Resources

Sharing our knowledge and expertise, and keeping you up to date with the latest legal developments.

Antitrust

September 2020 – Regulatory Update on Competition and Fair Businesses Act

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.

October 2020 – COVID-19 Special Measures Act

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.

March 2020 – Guide on Employment Issues

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

Employment

January 2024 – SHC Regulatory Bulletin – Occupational Safety and Health Act

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

January 2024 – SHC Regulatory Bulletin – Industrial Relations Act

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

November 2021 – Minimum Wage

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.

October 2020 – Amendments to the Employment Act

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.

October 2020 – COVID-19 Special Measures Act

This bulletin highlights and summarises the salient provisions of the Act related to employment matters.

March 2020 – Guide on Employment Issues

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

Hospitality

November 2020 – Amendments to Tourism Act

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.

January 2024 – SHC Regulatory Bulletin – Companies Act 2023

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

October 2024 – Regulatory Update – MMA introduces new Foreign Currency (Monetary) Regulation (2024/R-91)

Please see our bulletin on the key changes introduced in the Foreign Currency (Monetary) Regulation issued by MMA.

The Regulation was issued on 1 October 2024 following speculation on proposed central bank measures to address depleting foreign reserves.

If you have any queries, please reach out to us.

November 2024 – Tax Update – Amendments to the Goods and Services Tax Act (10/2011), Airport Taxes & Fees Act (29/2016) and the Tourism Act (2/99)

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) Read More »

September 2024 – Tax Update – Fifth Amendment to the Income Tax Regulation (2024/R-84)

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)

Resources

Antitrust

September 2020 – Regulatory Update on Competition and Fair Businesses Act

COVID-19

October 2020 – COVID-19 Special Measures Act

March 2020 – Guide on Employment Issues

Employment

January 2024 – SHC Regulatory Bulletin – Occupational Safety and Health Act

January 2024 – SHC Regulatory Bulletin – Industrial Relations Act

November 2021 – Minimum Wage

October 2020 – Amendments to the Employment Act

October 2020 – COVID-19 Special Measures Act

March 2020 – Guide on Employment Issues

Hospitality

November 2020 – Amendments to Tourism Act

Regulatory Update - Companies Act regime

January 2024 – SHC Regulatory Bulletin – Companies Act 2023

Regulatory Update - Foreign Currency Regulation

October 2024 – Regulatory Update – MMA introduces new Foreign Currency (Monetary) Regulation (2024/R-91)

Tax Update

November 2024 – Tax Update – Amendments to the Goods and Services Tax Act (10/2011), Airport Taxes & Fees Act (29/2016) and the Tourism Act (2/99)

September 2024 – Tax Update – Fifth Amendment to the Income Tax Regulation (2024/R-84)