President Muizzu Ratifies Landmark Tourism Act Amendment to Accelerate Resort Growth

President Muizzu ratified the 16th Amendment to the Maldives Tourism Act, passed by Parliament on 3 December. The amendment establishes legal basis for leasing for resorts and training resorts, expands eligibility to SOEs with at least 45% government shareholding, allows up to six-month extensions for construction, requires Tour Operator Licenses with fines up to MVR 1M for unlicensed operators, and allows deferment of rent for closed properties.

President Muizzu ratified the 16th Amendment to the Maldives Tourism Act, passed by Parliament on 3 December. The amendment establishes legal basis for leasing for resorts and training resorts, expands eligibility to SOEs with at least 45% government shareholding, allows up to six-month extensions for construction, requires Tour Operator Licenses with fines up to MVR 1M for unlicensed operators, and allows deferment of rent for closed properties.

President Muizzu ratified the 16th Amendment to the Maldives Tourism Act, passed by Parliament on 3 December. The amendment establishes legal basis for leasing for resorts and training resorts, expands eligibility to SOEs with at least 45% government shareholding, allows up to six-month extensions for construction, requires Tour Operator Licenses with fines up to MVR 1M for unlicensed operators, and allows deferment of rent for closed properties.

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