Summary Translation: Maldives Foreign Currency Act
Here is a summary translation of the essential provisions of the Foreign Currency Act in a simple and concise form to help the affected persons and entities understand the core elements of the law.
New Forex Bill in the Maldives: What Businesses Need to Know
The MMA announced a new Foreign Exchange Bill on November 26th, 2024, which aims to replace the existing Foreign Exchange Regulation that came into effect just last month, on October 1st, 2024. Here is a summary of this bill.
Step-by-Step Guide to Registering a Foreign Company in the Maldives
The Ministry of Economic Development and Trade, in accordance with the Maldives Companies Act (No. 07/2023), has formulated and gazetted the Regulations on Foreign Company Registration in the Maldives. Here's a breakdown of this regulation.
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.