The Maldives government has partnered with Dubai-based MBS Global Investments to create an $8.8 billion financial centre in the capital city of Male. This ambitious project aims to establish a complex that will feature skyscrapers and will not impose residency requirements on its users.

The financial centre will offer significant tax benefits, including no corporate tax and tax-free inheritance. This initiative is expected to attract international investors, enhancing the Maldives’ appeal as a business hub. MBS Global Investments highlighted that the project represents a major development in the region’s financial landscape.

Officials have expressed optimism about the project’s potential to stimulate economic growth in the Maldives. As this partnership unfolds, it is anticipated that the financial centre will create numerous job opportunities and contribute to the local economy in meaningful ways.