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Kuala Lumpur - Asia’s beating heart Located in the centre of Malaysia’s capital, Kuala Lumpur, we are able to support growth-orientated businesses with a number of secretarial, HR, payroll and other corporate services, taking care of many regulatory needs. Here are many reasons to do business in Malaysia including: - Low corporate tax rate The corporate tax rate in Malaysia is 24% with the rate for start-ups and SMEs is 17% (certain conditions apply) on the first RM500,000 with 24% applied on the balance. There are approximately eight taxes to be paid depending on the type of company including taxes on interest, vehicles and real estate. - Good incentives and support There are a number of incentives and support for companies looking to invest in Malaysia. Pioneer Status (PS) or Investment Tax Allowance (ITA) can provide up to 100% of income tax exemption on statutory income for companies in the manufacturing sector. There are many other sector-specific incentives and tax breaks on offer. - Robust employment laws Malaysia has an educated and multi-lingual society and clear and robust employment laws. Both employees and employers are required to pay into the employee’s social insurance via Malaysia’s Employees’ Provident Fund (EPF) and the Social Security Organization (SOCSO). Employment law in Malaysia is governed by the Employment Act which employers are expected to know

We provide you with the best solutions to structure your business and your life plans. MALAYSIA Located in the heart of Southeast Asia, Malaysia is a leading economy in one of the fastest-growing regions in the world, providing a dynamic and growing business environment. The Malaysian government has adopted a new economic model to achieve developed nation status by 2020, and this is translated in the implementation of market-friendly policies and regulations that are designed to generate growth and attract new business. A growing Middle Class has driven domestic consumption, supporting a vibrant retail sector. The country has a strong electronics and manufacturing sector that generates exports, and a successful start-up community. Malaysia is also an emergent regional hub for services, including financial services, information and communications technology and logistics. The Malaysian government has been championing its digital economy for many years through the Malaysia Digital Economy Corporation that launched the Digital Free Trade Zone in 2017 to capitalise on the growing internet economy by providing a platform where companies in the e-commerce industry can conduct business and services. Furthermore, Malaysia possesses a well-educated workforce who speak a high standard of English and other regional languages such as Bahasa, Cantonese, Mandarin and Tamil. For any company looking to expand into Asia, Malaysia makes clear sense as a starting point. Services Alpadis’ Kuala Lumpur office, located in the centre of the city, offers a wide range of services for local and international firms who decide to make Malaysia their home. Their experts will help you navigate the sea of local rules and regulations required to establish or expand your presence in this country, ensuring you are in full compliance at all times. Company Formation Services ‫خدمات تشكيل الشركة‬ Secretarial Services ‫خدمات سكرتارية‬ Accounting Services ‫خدمات المحاسبة‬ HR and Payroll Services ‫خدمات الرواتب‬

Accessible experts across the globe Alpadis’ Kuala Lumpur office is located in the centre of the city close to the iconic Petronas Twin Towers and within the vibrant and dynamic central area. Our team in Malaysia will guarantee that our clients’ structures will meet all requirements and statutory obligations, striving to keep things simple and manageable. Spoken languages: English, German, French, Italian and Malay. Alpadis (Malaysia) Sdn. Bhd. Suite 3335, Level 33 Menara Ilham 8 Jalan Binjai, 50450 Kuala Lumpur Malaysia Tel: +60 (0) 3 2117 5068 | Email: [email protected] Accreditations and Membership Moritz Gubler is based in Kuala Lumpur, Malaysia and leads the Group’s operations in Malaysia including Labuan, where Alpadis Group also have an office. Roles that Moritz oversees include client servicing and business development. Moritz hails from Switzerland and is a keen mountaineer. He has spent a significant portion of his professional life in the Far East including two years in China (teaching English as a foreign language) following the completion of his law degree, where he picked up Chinese. A lawyer by training, Moritz has over 25 years’ experience and has worked with some of the world’s leading firms including UBS, Coopers and Lybrand (now PwC) and LGT Bank in Switzerland and Labuan (Malaysia). He speaks English, German, French and Italian and brings with him deep knowledge of Asian culture and business practices as well as legal, compliance and regulatory expertise.

Labuan Labuan Strategically located near Asia’s main financial and business hubs such including Hong Kong and Singapore, Labuan International Business and Financial Centre (Labuan IBFC) was set up in 1990 on the Island of Labuan, one of the three federal Territories of Malaysia. Labuan IBFC has its own laws and regulations for financial activities carried out within this territory, separate from domestic Malaysian laws. A preferential tax regime, minimal foreign exchange controls, the absence of capital gains and withholding taxes, the availability of a multilingual and skilled local workforce and competitive operational costs are just some of the benefits of doing business in Labuan IBFC. Labuan has also become a very attractive hub for wealth management solutions, offering a number of vehicles to high- net-worth individuals to consolidate and protect their wealth, including private and charitable foundations. Our Labuan office helps companies set up and remain in compliance with the jurisdiction’s regulatory and tax requirements. Labuan is a successful mid-shore jurisdiction and Alpadis Group also provide a number of accounting, tax, wealth planning and licensing services

True to our roots, we have carried the Swiss quality label across various Asian jurisdictions, whilst ensuring consistent high-quality services and enhanced cross-border capabilities for our international clients.

