The Maldives Geography, Economy, and Culture

The Maldives is a chain of islands located southwest of the Indian peninsula, in the Indian Ocean. The archipelago is the world’s lowest-lying country, with even its highest natural point being one of the lowest in the world, at 5.1 meters. Its history includes colonization by the Portuguese, Dutch, and the British, from whom the people gained independence in 1965.

With over 1,000 coral islands grouped in a double chain of 26 atolls, the Maldives comprises coral reefs and sandbars, situated atop a submarine ridge 960 kilometers long that rises abruptly from the depths of the Indian Ocean and runs north to south, with a tropical monsoon climate. Although tourism arrived at the islands only in the 1970s, its arrival greatly transformed the national economy moving it rapidly from its historical dependence on the fishing industry.

The largest ethnic group is the Dhivehin, who are native to the historic region of the Maldive Islands. They are an Indo-Aryan people, having traces of Middle Eastern, South Asian, Austronesian, and African genes in the population.

2021
April 13Ramadan Start
May 1Labor Day / May Day
May 13Eid ul Fitr
May 14Eid al Fitr Holiday
May 15Eid al Fitr Holiday
July 18Public Holiday
July 19Hajj Day
July 20Eid ul Adha
July 21Eid ul Adha Holiday
July 22Eid ul Adha Holiday
July 23Eid ul Adha Holiday
July 25Public Holiday
July 26Independence Day
July 27Independence Day Holiday
August 9Muharram/Islamic New Year
October 7National Day
October 18Milad un Nabi (Mawlid)
November 3Victory Day
November 7The Day Maldives Embraced Islam
November 11Republic Day
  • Limited Liability
  • Corporation
  • Partnership
  • Corporate Tax: 8% (lowest rate), 15% (highest rate)
  • Income Tax (Lowest Marginal Rate): 0%
  • Income Tax (Highest Marginal Rate): 15% (0% for expatriates)
  • VAT/GST/Sales Tax: 6%
  • Bank of Ceylon
  • Maldives Islam bank
  • Bank of Maldives
  • Commercial Bank of Maldives
  • The Mauritius Commercial Bank (Maldives) Private Limited
  • The Hongkong and Shanghai Banking Corporation
  • State Bank of India
  • Habib Bank Limited

Aadmi can support you with your expansion to Maldives. Our team of experts in country manage every aspect of your expansion from incorporation, accounting, legal, and even administrative concerns.  Matched with Global People Strategist’s powerful labor compliance software, your company is in good hands.

Contact us today for more information about how your company can benefit from using Aadmi as your global expansion partner.

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