List of investments approved by the Government.

1. Financial consultancy
2. Auditing services
3. Insurance services
4. Water sports activities
5. Commercial diving (salvage)
6. Domestic air transport services
7. Catering services for airlines
8. Big Game fishing
9. Technical support services i.e. photocopies, elevators, ATM machines etc
10. Manufacturing of garments
11. Water production, bottling and distribution
12. Consultancy inpublic relation, editorial, advertising and translation services
13. Packing and distribution of cement
14. General Sales Agency , Passenger Sales Agency and Cargo Sales Agency for airlines and shipping lines
15. Spa operations and management
16. Water treatment plant
17. Boat building
18. Software development and relatedsupport services
19. Financial leasing services
20. Fish processing activities
21. Traditional medical services
22. Production of underwater photography, videography and post cards
23. Block ice making
24. Speciality Restaurants
25. Professional business valuation services
26. Flying School
27. IT System integration and implementation services

Note : Approvals for investments on the “positive list” are subject to relevant regulatory approvals, where applicable.

Annex

1. If any of the shareholders of the investing company is an individual, please submit a photocopy of the passport data page, and the permanent address.
2. If any of the shareholding of the investing company is a legal entity, other than a public company, please submit the photocopy of the passport data page and the permanent address of each of the share holders of the legal entity.
3. Photocopy of passport of each of the shareholders of the proposed investing company.
4. Bank Reference or a Reference letter from a reputable bank for each of the shareholders of the proposed investing company.
5. If the investing entity is a company, a Resolution of the Board of Directors of the Company, confirming their decision to invest in the proposed project.
6. Project feasibility report including:
   • Details of the main components/ activities of the proposed project.
   • Projected financial statements including the Balance Sheet, Profit and Loss Account and the Cash Flow Statements for the first 5 years of operations.
   • Feasibility indicators, including NPV, IRR, Payback period.
   • The main assumptions underlying the financial projections, including cost, revenue, market and other non- financial assumptions, if any.
   • Phasing plan for the investment detailing the phasing of the main capital/ infrastructure investments.
   • Financing plan for the investment including details of debt & equity financing
   • HR Plan including:
     • Labour requirement for commencing operations under the investment with the breakdown of local and foreign labour classified by occupation and the details of wages and benefits accruing to labour;
     • Localization plan detailing proposed training for local labour and a replacement schedule for foreign labour.
7. Draft of the Articles of Association and the Memorandum of Association of the entity proposing to undertake the investment.
8. Letter of Authority or Power of Attorney for Contact Person (if applicable).
9. A copy of the signed Joint Venture agreement between the JV partners proposing investing in the Maldives.