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…

Brief on Guideline for Restarting Tourism in the Maldives

This is a brief of the Guideline for Restarting Tourism in Maldives, published by the Ministry of Tourism, in consultation with health professionals and industry stakeholders. It outlines the measures that need to be followed to ensure the safety of tourists and residents.

Overview of Residential Tenancy Bill

This publication gives an overview of the Residential Tenancy Bill that the Maldivian Government has submitted to the People’s Majlis on 6 December 2019.

Overview of the Income Tax Act

  This publication gives an overview of the Income Tax Act (“ITA”) which has commenced on 1 January 2020.  If you have any questions or wish to discuss the implications of the Act on you, please contact one of our tax advisors or drop…

Year in Review 2019

  Our "Year in Review 2019" summarises the crucial regulatory developments in 2019. For ease of reference, these are categorised and labelled as "tax" and "legal" developments. Most of these developments are already explained in further detail…

Overview of Income Tax Bill

This publication gives an overview of the Income Tax Bill submitted to the Parliament by the Government of Maldives on 15 October 2019. The Parliament has commenced debate on the Bill, and is expected to bring changes to the Bill, before voting…

Year in Review 2018

Our "Year in Review 2018" summarises the crucial regulatory developments in 2018. For ease of reference, these are categorised and labelled as "tax" and "legal" developments. Most of these developments are already explained in further detail in…

Foreign Investment Procedure & Considerations

Foreign enterprises looking to invest in the Maldives are required to register their enterprise in the Maldives prior to commencing operations. Registering a foreign enterprise entails following a set of procedural rules, in the correct order, and complying…