Work on the MAI208 began in 2006. It first appeared in public at HeliRussia 2009 and was also seen at MAKS-09 and HeliRussia in May 2010, though it was still unflown. It retains many of the features of the fixed wing MAI-223, having a three-blade tractor propeller driven by a Rotax 912 flat-four piston engine. The two aircraft share most of the fuselage, including its cabin, side by side seating and large, glazed side doors as well as the conventional undercarriage with its fuselage-mounted, rear leaning legs. The autogyro's two-blade rotor is mounted on a mast largely within a wide chord fairing, though with a significant part exposed below the rotor head. The other differences are in the empennage; the MAI-208 has a straight edged, slightly tapered tailplane and elevators with a cutout for rudder movement but the swept vertical surface of the MAI-223 was replaced by a small triangular fin carrying an almost semicircular rudder. By HeliRussia 2010 this had been reworked, with a wider chord, round topped rudder and a long fin/fillet with an almost horizontal upper edge.
The first flight was originally scheduled for 2009, then revised to 2010, though it remained unannounced at HeliRussia 2010.