On 1 September 2014, the Maldives Special Economic Zone Act was published in the Official Gazette following parliamentary approval of the bill and ratification by the president. The provisions of the Act generally apply from 2 September 2014.
The bill introduces nine types of special economic zones and related tax incentives. The zones include:
- Industrial estates
- Export processing zones
- Free trade zones
- Enterprise zones
- Free ports
- Single factory export processing zones
- Offshore banking unit…