The Maldives Monetary Authority (MMA) announced a registration requirement for non-tourism establishments under the Foreign Currency Act (32/2024), which took effect on 1 January 2025, to support foreign currency reporting obligations. Under Section 18 of the Act, all non-tourism entities excluding financial institutions that earned at least USD 15 million (or equivalent) in the past calendar year must register with the MMA for reporting purposes via the “Maldives Monetary Authority FX Portal Registration Form” by 3 February 2025.
Maldives Monetary Authority 2025-01-09
Maldives Monetary Authority requires large non-tourism entities to register for FX reporting under the Foreign Currency Act
The Maldives Monetary Authority (MMA) requires non-tourism entities, excluding financial institutions, with earnings of at least USD 15 million in the past year to register under the Foreign Currency Act (32/2024) for foreign currency reporting. This registration, effective from 1 January 2025, is to be completed via the MMA FX Portal Registration Form.