Former President Mohamed Nasheed has voiced support for the government's newly introduced residency-by-investment program, arguing that the initiative could bring significant economic benefits to the Maldives.

Nasheed expressed his backing in a post on X, despite the opposition Maldivian Democratic Party (MDP) submitting a resolution to the People's Majlis calling for the program to be halted.

The former president described the initiative as a potentially valuable economic venture and characterized it as a specialized form of tourism that could create new opportunities for the country.

The government's residency-by-investment program was officially launched at an investment forum in Singapore in July last year.

As part of the initiative, the Maldives entered into an agreement with Henley & Partners to facilitate residency opportunities linked to investment.

The government has said the program is intended to attract international investors, expand real estate investment and strengthen the Maldives' position as a destination for both long-term residents and global investors.

The initiative has, however, faced opposition from the MDP.

The party has submitted a resolution to Parliament seeking to stop the program, raising concerns about its potential implications for national sovereignty.

The resolution argues that the residency framework could eventually result in the emergence of autonomous enclaves within the Maldives and potentially weaken the state's jurisdiction and authority over those areas.

Nasheed's support represents a notable contrast to the position taken by his former party, as the parliamentary debate over the future of the residency program continues.

The government has maintained that attracting investment through the scheme could diversify economic activity and generate new opportunities in sectors including real estate and tourism.