Registration Rules under the Foreign Exchange Act Tax Jan 10, 2025 Registration Rules under the Foreign Exchange Act On January 9, 2025, the Maldives Monetary Authority (“MMA”) has published, the Regulation on Registrations under the Foreign Currency Act (Regulation No. 2025/R-2) (”Regulation”). This regulation establishes the framework of principles and procedures governing registration requirements under the Foreign Currency Act (Law No. 32/2024) (“FCA”), setting the stage for greater clarity and compliance in foreign currency rules. Here’s a breakdown of what you need to know.
Premier Chambers Law Bulletin - October 2024 Legal Oct 31, 2024 Premier Chambers Law Bulletin - October 2024 The October 2024 PC Law Bulletin covers updates on the Foreign Investments Act, amendments to employment, company, and business registration laws, new income tax rules for USD filers, and a Supreme Court ruling on legal finality. Stay informed by downloading the full bulletin.
Premier Chambers Law Bulletin - August 2024 Legal Aug 31, 2024 Premier Chambers Law Bulletin - August 2024 The August 2024 PC Law Bulletin covers updates on tourism lease extensions, union regulations, stricter tourism leasing requirements, and health services amendments. Stay informed on key legal developments by downloading the full bulletin.
Premier Chambers Law Bulletin - March & April 2024 Legal Apr 30, 2024 Premier Chambers Law Bulletin - March & April 2024 The March-April 2024 PC Law Bulletin covers proposed amendments to the Copyright Act and Employment Act, reinstated Country-by-Country Reporting requirements, and an EPA suspension on coastal development projects. Stay informed by downloading the full bulletin.
Premier Chambers Law Bulletin - January & February 2024 Legal Feb 29, 2024 Premier Chambers Law Bulletin - January & February 2024 The January-February 2024 PC Law Bulletin covers updates on the Industrial Relations Act, Occupational Safety and Health Act, revised Foreign Tourist Vessel Regulation, and tax rulings on charitable donations and GST refunds. Stay informed by downloading the full bulletin.
Premier Chambers Law Bulletin - November & December 2023 Legal Dec 31, 2023 Premier Chambers Law Bulletin - November & December 2023 The November-December 2023 PC Law Bulletin covers updates on the Foreign Investments Bill, the new Companies Act, changes to tourism lease redevelopment rules, and a Supreme Court precedent on director removal. Stay informed by downloading the full bulletin.
Premier Chambers Law Bulletin - September & October 2023 Legal Oct 31, 2023 Premier Chambers Law Bulletin - September & October 2023 The September-October 2023 PC Law Bulletin covers updates on long-term leasing regulations in resorts, new foreign tourist vessel rules, and a Supreme Court decision on corporate liability for subsidiaries. Stay informed by downloading the full bulletin.
Premier Chambers Law Bulletin - August 2023 Legal Aug 31, 2023 Premier Chambers Law Bulletin - August 2023 The August 2023 PC Law Bulletin covers new tax recovery policies, amendments to tax installment agreements, Maldives’ ratification of an international human rights convention, and a Supreme Court ruling on mortgage enforcement. Stay informed by downloading the full bulletin.
Premier Chambers Law Bulletin - June & July 2023 Legal Jul 31, 2023 Premier Chambers Law Bulletin - June & July 2023 The June-July 2023 PC Law Bulletin covers updates on new foreign employment regulations, the launch of the oneGov online portal, and tourism boundary extension rules. Stay informed by downloading the full bulletin.
Premier Chambers Law Bulletin - May 2023 Legal May 31, 2023 Premier Chambers Law Bulletin - May 2023 The May 2023 PC Law Bulletin covers updates on the Water and Sewerage Act, new licensing rules for water and sewerage services, regulations on sole proprietorships, and revised spa business oversight. Stay informed by downloading the full bulletin.
Premier Chambers Law Bulletin - April 2023 Legal Apr 30, 2023 Premier Chambers Law Bulletin - April 2023 The April 2023 PC Law Bulletin covers the new Waste Management Act, government enforcement responsibilities, legal penalties for non-compliance, and a Supreme Court ruling on legitimate expectations in tax claims. Stay informed by downloading the full bulletin.
Premier Chambers Law Bulletin - March 2023 Legal Mar 31, 2023 Premier Chambers Law Bulletin - March 2023 The March 2023 PC Law Bulletin covers updates on the new Tourism Boundary Regulation, changes to the Spa Regulation, tax compliance updates, and revised resort development guidelines. Stay informed by downloading the full bulletin.
