How can I change the ownership of a business?

· To change ownership of the business, submit the Change Business Permit application form.  

· You should submit a copy of the certificate given by Male’ Municipality to the building of operation of business.

· If a company submits the form, the position of the individual submitting the form should be specified and the form should have the company stamp. This individual should be a director of the company.

· The Identification Card copies of the previous owner and the new owner should be submitted with the form.

· The original ID cards are also required for reference.

· If a company is submitting the request, a board resolution should be attached.

Do I need to register a new name?

· If you wish to carry on with the name used by the previous ownership of the company, registration of a name is not required.

· If you wish to change the name, fill the business name section of the form with three names listed in order of preference.

Do I need to cancel the old license?

· Before issuing the new license, the old license under the previous ownership should be cancelled.

If the previous ownership has paid the monthly fee in advance for a long period, can I use that money to settle my advance payment?

· The new owners should pay the monthly fee in advance regardless of any advance payments made by the previous ownership.

· The advance payment made by the previous ownership cannot be refunded.

How much do I need to pay?

· If a new name is registered, you will be required to pay the monthly fee in advance for a minimum of one month.

· The monthly fee for a place on an island with a population higher than 10,000 is Mrf. 200.

· If the population is less than 10,000, the monthly fee is Mrf.50.

· The monthly fee for trading on uninhabited islands is Mrf.200.

· The permit will be granted once the receipt of the monthly fee is submitted.

· A revenue stamp worth Mrf.10 is required for the permit.

What should be considered if a company is submitting the request for a permit or license?

·       If the request is made on behalf of a company, partnership, corporative society, club or a party that requires government registration, the receipt of the annual fee should be submitted with the request.

·       If the entity is not required to pay an annual fee, documentation that proves that it is a legal entity registered by the government should be submitted.

·       The mandate of the entity should include trading of imported goods.