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Relief for Businesses in Addu: No Taxes or Land Rent for Three Years
President Dr Mohamed Muizzu announced that Addu will be designated a special economic zone for three years, from 2027 to 2029, exempting businesses on state-owned land from rent, BPT and income tax, and reducing annual fees. The incentives, described as a pilot project, follow the Addu Business Dialogue held on 13 and 14 May, with the Ministry of Economic Development expected to announce specific arrangements in the coming days.
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Businesses will not have to pay rent for state-owned land. They will not have to pay BPT or income tax. Annual fees, which currently range from MVR 200,000 to MVR 300,000, will be reduced. There will also be exemptions from annual fees for…
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MVR 200,000 to MVR 300,000annual fees range to be reducedMiadhuAnnual fees, which currently range from MVR 200,000 to MVR 300,000, will be reduced. There will also be exemptions from annual fees for vehicles imported for use by SMEs.
Addu designated as a special economic zone for three years covering Addu City, Hithadhoo and Meedhoo2027 to 2029Addu, Addu AtollMiadhuThe Government has decided to designate Addu as a special economic zone for three years, from 2027 to 2029, covering Addu City as well as the islands of Hithadhoo and Meedhoo in Addu Atoll.
President Muizzu first announced special economic incentives for Adduthis year's Presidential AddressMaldivesMiadhuPresident Dr Muizzu first announced the decision to introduce special economic incentives for Addu in this year’s Presidential Address.
President outlined further details of the incentives at the awards ceremony of the Maldives' Creative Arts Exhibitionrecently (article published 2026-10-25)MaldivesMiadhuFurther details of the Government’s plans were outlined by the President at the awards ceremony of the Maldives’ Creative Arts Exhibition.
Addu Business Dialogue held with Addu's business community13 and 14 May this yearAdduMiadhuthrough the Addu Business Dialogue, held in Addu on 13 and 14 May this year. The forum provided an opportunity for local businesses to share their views and recommendations on measures to support economic growth in the region.