Premier Chambers Law Bulletin - February 2023 Legal Feb 28, 2023 Premier Chambers Law Bulletin - February 2023 The February 2023 PC Law Bulletin covers updates on Premier Chambers’ top law firm ranking, the new Associations Act, changes to tourism lease regulations, spa regulation compliance, and investment opportunities in tourism and infrastructure projects. Stay informed by downloading the full bulletin.
Premier Chambers Law Bulletin - January 2023 Legal Jan 31, 2023 Premier Chambers Law Bulletin - January 2023 The January 2023 PC Law Bulletin covers the new Evidence Act, tourism investment opportunities, a landmark Supreme Court decision on unjust enrichment, and key upcoming tax deadlines. Stay informed by downloading the full bulletin.
Premier Chambers Law Bulletin - December 2022 Legal Dec 31, 2022 Premier Chambers Law Bulletin - December 2022 The December 2022 PC Law Bulletin covers key updates on tourism construction period extensions, GST regulation amendments, new government dispute resolution guidelines, and investment opportunities in the tourism sector. Stay informed by downloading the full bulletin.
Premier Chambers Law Bulletin - November 2022 Legal Nov 30, 2022 Premier Chambers Law Bulletin - November 2022 The November 2022 PC Law Bulletin covers updates on the GST & TGST tax hike, new utility billing rules, tourism lease extension deadlines, marine activity regulations, and a proposed Occupational Safety and Health Bill. Stay informed by downloading the full bulletin.
Premier Chambers Law Bulletin - October 2022 Legal Oct 31, 2022 Premier Chambers Law Bulletin - October 2022 The October 2022 PC Law Bulletin covers updates on the Employment Act, a new Associations Act, the proposed GST & TGST hike, and the launch of the Consumer Ombudsman Office. Stay informed by downloading the full bulletin.
Premier Chambers Law Bulletin - August & September 2022 Legal Sep 30, 2022 Premier Chambers Law Bulletin - August & September 2022 The August-September 2022 PC Law Bulletin covers important updates, including the Green Tax correction, new cross subsidy rules, foreign investment reforms, and a plastic bag levy under the proposed Waste Management Bill. Stay informed by downloading the full bulletin.
Premier Chambers Law Bulletin - June & July 2022 Legal Jul 31, 2022 Premier Chambers Law Bulletin - June & July 2022 The June-July 2022 PC Law Bulletin highlights key updates, including tourism lease rent changes, tree protection regulations, new lease extension rules, court rulings on employee rights and shareholder protections, and proposed GST and TGST hikes. Stay informed by downloading the full bulletin.
Premier Chambers Law Bulletin - May 2022 Legal May 31, 2022 Premier Chambers Law Bulletin - May 2022 The May 2022 PC Law Bulletin covers significant regulatory updates, including new SME classifications, the Electronic Transactions Act, proposed lease rent reductions in tourism, and mandatory licensing for employment agencies. It also highlights key tax deadlines for businesses. Stay informed by downloading the full bulletin.
Premier Chambers Law Bulletin - April 2022 Legal Apr 30, 2022 Premier Chambers Law Bulletin - April 2022 The April 2022 PC Law Bulletin covers important regulatory updates, including new tourism lease transfer fees, restrictions on tax agents, and MIRA’s fine relief and tax instalment policies. It also highlights changes in tourism land rent regulations and key tax deadlines for businesses. Stay informed by downloading the full bulletin.
Premier Chambers Law Bulletin - March 2022 Legal Mar 31, 2022 Premier Chambers Law Bulletin - March 2022 The March 2022 PC Law Bulletin highlights key legal updates in the Maldives, including the abolishment of the public health emergency, new licensing requirements under the National Payment System Act, amendments to the Tourist Vessel Regulation, and mandatory registration of accountants. It also covers a Supreme Court ruling on tax audits, MIRA’s enforcement policy on tax compliance, and important tax deadlines for businesses. Stay informed on these regulatory changes by downloading the full bulletin.
Premier Chambers LLP ranked as a Band 1 Firm once again by Chambers and Partners News Mar 2, 2022 Premier Chambers LLP ranked as a Band 1 Firm once again by Chambers and Partners We are proud and delighted to announce that we have maintained our ranking in the respected international directory, Chambers & Partners, as a ‘Band 1’ Firm once again this year, in their Global Guide 2022.
Premier Chambers Law Bulletin - February 2022 Legal Feb 28, 2022 Premier Chambers Law Bulletin - February 2022 Stay up to date with key legal developments in the Maldives. This edition of the PC Law Bulletin covers the Tax Administration Act Amendment, New Energy Act, Eighth Amendment to the Land Act, Abolishment of the Transport Authority, Revised Employment Tribunal Regulation, Supreme Court ruling on penalty charges, Proposed Companies Bill and Upcoming Government Bills – Covering areas such as tourism, workplace safety, arbitration, and defamation.
