Only 100 percent Maldivian companies can act as agents for foreign tourist vessels

Sep 26, 2024, 6:07 AM
A passenger cruise near Male'. -- Photo: Adhadhu

A passenger cruise near Male'. -- Photo: Adhadhu

The Tourism Ministry has amended rules to ensure that only 100-percent Maldivian companies can act as agents for foreign tourist vessels.

The amendment was gazetted yesterday with a new part added to Section 3 of the rules.

According to Section 3 (c), only companies with Maldivians as shareholders can act as agents of a tourist vessel coming to Maldives.

If such a company includes another partnership or sole proprietorship as a partner, the partnership or sole proprietorship must also be Maldivians.

A second amendment ensures that tourists arriving on a cruise ship or yacht will not be allowed to go on excursions with tourists staying in resorts or guesthouses.

According to Section 4 (d), only tour guides licensed under the rules can participate in the excursions of the crew and passengers of the foreign vessel.

The ministry also gazetted some amendments to the rules on taking feen when issuing passenger licenses to foreign tourist vessels.

The rule previously charged a passenger license fee of USD 700 per day for vessels between 75 meters and 100 meters in length.

With the change, USD 650 will be charged as license fees for vessels longer than 75 meters and shorter than 100 metres, while a separate category for vessels longer than 100 meters and non-cruise liners was introduced with a charge of USD 750.

Comments

Read More

Latest News

EyeCare offers 20 percent discount to mark World Sight Day

To celebrate World Sight Day, EyeCare is offering a 20 percent discount on selected frames with the purchase of prescription lenses through October. Available at all outlets, the promotion aligns with the "Love Your Eyes" theme to encourage eye health. Professionals are on hand to help customers choose the best options for their lifestyle.

Dhiraagu Maldives Junior Open to begin on December 13

Registration is open for the Dhiraagu Maldives Junior Open 2026, a badminton tournament running from December 13 to 19 in Malé. The event features various youth age groups and a Para category to foster local and international talent. Interested players must register by November 25 to compete in this endorsed sporting event.

MTCC has 6700 employees, most positions are contract-based

MTCC reports a workforce of 6,700 employees, with only 2,500 being permanent staff. Following a merger with the Road Development Corporation, the company’s headcount will grow by over 4,000, establishing a presence on every inhabited island. This expansion comes amid criticism over rapid hiring practices within state-owned enterprises.

Moody’s upgrades Maldives credit rating to Caa1

Moody’s has upgraded the Maldives' credit rating from Caa2 to Caa1 with a stable outlook, citing a reduced risk of default after successful debt payments. While the upgrade restores the rating to previous levels, the agency warns of a rising budget deficit and a high debt-to-GDP ratio that remains above 100 percent.

Board appointed for new Awqaf Investment company

The Maldives has formed the board for Maldives Awqaf Investment, a new state-owned enterprise led by Chairperson Izzuddin Adnan. The company will manage mosque construction, renovations, and waqf property development through Shari’ah-compliant activities. It holds an authorized capital of MVR 100 million to ensure project sustainability.

Government revenue exceeds MVR 30 billion

The Maldivian government’s revenue surpassed MVR 30 billion, marking a slight increase over last year despite a slowdown in tourism-related tax growth. While tax revenue rose to MVR 23.8 billion, non-tax revenue saw a decline. Economic experts link the stagnation to a cooling tourism sector, which may impact year-end budgetary targets.

TGST declines due to low tourist arrivals

Maldives' state revenue is declining as Tourism Goods and Services Tax collections fell by MVR 110.5 million due to a drop in visitor arrivals. Disruptions in Middle Eastern air travel have slowed tourism momentum since the second quarter. It is now unlikely the country will meet its annual target of 2.4 million tourists.

Newsletter

Get the latest news delivered straight to your inbox