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President Muizzu Ratifies Landmark Tourism Act Amendment to Accelerate Resort Growth
President Dr Mohamed Muizzu ratified the 16th Amendment to the Maldives Tourism Act, passed by the 20th People's Majlis on 3 December, which establishes leasing rules for new resorts and Tourism Training Resorts, expands land-leasing eligibility to companies with at least 45 per cent government shareholding, allows up to six months of additional lease time for delayed developments, requires Tour Operator Licences with fines of up to MVR 1 million for unlicensed operators, and empowers the Ministry of Tourism and Environment to defer rent for properties closed for redevelopment.
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45 per centgovernment shareholding required for companies to acquire land for tourist resort or integrated resort developmentThe StandardAny company with at least 45 per cent government shareholding may now acquire land for tourist resort or integrated resort development, paving the way for broader public sector participation in strategic tourism projects.
Word for word from the report in The Standard. Open the report
up to MVR 1 millionmaximum fine for unlicensed service provisionThe StandardUnlicensed service provision may incur fines of up to MVR 1 million, depending on the type of violation and its duration.
Word for word from the report in The Standard. Open the report
Other events named
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President Dr Mohamed Muizzu ratified the 16th Amendment to the Maldives Tourism Act and, with publication in the Government Gazette, the amendment took effect.MaldivesThe StandardWith ratification complete and publication in the Government Gazette, the amendment is now in effect, marking a decisive step in the administration's agenda to streamline governance, attract investment, and enhance the Maldives' position as a leading global tourism destination.
Word for word from the report in The Standard. Open the report
