There are two types of companies registered in the Maldives under The Companies Act 10/96. They are Private Limited Company (PVT LTD) and Public Limited Company (PLC).

Private Limited Company (PVT LTD)

Private limited company can be formed by both local and foreign  individuals or companies. The Company name will end with PVT LTD as a suffix.

Foreigners and foreign companies may register a private limited company in the Maldives but these companies are referred as FOREIGN INVESTMENTS and is governed jointly under the Companies Act 10/96 and the Law on Foreign Investments 25/79. The documents required to register foreign companies are slightly different and more information of Foregn Investment are available here

Procedure

All the companies in Maldives must be registered under 'The Companies Act of the Republic of Maldives Law no. 10/96’ from the Ministry of Economic Development. The following describes the procedure.

Location & Contact	Ministry of Economic Development Ghaazee Building (First Floor) Ameer Ahmed Magu, Male’, Maldives Tel: (960) 3323668, (960) 3333129, (960) 3333126, (960) 3333127 Fax: (960) 3323840 e-mail: company@trade.gov.mv
Service Available	0800 Hrs to 1500 Hrs, Sunday – Thursday 0900 Hrs to 1330 Hrs, Sunday – Thursday (Ramazan)
Average Time for service	1 (one) day if submitted in the morning Next day if submitted after 01:00 pm
Number of visits required	2 (two)

 

CRITERIA/PRE-REQUISITES

The company to be registered must have at least 2 share holders above the age of 18.

Minimum capital for a Private limited company is 2000/- (Two thousand) Maldivian rufiyaa.

Minimum capital for a Public limited company is 1000000/- (One million)Maldivian rufiyaa.

PROCEDURE STEPS

1. Take a queue number and when your number is displayed submit the filled application form along with the necessary documents (listed in “Documents and Forms required”) to the counter 2 (Company Counter).

2. Provide your contact details to the staff at the counter.

3. Once the documents are approved you will be informed (via phone) to attend to the Ministry.

4. Go to the Ministry on the date and time informed.

5. Take a queue number for Counter 2 (Company  Counter), and when your number is displayed obtain the payment slip issued. The payment slip will expire in 3 days.

6. Make payment for the Company registration fee and Annual fee at counter number 5 (Cashier Counter) and obtain the payment reciept. No queue number is required. 

7. After payment is made, show the payment reciept to Counter 2 (no queue number is required)

8. You will recieve the Registration Certificate, the Instruction Letter, and an endorsed copy of articles and memorandum of association within 10 minutes

9. Check the certificate for final verification. If any problem is noticed, directly consult the counter staff.

DOCUMENTS AN FORMS REQUIRED

1. Company Name Search and Reservation Form

2. Memorandum of Association (Dhivehi mandatory).

3. Articles of association (Dhivehi mandatory).

4. Company registration application  form.

5. Document signed by the proposed shareholders appointing MD and Secretary.

6. Acceptance letter of Managing director.

7. Acceptance letter of Company Secretary.

8. Original and Copy of the ID cards of the Share holders, Board of Directors (if different) and Secretary.

9. Revenue stamp (Rf 500/- when collecting the Registration Certificate).

FEE

Form set:   Download from www.trade.gov.mv for free or purchase from the post office counter.

Registration fee: Depends on the capital of the company (Please refer to company act).

Annual fee:

Rf  2000/- for private companies.

Rf  10000/- for public companies.

ADDITIONAL INFORMATION

The timings may differ depending on the completeness of the documents by customers and unforeseen operational issues on the Ministry side.