SHC Legal and Tax Bulletins

The GST Act amendment begins the shift toward a destination-based model, bringing onshore suppliers of Maldives tourism products within the tourism sector GST net for the first time. The Income Tax Act amendment substantially widens the withholding tax net for payments made to non-resident contractors, catching goods as well as services, and raising the applicable rate.This guide aims to help businesses work out quickly whether either change affects their business, and the steps worth taking now that the amendments are in effect. Tax Update Read More »

The First Amendment to the Foreign Currency Act, ratified on 31 August 2026, introduces significant changes to the Maldives' foreign currency regulatory framework, including increase in conversion rates for tourist resorts and other businesses. Our latest Foreign Currency Update highlights the key amendments and practical consideration for the businesses operating in the Maldives. Regulatory Update - Foreign Currency Regulation Read More »

The 8th Amendment to the Goods and Services Tax Act (10/2011), ratified on 31 August 2026, introduces significant changes to the Maldives GST framework, including the implementation of the destination principle. The amendment notably brings inbound tourism products and related agency and booking services supplied by offshore operators within the Maldives tax net. Tax Update Read More »

The 2nd Amendment to the Income Tax Act (25/2019), ratified on 31 August 2026, introduces significant changes to the withholding tax framework for non-resident contractors, including an increased withholding tax rate and an expanded scope covering payments for the supply of goods and composite contracts. Tax Update Read More »

The Sixth Amendment to the Income Tax Regulation (2026/R-67), effective from 20 August 2026, introduces important changes to several areas of income tax, including capital allowances, lease treatment, employer-provided accommodation, accounting methods and filing requirements Tax Update Read More »

Beyond the brand, the location and the lifestyle, there is an important legal framework that every prospective buyer should understand. What are you actually acquiring? What rights do you have? Which agreements determine your ownership and use of the residence? What happens if the development is delayed, the brand changes, or the residence is included in a rental programme? Our latest guide, Maldives Branded Residences: A Buyer’s Guide, takes a closer look at these questions and the key legal considerations buyers should be aware of before committing to a purchase. Because when it comes to a significant investment, understanding what is behind the brochure matters. Explore the full guide for a practical overview of the legal considerations surrounding branded residences in the Maldives. Hospitality Read More »

This guide covers key matters on protecting your IP, structuring your licensing agreements, and preparing your filing strategy ahead of the registry launch.  Intellectual Property Read More »

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 »