LABUAN Strategically located near Asia’s main financial and business hubs such including Hong Kong and Singapore, Labuan International Business and Financial Centre (Labuan IBFC) was set up in 1990 on the Island of Labuan, one of the three federal Territories of Malaysia. Labuan IBFC has its own laws and regulations for financial activities carried out within this territory, separate from domestic Malaysian laws. This federal territory is regulated by a one-stop-regulator, the Labuan Financial Services Authority (LFSA). Since its inception, Labuan IBFC has evolved into a successful mid-shore jurisdiction serving the growing demands for business expansion and international financial services. A preferential tax regime, minimal foreign exchange controls, the absence of capital gains and withholding taxes, the availability of a multilingual and skilled local workforce and competitive operational costs are just some of the benefits of doing business in Labuan IBFC. Labuan has also become a very attractive hub for wealth management solutions, offering a number of vehicles to high- net-worth individuals to consolidate and protect their wealth, including private and charitable foundations. Services Alpadis’ Labuan office has a dedicated team of highly skilled and experienced professionals that will execute the set up and administration of the entity that suits your needs in full compliance with Labuan regulatory and tax requirements. Our team will also advise on the most suitable vehicles for wealth planning purpose, aiming to optimise and protect your assets and investments for your family and future generations. Company Formation Services ‫خدمات تشكيل الشركة‬ Secretarial Services ‫خدمات سكرتارية‬ Accounting Services ‫خدمات المحاسبة‬ Tax Services ‫الخدمات الضريبية‬ HR and Payroll Services ‫خدمات الرواتب‬ Licensing Services ‫خدمات الترخيص‬ Wealth Planning ‫تخطيط الثروة‬

Alpadis Group has had a presence in Malaysia since 2011 and it holds a Labuan Trust Company Licence and a Fund Administration Licence. Alpadis’ office in Labuan, also dubbed the pearl of Borneo, is located in the centre of the main town, close to the ferry terminal and within easy reach of restaurants and excellent duty-free shops. Spoken languages: English, German, French, Italian, Malay, Mandarin, and Cantonese. Alpadis Trust (Labuan) Ltd., U0065, 3rd Floor Jalan OKK Awang Besar 87000 F.T. Labuan, Malaysia Tel: +60 (0) 87 595 700 | Email: [email protected] Accreditations and Membership Ken Vui Chau is the Chief Financial Officer (CFO) and Head of Accounting (Labuan) for Alpadis Group, handling all accounting aspects for the Group from his office in Labuan. Chau covers taxation, compliance, financial planning, forecasting and cash flow among other areas, as well as working with Alpadis Group clients to assist them with various financial reporting and taxation matters. Chau began his career with KPMG Malaysia, before moving on to leading trust and fiduciary services firms. He is a Certified Public Accountant with both the Malaysian Institute of Certified Public Accountants (MICPA) and CPA Australia, and a Chartered Accountant with the Malaysian Institute of Accountants (MIA). He is also an approved Trust Officer by Labuan FSA He has worked in London, Singapore, Switzerland and Malaysia, and has led teams and overseen regional operations in his past experiences. He is regularly asked to mentor and train younger team members and prides himself on making things happen and solving problems. Born and bred in Sabah, East Malaysia, Chau enjoys reading, good movies, running and a game of badminton. He also speaks five languages: English, Malay, Mandarin / Cantonese and Hakka.

Dubai Dubai Situated at the heart of the Africa-Middle-East-Asia triangle, Dubai is a multicultural city with two-thirds of the world’s population within reach on flights of eight hours or less, allowing it to serve as a nexus of commerce between East and West. Dubai’s rapid growth, strategic location and favourable business culture have led it to gain the reputation of being an easy place to do business. UAE does not have any corporate or personal income Taxes, and there is no Wealth Tax and no restrictions on Capital and Profit repatriation. However, with seven emirates and more than 40 free zone areas within individual emirates across the UAE, it can be a challenge to do business here. There are more than 20 free zones in Dubai alone, each with its own laws and regulations, making business in the UAE can be daunting and complex. Furthermore, in addition to its friendly business environment Dubai has established itself as a leading – and unique – country for HNWIs and Corporate Entities to live and Dubai enjoys an advanced and reliable infrastructure.