Premier Chambers Law Bulletin - January 2022 Legal Jan 31, 2022 Premier Chambers Law Bulletin - January 2022 Stay informed with the latest legal updates in the Maldives. This edition of the PC Law Bulletin covers significant legislative changes, including, the Civil Procedure Code, limitation periods for civil claims, the ban on single-use plastics, the Residential Tenancy Act, the introduction of a minimum wage in the Maldives for private and public sectors and the extension of business visa periods.
Overview of the Regulation on Sale of Shares of the Government in Joint Venture Companies incorporated to Lease Lands, Islands and Lagoons for the Development of Tourist Resorts. Legal Apr 6, 2021 Overview of the Regulation on Sale of Shares of the Government in Joint Venture Companies incorporated to Lease Lands, Islands and Lagoons for the Development of Tourist Resorts. The Regulation highlights the process of the transaction of the sale of shares of the government in the joint venture companies, stipulating the requirements for the same including how the price of the shares are calculated.
Overview of Sixth Amendment to the Employment Act Legal Oct 12, 2020 Overview of Sixth Amendment to the Employment Act Significant changes have been brought to Law no. 2/2008 (Employment Act) (“EA”) by the recent sixth amendment to the EA (“Sixth Amendment”), which came into force on 22 September 2020.
Overview of Public Health Emergency Act Legal Oct 10, 2020 Overview of Public Health Emergency Act Law no. 20/2020 (Public Health Emergency Act) (the “Act”) came into force on 22 September 2020. The Act addresses various issues which have arisen due to the global Covid-19 pandemic and the state of public health emergency announced in the Maldives in relation to the same. The Act will remain in force for a period of 60 days, from the date on which a state of public health emergency announced relating to Covid-19 is lifted.
Ismail Masood v HDFC (2014/SC-A/27) & HDFC v Ismail Masood (2014/SC-A/30) Legal Sep 18, 2020 Ismail Masood v HDFC (2014/SC-A/27) & HDFC v Ismail Masood (2014/SC-A/30) The precedent set by the Supreme Court in the docket numbers 2014/SC-A/27 and 2014/SC-A/30 provides guidance on awarding compensation to employees where substantive fairness has been established at the time of dismissal, but procedural fairness has not been established.
The firm bids farewell to Dr. Mohamed Ibrahim News Sep 8, 2020 The firm bids farewell to Dr. Mohamed Ibrahim We extend our heartfelt congratulations to Dr. Mohamed Ibrahim on the parliament’s confirmation of his appointment to the post of a Supreme Court Justice!
Ibrahim Jihad v Housing Development Corporation Limited (2019/SC-L/91) Legal Sep 1, 2020 Ibrahim Jihad v Housing Development Corporation Limited (2019/SC-L/91) The Supreme Court's interpretation of s.43 of Law No. 22/2010, in the case is a significant step towards preventing abuse of the court process, which will hopefully aid aggrieved parties to get justice in a more expeditious manner, without having to go through appeal proceedings that are vexatious and frivolous.
MIRA announces new deadlines for tax submissions and payments Legal Jul 28, 2020 MIRA announces new deadlines for tax submissions and payments Following the relaxation of the lockdown measures in the Maldives, the Maldives Inland Revenue Authority (“MIRA”) has, pursuant to its announcement on 15 June 2020, resumed counter services from 5 July 2020 onwards. Below is a summary of the changes imposed via the announcement.
Overview of the Guideline for Restarting Tourism in Maldives Legal Jul 25, 2020 Overview of the Guideline for Restarting Tourism in Maldives The Ministry of Tourism (“MoT”) has published a guideline for restarting tourism in the Maldives, which outlines the essential standards which have to be met, by the stakeholders of the industry, in order to resume the operations of tourist facilities, as the borders of the country reopen. This overview provides a brief summary of the requirements laid down in the aforesaid guideline.
Overview of the Public Health Emergency Bill 2020 Legal Jun 22, 2020 Overview of the Public Health Emergency Bill 2020 The Government of Maldives has proposed a Public Health Emergency Bill to address various issues arising due to the global Covid-19 pandemic and the state of public health emergency announced in the Maldives in relation to the same. Once passed into law, it shall remain in force for a period of 60 days, from the date on which a state of public health emergency announced relating to Covid-19 is lifted. The Bill is currently at the parliamentary debate stage.