Israeli dual nationals would also be barred from Ras Malé property deals: President Dr. Muizzu

President Dr Mohamed Muizzu has said Israeli citizens holding a second nationality would also be barred from acquiring property interests in Ras Malé under the government’s proposed real estate legislation, insisting that the framework would leave no loopholes.

Speaking at a press conference at the President’s Office on Monday, President Dr. Muizzu was responding to a question about whether Israeli nationals could circumvent the proposed restrictions by using passports issued by other countries.

The President said the Real Estate Bill would impose restrictions on Israeli participation beyond those relating to entry into the Maldives.

He said prospective investors would be subject to Know Your Customer (KYC) checks and thorough background verification before receiving approval. Holding or travelling on another country’s passport would not, he maintained, allow an Israeli citizen to bypass those checks.

President Dr. Muizzu also referred to the government’s proposed immigration changes, saying they would establish an unconditional prohibition on entry using Israeli passports.

The government has submitted the Real Estate Business Bill to Parliament to establish a regulatory framework for the sector. Its objectives include registering developers, defining their rights and obligations, protecting buyers and strengthening oversight of property businesses.

The bill was submitted on the government’s behalf by Henveiru North MP Ahmed Aifaan.

The proposed legislation would prohibit the sale of property leasehold rights within designated Integrated Real Estate Zones to Israeli citizens and entities directly or indirectly owned by them, including transactions undertaken for their benefit.

It would also prohibit subleasing land to such parties, while transactions that breach the restrictions would be considered void.

The framework concerns leasehold rights rather than outright foreign ownership of land.

Foreign land ownership remains prohibited under the Constitution, and the bill must complete the parliamentary process before its proposed provisions become law.