DUBAI Our UAE team of qualified and experienced advisors provide a range of services for existing businesses and residents, as well as individuals and entrepreneurs looking to establish themselves in Dubai. We can guide you on setting up your business in the UAE, and on becoming a UAE resident. We will advise you on the right solution and take you through the entire company formation process from the initial transaction to the management of all administrative and financial requirements, to securing residency should you require. For HNWIs in Dubai we offer a number of Family Office, Succession and Wealth Planning services. For established companies we provide a range of Corporate Services, including Payroll, Accounting, Visa Management and Treasury services. Company Formation Services ‫خدمات تشكيل الشركة‬ Company Administration Services UAE Residencies ‫خدمات سكرتارية‬ Succession Planning Solutions ‫إقامة دولة الإمارات العربية المتحدة‬ ‫تخطيط الثروة‬

Ideally positioned between Downtown area and the prestigious Dubai International Financial Center, Alpadis (Middle East) Limited – Dubai Branch offers all Alpadis Group products and services. Our highly qualified and diverse team, together with a carefully selected network of specialised partners, offers you the expertise, skill and results that global business owners can rely on. Using our deep local market expertise and a unique approach to company incorporation, financial and residency planning, we will design bespoke solutions and execute them on behalf of you, ensuring a smooth and worry-free experience. We speak English, French, Arabic, Greek, Filipino, Malayalam and Hindi. Alpadis Middle East Limited – Dubai Branch Capricorn Tower 1204 SZR, (DIFC Area) P.O. Box 212 997 Dubai United Arab Emirates Tel: +971 4 491 9129 | Email: [email protected] Accreditations and Membership Nicolas Rochette is the Manager Director of Alpadis Group in Dubai, where he manages the daily operations and administration of the company. Nicolas has over 10 years of experience working with well-known multinational companies in Banking, Finance and Corporate Structuring. He holds a Master’s Degree in Banking from Grenoble Graduate School of Business and has a Bachelor’s Degree in Economics and Management. Prior to joining Alpadis Group, Nicolas spent five years in charge of the Dubai office of Loggerhead Partners. In his spare time, he is a motorcycle enthusiast, traveller, avid reader, and volleyball player. He is also PADI certified and engaged in the fight for the conservation of oceans and coral reefs.



Fact Sheet

The Republic of Maldives has approximately 1,192 inhabited and uninhabited islands, an area of 90,000 square kilometers in the Indian Ocean. Famous for its natural beauty with white sand beaches and crystal-clear waters, the Maldives is ranked as one of the best diving destinations in the world. High-end tourism has propelled the economy's substantial expansion over recent decades and enabled the Maldives to gain middle-income status. According to World Travel & Tourism Council, the direct and total contribution of Travel and Tourism to the Maldives Gross Domestic Product (GDP) was 52.4% and 96.5% of the total GDP in last five years, respectively; thus, making tourism the critical industry for the economy. The Ministry of Tourism plays a vital role in shaping the tourism landscape in the Maldives. Boosting tourism arrival, the government has planned to expand the country's main gateway airport in Malé and to build new airport around the islands.

The Republic of the Maldives is a sovereign archipelagic nation positioned in the Indian Ocean. Notably, the South Asian Island nation has no counterpart in the entire world in terms of its unique geography and topography. Maldives, the sunny side of life is blessed with magical and breathtaking displays of sunshine for the better part of a year. Similar to tropical countries, the Maldives enjoys a dry and wet season. Conveniently, the hot and humid weather is complemented with cooling sea breezes and periodic rain. Facts & Figures Capital Malé Official languages English · Dhivehi Ethnic groups (2019) ≈100% Maldiviansa Religion Islam (mandated by law) Demonym(s) Maldivian Government Unitary presidential republic • President Ibrahim Mohamed Solih • Vice President Faisal Naseem • Speaker of the Majlis Mohamed Nasheed • Chief Justice Ahmed Abdulla Didi • Legislature People's Majlis • Independence from UK 26 July 1965 • Current constitution 7 August 2008 Area • Total 298 km2 (115 sqm) (187th) Population • 2016 estimate 427,756 (175th) • Density 1,102.5/km2 GDP (PPP) 2018 estimate • Total $7.396 billion (162nd) • Per capita $20,228 (69th) GDP (nominal) 2018 estimate • Total $4.825 billion • Per capita $13,196 Currency Maldivian rufiyaa (MVR) Time zone UTC+5 (Maldives Time) Date format dd/mm/yy Driving side left Calling code +960 ISO 3166 code MV Internet TLD .mv

His Excellency Ibrahim Mohamed Solih is the 7th President of the Republic of Maldives

