President creates Dhivehin Resort Hissa Corporation Limited to hold state resort shares

The President’s Office has issued Decision No. 2026/19 establishing Dhivehin Resort Hissa Corporation Limited, a state-owned company created to hold shares in resorts. The decision is carried in the Government Gazette of the Maldives, No. 165, Volume 55, dated 9 November 2026 (29 Jumada al-Ula 1448), under Section I. It takes effect as a published presidential decision of the current administration, not as a bill passed by the People’s Majlis.

The instrument follows the pattern of company-creation decisions already used this year: each is signed off through the President’s Office and then gazetted as a standalone notice with its own number, so that the corporate act enters the public record independently of any statute. The gazette itself lists the President’s Office at Bodu Thakurufaanu Magu, Malé, as the issuing authority for rules and regulations published in the paper, with legal affairs correspondence directed to legalaffairs@po.gov.mv.

What the decision records

The notice is short and formal. Its operative content, as gazetted, is:

• Instrument: Decision No. 2026/19, headed with the creation of Dhivehin Resort Hissa Corporation Limited.
• Issuing body: the President’s Office of the Republic of Maldives.
• Publication: Government Gazette No. 165, Volume 55, Section I, dated 9 November 2026.
• Company type: a limited liability corporation in which the state holds the shares, set up as a vehicle for resort shareholdings.
• Figures printed in the text: amounts of 100, 100,000,000 and 1,000,000 appear in the decision’s share-related provisions.

A recurring instrument for state holdings

The resort corporation is the second company-creation decision gazetted in recent weeks. On 1 October 2026 the same channel produced Decision No. 2026/16, establishing National Exchange Limited, published in Gazette No. 158 of Volume 55. Both follow the identical layout: a numbered presidential decision, a one-line statement of the corporate act, and the President’s Office imprint with its Malé address, telephone and gazette website.

That consistency matters for anyone tracking state assets. Company formation by decision rather than by statute means the gazette notice — not a parliamentary record — is the primary public document evidencing the existence, name and purpose of the entity. For Dhivehin Resort Hissa Corporation Limited, the 9 November notice is therefore the reference point against which later filings, board appointments and share transfers will be read.

What it means for operators and investors

Holding resort shares through a single state corporation changes who sits across the table in transactions involving government-held resort equity. A resort operator negotiating a lease extension, a share transfer or a joint-venture entry may now face a dedicated corporate counterparty rather than a ministry or a scattered set of state holdings.

The structure also centralises reporting. Instead of state shareholdings being dispersed across agencies, the corporation becomes the book-keeping entity for those stakes, with its own governance obligations under company law and its own disclosure practice. Investors weighing exposure to Maldivian resort assets will look to that entity’s published accounts and to the gazette for any change in its mandate.

The decision as gazetted sets out the creation and the corporate parameters; it does not, in the text published on 9 November, name directors, a chair or a management team. Those appointments, if made, would normally appear as separate gazette notices.

Close

For resort operators, minority shareholders and lenders, the practical consequence is a new state counterparty with a defined legal personality and a gazetted mandate over resort shares. The notice is short, but it is the founding document of a company that will sit on the shareholder register of Maldivian resorts, and it should be read as the baseline against which every subsequent appointment, capital change and transfer is checked.

Source: Government Gazette of the Maldives, No. 165, 9 November 2026, Section I (official reference: Decision No. 2026/19).