President Dr Mohamed Muizzu has decided to introduce an ‘Investor Residency’ programme to diversify the economy.
This decision was made following comprehensive deliberations on a proposal presented by the Ministry of Economic Development and Trade during the most recent Cabinet meeting.
Following the President’s decision, the Pearl Visa Programme will be implemented as a business activity to boost the real estate sector and revive the economy. It was also decided that all matters relating to the implementation of the programme would be taken up by a committee comprising the Minister of Foreign Affairs, Minister of Homeland Security and Technology, Minister of Economic Development and Trade, Attorney General, Minister of Tourism, and Minister of Housing, Land and Urban Development.
A press conference was held at the President’s Office yesterday to brief the media about the President’s decision. During the meeting, the ministers from relevant line ministries shared the details of the decision and answered queries from the media.