ECONOMIC OUTLOOK In 2015, growth in Maldives' GDP came mainly from substantial public and private foreign investment, which doubled growth in the construction sector to 40%. According to the Asian Development Bank, the Maldivian government planned for a growth of 140% to 9.1 billion rufiyaa's (almost 60 million USD) in its public sector investment program (fueling construction and real estate development). The government also plans to scale up investment in public infrastructure particularly related to trading and industrial ports and the country's international airport; This would have transformational implications for the Maldives with the ability to change it from a niche luxury market to a broader, more diverse market. ACCESSIBILITY International Visitor Arrivals The Maldives benefits from steady Leisure demand for hotel and resort accommodation throughout the year. Total international passengers arriving in Ibrahim Nassir International Airport has steadily grown from 2010 to 2015 with a CAGR of 9.3%. According to statistics by the Ministry of Tourism, the total international arrivals to the Maldives were approximately 1.3 million in 2018. However, the rate of growth in 2019 was increased by 7% only. Despite the slower growth, given the government's efforts to maintain the Island’s attractiveness as a destination, it is expected that the performance will potentially recover in the mid to long term. Tourism Target: Visit the Maldives campaign is expected to achieve 1.6 million tourist arrivals. As of 2020, Maldives managed to attain approximately 30% of the target. TOURISM INDUSTRY Ibrahim Nassir International Airport, the international airport of Maldives in Malé, is well connected to key global markets in the world. British Airways, China Eastern Airlines, Emirates and Korean Air amongst others fly daily to and from this airport. Recently, Maldives has been directly connected with Sri Lanka by SriLankan Airlines. At its current capacity, the airport can handle approximately 2.3 million passengers annually. Chinese state-owned enterprises have seen higher contribution to investments across the country. In December 2015, Maldives and China signed an agreement for a US$373 million loan for the development of the new runway at Ibrahim Nasir International Airport. Connectivity to resort destinations is generally by chartered seaplanes, speed boats or airport ferries. Hotel operators are also investing in their airplanes to fly their guests around the Maldives. Tourist arrivals to the Maldives recorded monthly averages of a little over 103,000 from 2012 until 2018, reaching an all-time high of 144,000 in February of 2018. At the end of September 2018, the Maldives has seen an 8.3 percent increase in tourist arrivals, comparative to the same period in 2017 and every year.

SOURCE MARKETS Huge demand for tourism in the Maldives is mainly dependent on international travels. The Chinese are an essential demand segment, which made up 29% of all international arrivals in 2018 and have maintained their top position as a source market over the last five years. However, despite being the high source market for the Maldives, there has been a decline in numbers from approximately 364,000 Chinese travelers in 2017 to 360,000 in 2018 with an increase in the European source markets to balance. The top three international source markets in 2018 remained consistent with 2017 rankings; China, Germany and United Kingdom contributed 29%, 9%, and 8%, respectively to the total international arrivals to the Maldives. RESORT MARKET & PERFORMANCE Resort Market & Performance According to the Ministry of Tourism (MOT), the number of luxury and upscale resorts in the Maldives has remained relatively stable over the past few years. A total of 11 upscale and luxury resorts, comprising 3,330 rooms are planned for construction. This new pipeline will increase places supply to 21,668. Therefore 28 new resorts have been constructed over the years of 2016-2019. The International Leisure segment has predominantly driven tourism in the Maldives. However, many resorts suffered from the weakening of the global economy, especially in 2015 as the island nation had previously relied heavily on feeder markets from Russia and China. Due to the weakening of the Russian Rouble and the Chinese Yuan, the market-wide average daily rate (ADR) and occupancy (OCC) were lower as compared to other regional cities. With both essential markets facing an uncertain economic situation, resorts have yet to see an improvement in performance this next two years. HOSPITALITY TRANSACTIONS Since 2013, funds from Singapore have accounted for 73% of all transaction volume in this market. The next most significant sources of funds are from Thailand and the United States. One of the largest transaction in the past years was the sale of Angsana Velavaru in 2013 for approximately US$71 million. Other notable investment transactions include the Jumeirah Dhevanafushi and Six Senses Laamu, investments coming mainly from Arab Emirates. Sale of the Cheval Blanc to Royal Abu Dhabi family next to Coral Island. Primary Category New investors: Middle East/Africa Investors Secondary Categories: Financing, News, Ownership ABU DHABI, United Arab Emirates - The Middle East and Indian Ocean are seeing healthy investment numbers overall, but a closer look at investment in the region reveals most of the money is finding its way to one or two large deals, according to speakers at the recent Gulf & Indian Ocean Hotel Investors’ Summit. “In the Indian Ocean, we’ve seen $300 million worth of transactions, an increase of 65% over the previous year, but that is mostly down to the purchase of one resort in The Maldives,” said Nihat Ercan, managing director of investment sales, Asia, at JLL Hotels & Hospitality Group. That impressive deal was the $200 million sale, to an undisclosed owner, of the Cheval Blanc Randheli next to CORAL ISLAND FOR SALE Ercan said. The price per key was approximately $5 million for that property, which has an average daily rate of approximately $1,700. “Over the last six years, 34% of transactions (across the Indian Ocean) have been institutional in nature. This bodes well for liquidity,” Ercan said. Ercan added The Maldives has become especially investor- friendly, but that is not necessarily the situation across the region. The growing interest in hospitality assets in the Maldives from global institutional investors has been able to keep the investment market in the nation very healthy in the next decade.

