This edition of the PC Law Bulletin highlights key legal and regulatory updates in the Maldives, including:
- Foreign Investments Bill – Proposing updated regulations to attract foreign direct investments with stricter compliance measures and investor protections.
- New Companies Act – Effective 1 January 2024, simplifying company formation, introducing single-shareholder companies, and removing the annual fee requirement.
- Amendment to Tourism Lease Regulations – Extending redevelopment closure periods for tourism properties from 18 months to 2 years, with provisions for additional extensions.
- Special Economic Zones Decree – Defining permissible economic activities and setting a minimum investment threshold of USD 100 million.
- Supreme Court Ruling on Director Removal – Setting a precedent for courts to remove directors who breach fiduciary duties if the company fails to act.
For full details, download the complete bulletin below:
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