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.
|April 13||Ramadan Start|
|May 1||Labor Day / May Day|
|May 13||Eid ul Fitr|
|May 14||Eid al Fitr Holiday|
|May 15||Eid al Fitr Holiday|
|July 18||Public Holiday|
|July 19||Hajj Day|
|July 20||Eid ul Adha|
|July 21||Eid ul Adha Holiday|
|July 22||Eid ul Adha Holiday|
|July 23||Eid ul Adha Holiday|
|July 25||Public Holiday|
|July 26||Independence Day|
|July 27||Independence Day Holiday|
|August 9||Muharram/Islamic New Year|
|October 7||National Day|
|October 18||Milad un Nabi (Mawlid)|
|November 3||Victory Day|
|November 7||The Day Maldives Embraced Islam|
|November 11||Republic Day|
- Limited Liability
- 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
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