TOURISM SUSTAINABILITY The Maldives tourism industry flourishes in a delicate environmental balance, and its further evolution is vulnerable to external challenges. Efforts and policies have been made and need to be augmented to ensure long-term tourism sustainability in economic, environmental, legislative, and social aspects. The government is also scaling up infrastructure investment such as the expansion of the country's international airport and other smaller domestic airports located in the southern region of Maldives, new airport has been built Maafaru Airport next to Coral Island. This is expected to boost tourism capacity in the Maldives and allow opportunities for the emergence of different tourism products such as new types of attractions, resorts, trading and agriculture etc. As a result, tourism growth is expected to be sustained as the Maldives diversifies its tourism offerings and attracts new markets into the country. SUSTAINING INVESTMENT INTEREST IN THE MALDIVES Investment interest is expected to grow as the Maldives becomes a more sustainable destination. Since 2014, Maldives has seen a handful of foreign direct investments in the tourism sector. In July 2014, the Maldivian government and Dutch Docklands Maldives undertook the Five Lagoons Development together. The project involves the construction of five humanmade floating lagoons on 8 million square meters of water with US$10 million worth of villas, a free 18-hole golf course, a conference complex and four individual ring-shaped floating islands that will each house water villas, a marina, restaurants, bars and retail shops. In June 2015, China-based Guangdong Beta Ocean Limited was the first to develop a five-star resort with 71 rooms on V. Kunaavashi Island in a joint venture with a Maldivian Company. The Maldives is also much sought after by many hotel companies for establishing international brand presence; additionally, it offers attractive returns on investment. To sustain the interest of foreign investors, government policies have been improved to guarantee the security of these investments by ensuring the following (according to the Ministry of Economic Development and Tourism): • No foreign exchange restriction • No restrictions on the repatriation of earnings and or profits • No ownership restrictions and freedom to operate as wholly-owned foreign investment if desired • 100% duty free for the construction imports • Extension of long-term land leases (up to an additional 21 or 50 years) depending on the scale of the investment • Provision for overseas such as British Law arbitration of disputes • Legally backed investment guarantee

PROCEDURE FOR FOREIGN INVESTMENTS The Land Act allows foreigners to lease land on Foreign investments in the Maldives have primarily involved resort management, but also include telecommunications, inhabited islands for up to a maximum of 50 years, but accounting, banking, insurance, air transport, real estate, courier there is no formal process for registration of leasehold services, and some manufacturing. titles. The Uninhabited Land Act allows foreigners to lease land on uninhabited islands for purposes other than The government encourages investment projects that: tourism for a maximum of 21 years for investments amounting to less than USD1 million and up to a maximum • Establish and enhance the delivery of essential services required of 50 years for investments over USD10 million. to be provided by the state The Ministry of Tourism develops regulations relevant to the tourism sector. Specific business sectors require sector- • Promote economic diversification and demonstrate potential to level operating licenses from other ministries/agencies structurally reduce the country’s current dependence on the including fisheries and agriculture, banking and finance, tourism sector health, tourism, transport, construction, and education. A subsequent 2014 amendment allows the extension of • Expand the export base of the economy and support import resort leases up to 99 years for a payment of USD 5 million. substitution; The changes aim to incentivize investors, make it easier to obtain financing from international institutions and • Enhance human capital development and employment increase revenue for the government. Leases can be opportunities for Maldivian's renewed at the end of their terms, but the formula for assessing compensation value of a resort at the end of a • Promote innovative product development and new markets for contract has not been developed. For now, its renewed the tourism sector automatically same terms. The approval procedure for foreign investments is as • Bring enhanced improvements to the health and education follows: sectors in terms of service delivery, quality, and accessibility • Submit a completed Foreign Investment Application form • Expand and develop sports infrastructure and services in the to the Ministry of Economic Development Maldives - The Foreign Investment Application Form is available from the Ministry’s website; www.trade.gov.mv.Walk-in • Promote the use of renewable energy in the Maldives consultations are available for foreign investors who may • Promote incremental social and economic benefits from the wish to discuss their proposals before applying. • Receive approval available natural resources. - The standard processing time is three working days, and however, if relevant ministries must be consulted, the approval may take 10-14 days. • Register a business vehicle - Once approval is received, an investor must register as a company, partnership, or a company which has been incorporated in another jurisdiction. Application forms for registering as a legal vehicle are available from the ministry’s website. • Sign the Foreign Investment Agreement with the Ministry of Economic Development - This Agreement outlines the terms and conditions related to carrying out the specific business in the Maldives. For tourism sector investments, a Foreign Investment Agreement is not required as the land lease signed with the Ministry of Tourism governs all matters relating to tourism businesses in the Maldives. • Obtain licenses and permits - Sectors which require operating licenses include fisheries and agriculture, banking and finance, health, tourism, transport, construction, and education.

