The government has amended relevant regulations to allow the leasing of lagoons and offshore sea areas—those not under the jurisdiction of island councils—for aquaculture development.
Previously, aquaculture activities were restricted solely to uninhabited islands, as governed by the Uninhabited Islands Act.
This regulatory shift is part of the government’s broader initiative to enhance the fishing sector, with a strong focus on promoting sustainable aquaculture. As part of these efforts, the Ministry of Fisheries and Ocean Resources has revised the 2020 Aquaculture Regulations to include provisions for leasing lagoons and sea areas beyond the administrative control of inhabited islands.
Under the amended regulations, these areas may be leased to Maldivian citizens, private enterprises, foreign investment companies, or corporate societies registered in the Maldives.
To qualify for leasing, proposed aquaculture projects must demonstrate clear economic and social benefits for the country. Applicants are required to show adequate financial and technical capacity to implement and sustain the proposed operations. Additionally, the selected areas must be deemed environmentally suitable for the intended activities.
For uninhabited islands leased under these provisions, the minimum annual land rent has been set at USD 0.006 per square foot. For lagoon and offshore sea areas not connected to any island, the minimum rent is USD 0.003 per square foot per year. The amendments also grant the Ministry the discretion to waive rental fees for the first 36 months of lease agreements pertaining to aquaculture projects.