Cash Declaration Limit Changed

The Maldives Monetary Authority, on 17 January 2019, published the first amendment to the Regulation on Cross Border Currency Declaration Amount. The changes introduced now require passengers travelling with USD 20,000 or more, and are travelling…

Public Health Emergency Act

The Public Health Emergency Act was published on 22 September 2020 and sets out provisions with regard to special procedures needed to implement temporary measures and to facilitate smooth functioning of the state authorities in order to provide safety and assistance to the individuals, families and businesses during the period of state of public health emergency declared as a result of the ongoing the coronavirus COVID-19 pandemic.

Competition Act

On 31 August 2020, the Competition Act was published in the gazette which sets out the provisions to develop and maintain a competitive commercial environment for enterprises, and sets out restrictions, and prohibits business practices and arrangements which may have a negative impact on competition.

Maldives Chartered Accountants Act

On 8 September 2020 the Maldives Chartered Accountants Act was published, introducing a new independent institution - The Institute of Chartered Accountants of the Maldives. The Act empowers the governing council of the institute to regulate, and develop the field of chartered accountancy in the Maldives.

Consumer Protection Act

On 31 August 2020, the Consumer Protection Act was published, which sets out the rights and protections granted to consumers, and prescribes duties and responsibilities of suppliers of goods and services in the Maldives.

Fourth Amendment to the Land Transport Act

On 31 August 2020, the Fourth Amendment to the Land Transport Act was published, introducing the formation of a road safety council and other key changes.