TAX AVOIDANCE TREATY LEGAL SYSTEM & JUDICIAL INDEPENDENCE The Maldives signed a Double Tax Avoidance Treaty The sources of Law in the Maldives are its with the United Arab Emirates in October 2017. In April constitution, Islamic Sharia law, regulations, 2016, Maldives and India signed an agreement to avoid presidential decrees, International Law, and English double taxation of income derived from air transport Common Law, with the latter being most influential and an agreement to share information on taxes, both in commercial matters. The Maldives has a of which are currently in force. In 2005 Maldives signed Contract Law (Law No. 4/91) that codifies English a double taxation avoidance treaty which is a limited standard law practices on contracts. multilateral agreement between members of the South Foreign parties can invest in the Maldives through Asian Association for Regional Cooperation (SAARC) for the Foreign Investment Law or the Special the avoidance of double taxation and mutual assistance Economic Zones (SEZ) Act. in tax matters. The Maldives currently does not have Foreign investment in the Maldives is governed by personal income taxes, although bank profits and Law, covering agreements between the business profits are taxed and there is a goods and government and investors. services tax on the tourism sector and a general goods The Business Registration Act (18/2014) requires and services tax. Under the Business Profit Tax Act, a foreign businesses to register as a company or non-resident owner or charterer of a ship or aircraft partnership. The Companies Act governs the may be exempt from the fee if the commissioner registration as well as the regulatory and general of taxation of Maldives is satisfied that the operational requirements for public and private taxpayer’s country of residence grants a reciprocal companies. The Partnership Act of 2011 regulates treatment for business profit tax or any other similar the formation and regulation of partnerships. charge to a Maldivian-resident taxpayer. The Maldives Foreign investments are currently approved for an signed its first bilateral free trade agreement with China initial period of five years, with the option to in December 2017. The Maldives and the United Arab renew. Emirates signed an Agreement on the Promotion and Reciprocal Protection of Investments in October 2017.







Visit the land full of life Through 6278 km Croatia’s coastline offers an exciting challenge of 1244 islands, islets, rocks and reefs with thousands of wet and dry berths available all year, modern marinas with yachts to hire and professional sailing courses to attend. It’s exceptionally hard trying to construct a list of the best destinations in Croatia as there’s so many wonderful destinations for a holiday, making it rather hard to choose.

In Conversation with Darko Supuk ‫مقابلة مع داركو سو بوك‬

FIVE minutes with Darko Supuk Darko Supuk - Founder of Touch Adriatic 1. Please tell us a bit more about your company and what makes you so special ? Actually, we are not a special company, just a 3. What has been you experience with good one. We have years of experience and a lot international clients so far, in particular from the of knowledge about Croatia and yachting. That Middle East? enables us to successfully anticipate the best solutions for our clients and to deliver a good That these people are hard negotiators We had product, that is pleasant holidays on board yachts clients from Middle East, for us they are in this case. What differs us from many is that we demanding clientele, but once we agreed on the make every vacation with careful individual framework, we never had problems. What I have approach, we don’t have generic programs, and learned for experience is that these clients require that is simple key for having satisfied clients from more crew on yacht and highest level of service. all over the world. Personally, I feel that by living on the Med we are somehow not far from the mentality and culture 2. Beside yacht- charter and services you also of Arabic people so we can understand each other offer tailor-made tours across the Adriatic well. islands. Tell us more about that. Although our core business is yacht charter, we 4. Croatia is a very beautiful country and is “full understand that yachts are only ‘tools’ for a good of life” as your slogan states, appealing to our vacation. Therefore, we follow wishes of our reader audience of wealthy Arab families from clients, we have one person in the company that is the GCC - how in your own words would you specialized only for non-yachting issues. The describe it as the perfect destination ? demands can vary a lot, from reserving airport slots for client’s private jets and helicopter First of all, it is safe. And it is not crowded, has sightseeing, to hiking on the islands, private good food and very warm people, it is one of the shopping, exclusive diving or surfing lessons and of last beautiful oasis of Mediterranean from course ‘entertainment package’ of reservations yachting point of view. And you have many the best clubs, hotels and restaurants… When we options, i.e., you are not bond to mainstream summarize all our client’s interests, we can options for tourist. And unfortunately, like in the relatively easy make tailored tour for them. Many whole Med you have to avoid hot spots in the clients are returning to us because we know their heart of the season. My advice would be to avoid habits and we are matching their lifestyle in a peak of the season and to come here early July or good way. late August, when you can really enjoy the area.

5. Coming back to renting a yacht, what services 6. Finally: What’s the best piece of advice given are included if a client is coming to you and to you? would like to hire a crewed yacht for a bigger tour across the ocean – if you can elaborate on To treat every being at least as nice as I would that a bit. treat myself, but this is from life’s perspective. From business point of view, good advice for me We didn’t have clients who sailed across the ocean was to think over and always build my knowledge chartering, and I doubt if my colleges had. But we as the most important asset one can have. had people chartering in Croatia and Caribbean from us, we had some really attractive Antarctica Mr Supuk we thank you for the interview. charters, I want to say that sailing across the ocean is for real sea men, and we cover the pleasure part of yachting.

