Partnership Act

The Partnerships Act (13/2011), governs the formation, registration and operation of all partnerships in the Maldives.

The law allows the registration of General Partnerships and limited liability partnerships in the Maldives. A partnership is the business association with a minimum of at least two partners above the age of 18, and limited to twenty, in which each agrees to furnish a part of the capital and labor for a business enterprise, and bearing separate names.

Only individuals may become partners in a General Partnership. A minimum of one partner must be ordinarily resident in the Maldives.

Partnerships with any foreign Shareholdings are also governed by the Foreign Investment Act.
All partnerships are required to pay a onetime registration fee of MVR 2,000 to the Ministry of Economic Development.

More information on partnership act!

Ministry of Economic Development
Boduthakurufaanu Magu

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