This edition of the PC Law Bulletin highlights key legal and regulatory updates in the Maldives, including:
- Foreign Investments Act (Law No. 11/2024) – Establishing a comprehensive framework for foreign investment approvals, protections, and compliance, repealing the 1979 law.
- First Amendment to the Companies Act (Law No. 18/2024) – Revising notice periods and deadlines for extraordinary general meetings and director appointments.
- Eighth Amendment to the Employment Act (Law No. 10/2024) – Introducing new foreign employment quotas, employer obligations, and worksite registration requirements.
- Second Amendment to the Business Registration Act (Law No. 12/2024) – Clarifying foreign entity registration and investment requirements.
- Fifth Amendment to the Income Tax Regulation (2024/R-84) – Requiring taxpayers with non-MVR functional currencies to file returns and remit taxes in USD.
- Supreme Court Ruling on Issue Estoppel – Reinforcing finality in legal decisions to prevent repeated litigation on resolved matters.
For full details, download the complete bulletin below:
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