If you have ever wanted to own your own private island, know that now is the right time for that investment…
Authorities in the Maldives plan to auction off a 50-year lease of sixteen of their islands and groups of islands, scattered across their atolls. However, don't think that you will be able to turn your island into one huge private property - everyone who is interested in the auction must agree to build some kind of resort on the land they get.
It is a truly deliberate move, aimed at helping this nation recover from a severe pandemic strike on their economy, which relies primarily on tourism. Those who win the auction will have thirty-six months to start building any project, and will receive additional encouragement to move to the Maldives themselves. If you spend a minimum of $ 250,000 this way, you will receive a five-year resident visa, so you will be able to enjoy this paradise on earth for a long time.
We must mention that the competition will be evaluated on the basis of numerous aspects, not only on the basis of the offered money, so things like gender equality of potential employees and carbon footprint will also be taken into account. Each resort must be conducive to its environment, as explained by Ali Shinan, director of planning at the Ministry of Tourism: "No building should be taller than a tree, while it can occupy a maximum of thirty percent of the available land." Trees must not be removed without the written permission of the state authorities during construction, and if one is removed, two must be planted instead. Infrastructure must be created five meters from the vegetation line, in order to preserve the existing environment.
If you want to participate in this auction, you have until June 6 to obtain all the necessary documents. International bidders must pay a non-refundable sum of $ 3,250 to apply, and by June 10, they must make a bid for the desired piece of land.
Each island comes listed with a minimum number of beds per resort, with an indication of whether land reclamation is possible. There is no minimum amount of money that must be offered for any place, but it is already expected that certain localities will attract larger sums.
If you miss this opportunity, know that it will reopen very soon.