Talent Wiki – Maldives

Your quick guide on talent and labor compliance norms in Maldives

Capital

Malé

Currency

Maldivian Rufiyaa (MVR)

Languages

English, Dhivehi, Arabic, French, German

Payroll Frequency

Monthly

GDP per Capita

$18,842.76

Employer Tax

27%

Talent Overview

The Maldives is known for its world-class beaches and touristic views, making them a popular destination for most travelers seeking leisure and luxury. The country’s rich aquatic resources have been the primary source of its economic success. The tourism and fisheries sector makes up 40% of their GDP and has employed as many as 50,000 local workers. 

Major economic hubs:

Malé, Fuvahmulah, Hithadhoo

Skills in demand:

Tourism and Hospitality, Manufacturing, and Agriculture

Local Universities

The top local universities in Maldives are as follows:

Maldives National University

Ranking

Local: 1

World: 8202

Salary Data

Some of the jobs available in Maldives and their monthly salary listed below:

Job Title Average Monthly Salary (MVR) Average Monthly Salary (USD)
Financial Accountant 13,600 885
Software Developer 18,000 1,171
Financial Analyst 23,500 1,529
Sales Manager 31,700 2,062
Project Manager 20,800 1,353
Customer Service Representative 7,480 487

Talent Sourcing Tips

Top Local Job Boards:

Jobsicle, JobMaldives, Jobisland

Number of LinkedIn users:

142,900

Top Recruitment Agencies:

Aeonian Maldives, Expat.com

Employing in Maldives

Knowing all about the country’s labor laws and regulations is pivotal when onboarding local employees from the Maldives. This section will briefly introduce what to expect when looking for talents in this island country.

Employee Contract

Employment contracts in the Maldives should be written in the Dhivehi local language. It must consist of the terms and conditions of employment.

Probation Period

Probation Period in Maldives should not exceed 3 months.

Public and Provincial Holidays

Date Holiday Type
1 Jan New Year’s Day Public Holiday
11 Mar First of Ramazan Public Holiday
10 Apr Eid-ul Fithr Public Holiday
1 May Labour Day Public Holiday
16 Jun Hajj Day Public Holiday
17 Jun Eid-ul Al’haa Public Holiday
8 Jul Islamic New Year Public Holiday
26 Jul Independence Day Public Holiday
4 Sep Qaumee Dhuvas Public Holiday
15 Sep Mawlid al-Nabi Public Holiday
2 Oct The Day Maldives Embraced Islam Public Holiday
3 Nov Victory Day Public Holiday
11 Nov Republic Day Public Holiday
31 Dec New Year’s Eve Public Holiday

Employee Leaves

Type Of Leave Number of Days Mandatory
Annual Leaves 30 days Yes
Sick Leaves 30 days Yes
Maternity Leaves 60 days Yes

Payroll

Payroll Cycle

The payroll cycle followed is monthly. For temporary employees, the payment can be on a daily, weekly, bi-weekly, or monthly basis, depending on the employer-employee agreement.

Minimum Wage

For the government sector, the minimum wage is  3,100 MVR, while the tourism sector is 8,000 MVR.

Overtime Pay

Bonus

Holiday Bonus 

Employees are entitled to a bonus equivalent to one-third of their monthly salary for Ramadan. It will be paid before the beginning of Ramadan, referred to as the “Ramadan Bonus.”

Employee Benefits

Maldivian employees are entitled to a pension scheme by contributing to their social security every month. Additionally, below are other benefits that employers may offer their employees in the country:

  • Healthcare Insurance
  • Transportation allowance
  • Meal Allowance
  • Social Security
  • Overtime Pay
  • Service Charge
  • Ramazan Bonus

Taxes

Employer Payroll Tax

Tax Rate Contribution Type
7% Social Security

Employee Payroll Tax

Tax Rate Contribution Type
7% Social Security

Employee Income Tax

Annual Income (in MVR) Income Tax Rate

0 – 720,000

0 %
720,000 to 1,200,000 5.5 %
1,200,000 – 1,800,000 8 %
1,800,000 – 2,400,000 12 %
Above 2,400,000 15 %

VAT

The general VAT in the Maldives is 6%.

Offboarding & Termination

The employer can terminate the employment contract either by giving a notice or making a payment in lieu of notice. The employee can also terminate the contract by giving a notice to the employer.

Notice period in Maldives will be based on the mutual agreement between the employer and employee.

An employee working for less than one year in the same organization is eligible to receive a severance package of one month’s notice or payment in lieu of the same. Whereas if an employee is working in the same organization for 1 – 4 years, they are eligible to receive a three-month notice period or payment in lieu of the same.

Visa and Immigration

Work Visa is issued to a foreigner staying in the Maldives for employment. Acquiring this document will involve medical check-ups, yellow fever vaccination, and applying for a work permit. Expats may apply for all of this online through the Maldives’ Immigration government site

Streamline payroll and compliance for your international workforce

Payroll

Minimum Wage

Overtime Pay

Overtime Type Rate
Weekdays Normal rate X 1.25
Weekends (Fridays to Sunday), Public Holidays Normal rate X 1.50

Visa & Immigration