14th Amendment to the Tourism Act: Streamlining Lease Process, Increasing Green Tax
Maldives Parliament is currently considering the Bill on the 14th Amendment to the Tourism Act (Law No. 2/99), which proposes streamlining the process of leasing islands, land, and lagoons for tourism development. This amendment also proposes increasing the Green Tax rates.
Maldives' New Association Regulation In Brief
On August 27, 2024, the Maldives introduced a new Association Regulation. This regulation outline the procedures for forming, operating, and dissolving civil society organizations in the Maldives, as governed by the Association Act (3/2022). Here are the key highlights of the new regulation.
Changes to the Companies Act: Reduced EGM Notice Period & New Appointment Deadlines
The first amendment to the Companies Act (No. 07/2023) was ratified and came into effect on Wednesday, September 18th, 2024. Here are the key changes brought to the act.
13th Amendment to the Tourism Act: What You Need to Know
The 13th amendment to the Tourism Act. recently passed by Parliament, focuses on extending the lease period of resorts and introduces changes to the associated fees. Here are the key highlights of the 13th Amendment to the Tourism Act.
Maldives' New Foreign Investment Law in Brief
President Dr. Mohamed Muizzu has ratified the new Foreign Investment Bill, replacing the 45-year-old Foreign Investment Act. This modernized law comprising 39 pages and 45 provisions.
Tourism Law may change again: Thirteenth Amendment
The Government has proposed an amendment to the Tourism Act that focuses on lease extensions for islands leased for tourist resorts, potentially allowing lessees to extend their leases at a minimal fee.
MOT Revises CP Extension Fee Rules
Ministry of Tourism has announced a significant change to the rules regarding Construction Period extension fees for resort development projects in the Maldives.