

In a post on social media X, the Economic Ministry said it is part of President Mohamed Muizzu's vision for economic diversification and sustainable growth.

"The Maldives Pearl Residence represents a new era of responsible investment, fostering opportunities that integrate innovation, sustainability, and long-term value," it stated.

The program is scheduled to be officially launched in April 2026.

The program was first announced during Muizzu's visit to Singapore. Henley & Partners, a private consultancy firm in the UK, was contracted to design it.

The government said the program will be designed to attract the wealthy to invest in the Maldives.

The government decided in September 2024 to expand the existing corporate residency visa under the Immigration Act and launch it as an investor residency visa programme.

Residency visas were included in the Immigration Act on November 25, 2020, with an amendment to the Immigration Act by the former Maldivian Democratic Party (MDP) government.

Previously, the visa was issued to people who invested at least USD 50 million. The change brought that amount down to USD 250,000.

In addition, corporate resident visas will be issued to foreigners who have deposited at least USD 250,000 in a fixed deposit account with a Maldivian bank for five years.