Advertorial ‫تاج ا درياتيكي‬ CHARTER FREEDOM TAILOR MADE UNIQUE JOURNEY ABOUT US We are the team of experienced enthusiasts in constant search for the product that will make our clients satisfied and fulfilled. For over 14 years we are engaged in publishing the worldwide famous magazine Yachts in Croatia, constantly developing the network of business partners all around the world. We have covered the stories, the travels all trough the Adriatic, interviewed hundreds of famous people, presented places to visit, destinations not to be missed, and constantly reporting about the news in the maritime industry of sailing boats and yachts. Time has come that we spread out to travel industry and meet the expectations of many travelers who search for more value, rich experience, If you are looking for the partner in planning and organizing your trip, holidays; family or corporate we are at the right people to speak with. All our agents are professionals with years of experience in field of travel and accommodation and will be at your disposal for all the time of your journey. We will answer your requests promptly and try to get to the bottom of the desired tailor-made product. individual approach and high level of satisfaction.. You are more than welcome to experience Adriatic with us. ‫معلومات عنا‬ ‫ نشارك في نشر‬، ‫ عا ًما‬13 ‫ منذ‬.‫نحن فريق من المتحمسين ذوي الخبرة في البحث المستمر عن المنتج الذي سيجعل عملائنا راضين والوفاء‬ ‫مجلة‬Yachts ‫ لقد غطينا‬.‫ ونعمل دائ ًما على تطوير شبكة شركاء الأعمال في جميع أنحاء العالم‬، ‫الشهيرة في جميع أنحاء العالم في كرواتيا‬ ‫ ووجهات لا‬، ‫ وقدمت أماكن للزيارة‬، ‫ وقابلت المئات من الأشخاص المشهورين‬، ‫ والسفريات في جميع أنحاء البحر الأدرياتيكي‬، ‫القصص‬ .‫لأخبار في الصناعة البحرية للقوارب والإبحار‬.‫عةوانلقبدمحرتيقاةرليلقروباارستبمروالرإبعحانرا‬، ‫ ونقدم تقارير باستمرار عن الأخيبنابرغ فييتفالويتصهناا‬، ‫ينبغي تفويتها‬ ‫ إذا كنت تبحث عن الشريك في‬.‫لقد دخلنا في صناعة السفر لتلبية توقعات العديد من المسافرين الذين يبحثون عن تجربة أكثر قيمة وغنية‬ ‫ جميع وكلاؤنا محترفون لديهم سنوات من‬.‫تخطيط وتنظيم رحلتك والعطلات ؛ الأسرة أو الشركات نحن في الأشخاص المناسبين للتحدث‬ ‫ سنقوم بالرد على طلباتك على الفور ونحاول الوصول إلى‬.‫الخبرة في مجال السفر والإقامة وسيكونون تحت تصرفكم طوال فترة رحلتك‬ .‫جربة الأدرياتيكي معنا‬.‫ة أانلأتدرميارتيحكبي بمكعنلات‬.‫ب‬.‫م أسنتوتىم ارلحربضاب الكعلاتلجير‬.‫المنتج المصمم حسب المطنلتجب الواملمنصهممج الحفسردبيالوطلمسبتووالىمانلهرجضالافالردعالييو‬ T. +385 91 600 22 54 www.touchadriatic.com

YACHT CHARTER Charter experiences and long-lasting memories Touch Adriatic provides an exclusive charter experience in one of the most beautiful and remote parts of the world, Croatia. What better way to discover the Adriatic Sea, the most indented section of the Mediterranean, than on a luxury yacht? Our extensive fleet of luxury yachts offers a wide range of options depending on your taste and budget. We feature the following categories of yachts: Luxury yachts, Catamarans, Motor yachts and Sailing yachts. Simply select the type of yacht you prefer and give us the available budget. This is where we step in with our expertise to help you make the right choice and create your ideal charter experience.



CASSIOPEA Length: 34m Cabins: 5 Berth: 10 Year 2010 Price from: 85000 EUR Cruising speed: 31 knots Home port: Trogir Crew: 6







Lagoon 52 Length: 15.85m Year: 2014 Berth: 10 Crew: 1 Price from: 8000 EUR







Princess Fly72 Length: 22.35m Year: 2011 Berth: 8 Crew: 2 Price from 29000 EUR







ADLER SUPREMA Length: 23.11m Year: 2018 Berth: 6 Crew: 2 Price from: 25000 EUR





Tours Charter tours tailored to meet your lifestyle preferences! Pure freedom and flexibility incorporated into each day while cruising through the remarkable beauty of the Adriatic Sea. Wild coast, secluded bays, rural escapes, highest peaks, … leave it to us to make your dream come true! Cruising on the waves of the past Adriatic coast can proudly be presented as the jewel of historic monuments, cities, palaces and a perfect destination for those who like to hear and get to know more about cultural heritage and history of our cities and islands. Tour will include sailing through South Adriatic cities and islands from Dubrovnik to Split. Each tour is tailor-made according to your wishes! For all the info regarding city and heritage tours our team is on your disposal. Come and join us for the cultural tailor-made tour while on board!

