How to send money to the Maldives in 2026: in dollars or rufiyaa, for work and business on the islands
In 2026 it is easiest to send money to the Maldives in US dollars: resorts, rentals and many services are priced in dollars, and banks pay out rufiyaa at the official rate of 15.42. A transfer from abroad arrives in 1-3 business days, and within the country money moves instantly by phone number, up to $3,300 (50,000 rufiyaa) at a time.
In short
- A transfer in US dollars stays in dollars in a dollar account.
- Rufiyaa are paid out at the official rate of 15.42.
- By phone within the country - up to 50,000 rufiyaa per transfer.
- A salary of up to 60,000 rufiyaa a month is tax-free.
In detail
The Maldives on 8 October 2026: how money gets there now
Routes checked on 8 October 2026. The official rate is 15.42 rufiyaa per US dollar: currency is exchanged by banks and exchange companies licensed by the central bank at its rates. A transfer from abroad arrives in 1-3 business days, in dollars to a dollar account or in rufiyaa, and within the country money moves by phone number in seconds.
| Route | Now | Credited in | Time | What you need |
|---|---|---|---|---|
| Bank transfer to a US dollar account | works | US dollars | 1-3 business days | account number, the bank's international code, the recipient's name |
| Bank transfer to a rufiyaa account | works | rufiyaa at 15.42 | 1-3 business days | the same details |
| Transfer by phone number within the country | works | rufiyaa | seconds | an account at a local bank, up to 50,000 rufiyaa per transfer |
| Money transfer service | works | rufiyaa or US dollars | from a few minutes | the recipient's ID |
Is the sending bank asking why the money is going to the islands? There are usually more options than it seems: a manager will check your case and suggest a route for your sum and timing.
The dollar on the islands: why resorts exchange 40% of their revenue
On 1 September 2026 an amendment to the foreign currency law came into force. Resorts now exchange 40% of their monthly foreign currency revenue into rufiyaa through banks at 15.42, and other companies do so if their foreign currency income exceeds $25 million a year. Previously resorts exchanged $500 per guest; now a share of all revenue is counted. This brings more dollars into banks, and the rate stays the same.
For a private transfer the rule is simple: dollars arrive in a dollar account and stay in dollars, while rufiyaa are obtained at the bank at the official rate. Resorts, villa and boat rentals and many services for visitors are priced in dollars, so large sums are easier to keep in them.
If you need to pay rent, a share in a guesthouse or a contractor's work on the islands, a manager will tell you in which currency and to which account to send the money so that it arrives without an unnecessary exchange.
We will help you send money to the Maldives
Mistakes cost more than fees: dollars sent to a rufiyaa account and exchanged for no reason, a payment to a contractor without an agreement that the bank asks you to explain, a large sum in one transfer without documents on the money. We will help you avoid them: we will choose the route and currency, prepare the source-of-funds documents for the bank and carry out the transfer through to crediting.
Details and terms are with a manager in the chat: the cost depends on the sum and the purpose of the transfer.
Work and business on the islands: salary, tax and payments by phone
Since 27 August 2023 the central bank's instant payment system has worked within the country: money is sent by phone number, email or your own short name, up to $3,300 (50,000 rufiyaa) per transfer. Since 30 July 2026 families and workers have also used it to send money to India, to relatives and as gifts. Through the same system you can request money from another customer for up to $330 (5,000 rufiyaa), and all the country's banks are connected to it.
A resident pays income tax on income in the country and abroad, but a salary of up to $3,900 (60,000 rufiyaa) a month is tax-free, and the top rate is 15%. Since 31 August 2026, 10% instead of 5% has been withheld from payments to foreign contractors without a permanent presence on the islands. If tax on foreign income has already been paid in another country, it is credited: the smaller of the two amounts, the foreign tax or the Maldivian one, is deducted.
A resort worker's salary is paid into an account at a local bank, and money from home arrives there by bank transfer too. A guesthouse owner finds it easier to receive guests' income in dollars to a dollar account and pay tax and expenses in rufiyaa.
Three amounts and three sets of papers for a transfer to the Maldives
- Up to $10,000. The bank checks the name, the account number and the purpose: rent, a holiday, costs of work under a contract.
- $10,000-100,000. The transfer comes with a lease, a boat charter or a contractor's agreement and the sender's account statement for recent months.
- From $100,000. The bank examines the source of the money and the business investment agreement. For such a sum we will suggest the best way to send the money in parts and with which papers.
Documents on the money are gathered following proof of source of funds, and the procedure for large capital is described on the capital relocation page.
Sending money to nearby countries
- How to send money to India: the nearest large neighbour and instant transfers
- How to send money to Mauritius: another Indian Ocean island with homes for foreigners
- How to send money to the UAE: a stopover in Dubai and a bank in the region
- How to send money to Malaysia: a long-term residence permit in Asia
- How to send money to Singapore: a private bank for capital
- How to send money to Sri Lanka: a flat through an inward investment account
When all your capital is moving, it is easiest to start with the capital relocation page.
FAQ
Can you receive dollars in the Maldives without exchanging them into rufiyaa?
How much can you send by phone number in the Maldives?
Do foreigners in the Maldives pay tax on their salary?
Since when have Maldives resorts exchanged 40% of their foreign currency revenue?
We will suggest the best way to send your money
We will choose a transfer method for your amount and country, prepare the documents on the origin of the money for the bank, make the transfer through licensed partners and follow it until the money is credited. Ask your question in the chat - the manager will suggest the best terms and the cost. The legal side with banks and government bodies is handled by Murblz specialists and locally licensed partners.
Details and cost are with the manager in the chat. Describe your situation and we will reply right away.
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