The government of the Maldives and MBS Global Investments are planning to establish an $ 8.8 billion Maldives International Financial Center (MIFC)-a fully sustainable financial free zone in Maldé, Maldives, which was specially designed and created to attract global financial institutions, fintech pioneers and global digital nomads.
It enables the Maldives to diversify beyond tourism, will attract the future of the financial sector and position Malé as a leading global economic and financial location in the Indian Ocean by an integrated, mixed district.
The MiFC does not provide for corporate tax, enables tax -free inheritance and offers property rights in accordance with the constitution of the Maldives and data protection. In conjunction with the lack of residence obligation, this will attract digital nomads, entrepreneurs and wealth educators who are looking for freedom without limits.
Local people benefit from multi-currency banking and access to offshore private banking. Sustainable regulations will support digital assets and green financing and make the MIFC not only a financial center, but also a goal for investors who invest in the inheritance of future generations.
It should be completed by 2030 and easily accessible from every part of the world. The aim is to significantly increase the country’s GDP within four years, whereby the income up to the fifth year should be well over a billion US dollars.
The heart of the MiFC is a state -of -the -art conference center with a capacity for 3,500 people. The multifunctional venue will accommodate leading global conferences, cultural events and innovation -oriented hackathons, which is establishing male as a leading conference location, will provide for activities in the Maldives all year round and the already established tourism industry will further strengthen.
The plan includes three iconic living and office towers that are designed for international headquarters and regional branches, high-quality branded apartments with sea views, world-famous hotel brands, a lively and unique shopping experience, an oceanographic museum, a mosque and leading educational institutions, including an international school.
President Dr. Mohamed Muizzu said: “With the MiFC we shape the future of the Maldives. It will be a lighthouse of innovation and national pride that will thrive in harmony with nature. The financial center will be a symbol of economic resilience and set a new global scale from which people in the Maldives will benefit massively over generations.”
The Finance Minister of the Maldives said: “This is a pioneering project. It offers an excellent opportunity to diversify our economy with our ambitions beyond tourism and attract the best companies in the world as well as visionary entrepreneurs. “
Nadeem Hussain, Managing Director of MBS Global Investments, said: “The financial center will set a new global yardstick and promote the financial innovation at least two decades. It is the next stage of development that is already happening in other financial centers around the world. “
The MiFC will have a completely climate -resistant infrastructure, and the architecture and public spaces are only supplied with renewable energies. The upper level of the construction project will be completely car-free, since the entire traffic and logistics infrastructure is underground to obtain a pedestrian-friendly, open environment.
It will offer a holistic lifestyle that is geared towards wellness and durability, and should become one of the most sought -after places to live and work. It will have first-class sports facilities, state-of-the-art durability and wellness centers as well as shady running and bike paths that meander through extensive green areas. In addition to the state -of -the -art office space, the MIFC will also house high -quality retail stores, renowned gastronomy and dynamic cultural sites and thus create a really integrated environment to live, work and relax.
This dynamic, multifunctional construction project was designed by the chief planner and architect Gianni Ranaulo. Every structure, from the overarching master plan to the individual buildings, is inspired by the local fauna and the marine ecosystem. Ranaulo relies on environmentally conscious practices for all projects. The total area of the construction project is 780,000 square meters, on which more than 6,500 people can live and 35,000 visitors are expected every day.
Photo – https://mma.prnewswire.com/media/2679143/MALE_MIFC_GianniRanauloDesign01.jpg
Photo – https://mma.prnewswire.com/media/2679144/MALE_MIFC_GianniRanauloDesign_02.jpg
