· To obtain a permit for trade of imported goods from a bonded warehouse, submit a Trade Permit Application form.
· You should submit a copy of the certificate given by Male’ Municipality to the building of operation of business.
· A Trade Permit for bonded warehouses can only be given to the individual or individuals under whose name the bonded warehouse is registered at Maldives Customs Service. However, an exception can be made if the Maldives Customs Service submits a letter, stating that they have no objections regarding the issuance of the Trade Permit to a particular individual.
· 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.
· If an individual submits the form, a copy of the Identification Card should be attached.
· The original ID card is also required for reference.
· Fill the business name column in the application form with three names in order of preference.
· The signature of the owner of the building is not required for the Trade Permit of bonded warehouses as the license is only released to the individuals under whose name the warehouse is registered.
What do I need to pay?
· After the business is registered, you will be required to pay the monthly fee upfront for a minimum of one month.
· The monthly fee for a warehouse 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 are the standards the bonded warehouse should comply to?
· The Ministry of Economic Development does not have a standard for bonded warehouses. Business Permit is generally released to bonded warehouses registered at Maldives Customs Services.
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.