Two Years in Business: A Message of Thanks
The Foreign Investment Act 2024 (Act No. 11/2024), in force since 3 December 2024, sets out a structured route for foreign parties to establish and operate businesses in the Maldives. This article sets out the process in six practical steps.
The Foreign Investment Act 2024 (Act No. 11/2024) came into force on 3 December 2024. This comprehensive legislation affects foreign investors operating or seeking to establish operations in the Maldives, particularly regarding foreign investment eligibility, investment approval processes, sectoral classifications, and investor protections. This article highlights five key aspects that investors should be aware of.
The Ministry of Homeland Security and Technology introduced the Regulation on Employment of Expatriates in the Maldives (Regulation No. 2025/R-120) on 14 December 2025, replacing the 2023 regulation (Regulation No. 2023/R-111). The new framework brings significant changes affecting businesses that employ expatriate workers, particularly in areas of job localisation and the scope of enforcement powers. This article highlights five key changes that businesses should be aware of.
On 04th Aug 2025, Ministry of Tourism and Environment published the Tourist Establishment Advertising Regulation which introduced new advertising standards for tourist establishments operating in the Maldives. This article identifies the tourism businesses affected by the regulation, and discusses its implications for digital advertising practices within the industry.
On 20th October 2024, Maldives Inland Revenue Authority (MIRA) published a series of amendments to its enforcement policies; First Amendment to General Enforcement Policy (Policy No. 2024/G-34), Third Amendment to Name and Shame Policy (Policy No. 2024/G-33), and First Amendment to the Policy on Accessing Bank Account Information and Freezing Bank Account (Policy No. 2024/G-32).
On 1st October 2024, Maldives Monetary Authority (MMA) published the Foreign Currency Regulation (Regulation No. 2024/R-91) which imposes various obligations on tourism sector taxpayers and banks.
The Maldives has introduced international bunkering services in Ihavandhippolhu Atoll in North Maldives on 19 September 2024.
On the eve of the inauguration, Maldives Customs Service published their 14th Amendment to Customs General Regulation (Regulation No. 2024/R-87) which seeks to regulate the newly established sector.
Welcome to the Maldives Tax Newsletter where you will find highlights from national developments in tax law and policy. This month marks the first anniversary of our newsletter and we thank you for your continued support and readership.