TAILOR MADE SAILING TOUR from DUBROVNIK to SPLIT: 1st day DUBROVNIK Arrival in DUBROVNIK, pearl of the Adriatic, UNESCO protected walled city, where we will have a day and night to explore its Old city, nearby islands. Walk along Stradun (the main street in Dubrovnik), climb the perfect preserved city walls, visit historical buildings that will take your breath away… Boarding on the yacht in the late afternoon and meeting a crew. You can have dinner on board or eat in the most unique places in Dubrovnik’s restaurants. Overnight. 2nd day ISLAND MLJET We start our morning cruise to island of MLJET, a National park island, so wherever we stop it would be a great experience. We would recommend port of Polace, calm, relaxing quiet and protected by the surrounding islands. It has the third largest roman architecture in Croatia and since it is in vicinity of 2 natural small lakes, which you can explore by walking or by bike. In larger lake, on a small island there is benedictine monastery from 12. century, something you don’t want to miss. After that we can go to Saplunara, stunning beach. 3rd day ISLAND KORCULA After breakfast, we will continue our cruise to island of KORCULA. Korcula town is like Dubrovnik on a smaller scale, but less overcrowded, so a scroll through the old town (shape like a fish bone) is already a big surprise. Allegedly Korcula is the birthplace of the famous merchant and traveler Marco Polo, so Korcula town seems to be a place where time stands still. Hike tour inside the island will take you to the historic times, and natural preserved sites completely unknown to the tourists. The night will be spent in a marina in the old city. In recent years, gastro-enology scene has flourished so you can explore the local dishes. 4th day ISLAND HVAR Next stop is the port of Stari Grad, on island of HVAR which is regarded as the oldest town in Croatia, and architecture is still pretty much preserved, where house-fortress of local renaissance poet is something to see. A very safe port is also a center point for the exploration of the island, so we can take a hike through UNESCO site, a fertile field behind Stari Grad that is cultivated from Greek times. For the night, a trip to nearby rural area of Dol with traditional-domestic cuisine (hunters' menu). Overnight. 5th day ISLAND VIS In the morning, after breakfast, the plan is to go to island VIS, to port of Komiza famous for its fisherman history, and its most famous symbol is wooden fishing vessel called falkusa. Option is to experience and see famous Blue Cave on the island of Bisevo. Military tour can be done as well, which would take you through military tunnels that were build in 20 century in the fear of a nuclear war. There is a nice 45 hike to the abandoned villages over Komiza and a stunning view of the hole bay. Dinner can be organized in unique restaurant famous for lobster dishes, with natural open air sea pool for breeding lobsters. Overnight. 6th day ISLAND BRAC In the morning, we sail to island of BRAC. We will stop at the town of Bol, because it has the most famous natural sandy beach (Golden horn beach), and it is a home to one of the best winery on the island. After swim and wine&snack tastings, we will take a nice trip to Blaca hermitage, a unique monastery that was build around the cave in 16.century., or we can hike to Vidova Gora, (778m) to the highest peak on the island of Brac, as well as the highest mountain peak on the Adriatic. From the top of Vidova Gora there is a divine view of Bol, the popular beach “Golden horn” („Zlatni rat“). Depending on your tastes, you can decide which traditional gastronomic dishes will you try traditional cake hrapocusa, named after a special type of rock that dominates the village of Dol, which is regarded as the home of the cake. Also, very known is vitalac, delicacy made out of lamb and it’s the top specialty. Special place in Brac gastronomy is reserved for rich selection of fish dishes, especially those produced in Sardina factory in Postira. Overnight. 7th day SPLIT After breakfast, we can have our stop for swimming, snorkeling, sunbathing before we head toward Split. We will arrive at early afternoon to our home marina in Split, so we can take a rest and then spend the last day exploring UNESCO protected town centers of Split, Salona and Trogir. Return on board and relax. After fine dinner in the city of Split, an evening walk will mark the end of this day. With numerous cafes and bars the entertainment can be as low or as lively as you like! Overnight. 8th day SPLIT The last day of our sailing trip: packing and disembarkation. Departure in late morning. Everybody takes home a stunning experience and memories from a unique CULTURAL heritage sailing tour on the Adriatic coast.

Natural wonders and UNESCO heritage Adriatic coast can proudly be presented as a perfect destination for those who like to hear Croatia is a country rich in culture, history and natural wonders. Croatia has many national parks, more than 1,000 islands and islets, 10 UNESCO World Heritage Sites, both cultural and natural, and 5 UNESCO’s potentially suitable World heritage to become in near future. Come and join us on the exploration tour of North Adriatic coast wonders while cruising on the boat! There are many ways to explore Croatia’s best cultural & natural wonders, and cruising is one of the ways. Our special experiences of our team will be glad to assist you. This sailing tour will include visit of North Adriatic islands and cities known by its cultural or natural wonders!