In the evolving legal landscape of corporate regulation in the Maldives, a notable inconsistency has emerged: many government authorities, financial institutions, and private entities continue to request company seals on applications and official documents — despite the fact that the legal requirement to maintain and use a company seal was repealed under the new Companies […]
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Effective from 19 March 2025, the Fifteenth Amendment to the Tourism Act (Law No. 2/2025) brought significant reforms to the legal framework guiding tourism development in the Maldives. The amendment introduces key updates across several critical areas, including the allocation of land and lagoons, lease extension policies, redevelopment approvals, advertising regulations, and the establishment of […]
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Effective 3 December 2024, the Maldives commenced the implementation of the Foreign Investment Act (Law No: 11/2024), marking the repeal of the long-standing Foreign Investment Act of 1979. Ratified earlier on 3 September 2024, the new law establishes a modern and comprehensive framework designed to both attract and regulate foreign investment. With streamlined procedures and […]
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In a landmark development for the Maldives’ financial sector, President Dr Mohamed Muizzu has ratified the Foreign Currency Act, marking a significant step toward reinforcing the national currency and regulating foreign currency transactions. The bill, passed by Parliament on December 12, 2024, during its 60th sitting of the third session, was officially published in the […]
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On 27 December 2023, President Dr Mohamed Muizzu ratified the Companies Act 2023 (Law No: 07/2023), ushering in a new era of corporate regulation in the Maldives. The Act officially came into force on 1 January 2024, repealing the long-standing Companies Act of 1996, which had governed company operations in the country since its implementation […]
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The Maldives government has gazetted a new regulation that permit resort developers to extend the designated boundary of their resorts from 500 to 1000 meters. The boundary extension fee for an additional 500 meters is set at $100,000. On March 14, 2023, the Ministry of Tourism launched the new Resort Boundary Regulations, officially known as […]
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On 20th February 2023, the government published the Regulation Relating to the Loading and Carriage of Goods for Seagoing Vessels (Regulation No: 2023/R-71) in the Government Gazette. The regulation establishes minimum requirements for loading, unloading, storage, carriage and safety of cargo on ships. The regulation comes into force on 20th May 2023, and applies to […]
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The Importance of Corporate Governance: Ensuring Transparency, Accountability, and Ethical Behavior Corporate governance refers to the system of rules, practices, and processes by which a company is directed and controlled. It is concerned with how a company is managed and how the interests of stakeholders, including shareholders, employees, customers, suppliers, and the wider community, are […]
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As the Maldives continues to grow in popularity as a tourism destination, the Ministry of Tourism has announced new islands for tourism lease. This announcement provides investors with the opportunity to develop and operate resorts in these pristine locations, but it also comes with legal considerations that must be taken into account. At Apex Law […]
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Investing in the Maldives: Opportunities and Considerations The Maldives is a small island nation in the Indian Ocean, known for its stunning beaches, crystal-clear waters, and luxurious resorts. But beyond its reputation as a tourist destination, the Maldives offers many opportunities for investors looking to expand their portfolio and tap into the country’s growing economy. […]
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