Frequently Asked Questions

Ownership & Lease

Who is the landowner?

Addu City Council

What is the lease period?

99 years, duly registered with relevant government agencies

Can I mortgage or resell my apartment?

Yes. You can mortgage the apartment or its revenue, and you may resell or transfer your rights at any time. Premier can also assist with resale (3% commission covers legal fees)

Development & Completion

What stage is the project at?

Head lease signed, concept design and detailed drawings complete, all concrete and brick works finished. Finishing and furnishing now underway

When is completion expected?

Target completion: January 2026 (updated timeline).

How will I be updated?

Through monthly progress reports, photos and videos via a secure online portal

Pricing & Payment

What is the payment plan?

• $5,000 booking fee
• 25% upon signing
• 75% at handover

Is there a discount for upfront payment?

No. For this project, no discounts are offered.

Maintenance & Management

How much is the maintenance fee?

$500 per month (with a 10% increase every 5 years)

What does it cover?

Cleaning, landscaping, common utilities, 24/7 security, standby services and finance/admin management

Can Premier manage my apartment?

Yes. Optional full management is available for 10% of profit

What kind of returns can I expect?

Modelled figures show ~7 years to recover your investment, with ~USD 25,000 net annual profit (see Investment page for details)

Furnishing & Specifications

Are apartments furnished?

Yes, fully furnished — furniture, doors, windows, curtains, linens, fittings and fixtures

What standards are used?

Concrete built to British Standard, solid brick walls, ISO-standard fittings and fixtures

Taxes & Legal

What taxes apply?

• $6 Green Tax per night
• 16% TGST on revenue
• 15% Business Profit Tax (above $46,692 annual profit)

Note: Tax rates as of December 2024.

Do I get residency or citizenship?

No, property purchase does not provide residency. However, Maldives offers free visa-on-arrival, and new flexible visa schemes are expected

Location & Lifestyle

How far is the project from the airport?

1.2 km from Gan International Airport

What facilities are nearby?

International harbour, hospital, 24/7 power, broadband internet, satellite TV and sports/recreation facilities

What attractions are close?

World-class diving spots, tiger shark habitat, coral gardens, nature parks and the southernmost point of the Maldives