The government is inviting interested investors, local and foreign, for the lease, development, operation and management of tourist resorts in the northern region of Maldives. The Ministry of Tourism (MoT) will be leasing the below uninhabited islands and plot of land for these developments. Alidhuffarufinolhu in Haa Alifu Atoll Plot of Land from Vaikaramuraidhoo in Haa …
Maldives Monetary Authority (MMA) has published on the national gazette, the second amendment to the Regulation of Cross Border Cash Declaration Amount, which will be effective 17 January 2021 onward. With this new amendment, the minimum amount of cash to be declared to the Maldives Customs Service has been decreased to USD 10,000 or an …
The government has published the ‘Institute of Chartered Accountants of the Maldives Membership Regulation 2020′. The Regulation will come into force on 1 January 2021 and applies to all individuals who are admitted to the Institute. The Regulation divides the members of the institute into two classes, established as Associate Members and Fellow Members, and …
Membership Regulation for Institute of Chartered Accounts Read More »
On New Year’s day, the law will make service charge a mandatory levy in the Maldives tourism sector. As many resorts and other tourism establishments prepare to implement the legal imposition, challenges are emerging in understanding what the law essentially says or what it precisely means. The difficulty is multiplied by the absence of rules …
In Travel Weekly Asia Reader’s Choice Awards 2020, Maldives has been awarded with ‘Best Island Destination – Asia Pacific’. The awards programme is focused on the tourism industry in the Asia Pacific region and the ceremony for this year was held virtually. Furthermore, the Maldives national airline, ‘Maldivian Aero’ has also won ‘Leading Tourist Transport Provider’ …
The Ministry of Tourism (MoT) along with Maldives Marketing and Public Relations Corporation (MMPRC), Maldives Immigration and Maldives Airports Company Limited (MACL), has released a joint press statement marking the arrival of the 100,000th tourist into the Maldives since the reopening of the Maldives borders. The Minister of Tourism, Honorable Dr. Abdulla Mausoom highlighted the …
[the case touches on arbitration, overseas arbitration, interim relief, local court granting relief for overseas arbitration] the article contains updates It is established law that the Maldives courts will recognize and enforce overseas arbitral awards. In a recent development, the country has gone a step further by granting interim relief in an arbitration that had …
The trailblazer case of Jumeirah Vittaveli: A summary Read More »
In an enforcement action initiated by Habib Bank Limited, Male, the bank is proceeding to sell and transfer the leasehold rights (head leasehold rights) over the island of Maagaa, in North Ari Atoll. This island may not be confused with Maagau property in Dhaalu Atoll, which is currently operating as Baglioni Resort Maldives. The enforcement …
