SHC Legal and Tax Bulletins

A landmark moment for IP protection in the Maldives: the new Trademark Act is now law.For the first time, foreign brands can secure formal trademark rights locally.Clearer procedures, stronger enforcement, and global alignment—businesses should start preparing now.Read our bulletin for key highlights: Intellectual Property Read More »

On May 3rd, 2025 — World Press Freedom Day — President Dr. Mohamed Muizzu made history with a landmark 15-hour press conference, sharing key presidential pledges, ongoing projects, and sectoral updates. Explore the highlights in the memorandum below. President’s Briefing Read More »

The Foreign Currency Regulation has been repealed and replaced with the Foreign Currency Act 2024 - which will be effective from 1st January 2025.

In our bulletin, we have a provided a summary overview of the Act.

If you have any queries, please reach out to us

Regulatory Update - Foreign Currency Regulation Read More »

Please see our memo prepared in respect of the amendments to the Goods and Services Tax Act (10/2011), Airport Taxes & Fees Act (29/2016) and the Tourism Act (2/99) Tax Update Read More »

Please note that the regulation referred to in this bulletin has been repealed.For the latest information, please refer to the updated bulletin here Regulatory Update - Foreign Currency Regulation Read More »

Fifth Amendment to the Income Tax Regulation (2024/R-84), which came into effect from 12th September 2024, introduced key changes to currency rules for income tax (including those collected via the withholding mechanism)

Tax Update Read More »

The Act mandates the safety standards, measures, non-compliance and compensation framework for employers to implement. Employment Read More »

The Act address the mechanisms on resolving disputes between the employees and employers and provides the framework for registration of unions. Employment Read More »

The Maldives existing Companies Act 10/96 was repealed and replaced with the Companies Act 2023 - new regime that was effective on 27 December 2023.In our bulletin we have provided a summary overview of the Act with a compliance checklist, easy for the readers to digest Regulatory Update - Companies Act regime Read More »

The Minister of Economic Development has via an order issued on 8th November 2021 introduced the rules on minimum wage implementation in the Maldives.This bulletin provides a snapshot overview of the minimum wage rules applicable pursuant to the Minimum Wage Order. Employment Read More »

The Maldives Government has ratified the Sixth Amendment to the Employment Act 2008 in September 2020, proposing sweeping changes to several key provisions of the Employment Act.This bulletin highlights and summarises the salient provisions of the Sixth Amendment. Employment Read More »

The Maldives Parliament proposed significant changes to the Tourism Act affecting lease rent, and introduced new concepts for ‘integrated tourist resort development’, ‘private island development’, etc.This bulletin provides a snapshot overview of the salient provisions of the amendments to the Tourism Act. Hospitality Read More »

The Government of the Republic of Maldives has ratified the ‘COVID-19 Special Measures Act’ (the “Act”) on 22nd September 2020, containing special measures to, inter alia, provide assistance and protections for individuals, families and businesses during this state of public health emergency due to COVID-19.This bulletin highlights and summarises the salient provisions of the Act related to employment matters. COVID-19 Read More »

The Government of the Republic of Maldives has ratified the Competition and Fair Business Practices Act on 31st August 2020, which is intended to promote positive competition and fair business practices, while prohibiting agreements and conduct that prevent, restrict and distort market competition, that would hinder economic growth.In this bulletin we have provided a high-level overview of the key provisions of the Act. Antitrust Read More »

This memorandum provides an insight for businesses on employment austerity measures and redundancies to develop an effective crisis management plan. COVID-19 Read More »