Cost of doing Business

Foreigners and foreign companies can register a company or partnership in the Maldives but these companies are referred to as Foreign Investments and are governed jointly under the Companies Act (Law No. 10/96) or the Partnerships Act (Law No. 13/2011) and the Law on Foreign Investments (Law No. 25/79).

All companies and partnerships, with one or more foreign shareholder or partner, are required to get a foreign investment approval and sign an agreement with the Ministry of Economic Development prior to incorporation or re-registration at the Ministry of Economic Development. For areas specified in the Tourism Act (Law No. 2/99 ), a prior approval letter will be required from the Ministry of Tourism.

APPLICABLE FEES

  1. Company registration fee; depends on the authorized registration fee capital of the Company (Minimum authorized capital of MVR 2000., USD 130 [approx.] is required by Law)
  2. Company Annual fee USD 130 approx. (MVR 2000)
  3. Stamp fee USD 32 approx. (MVR 500)
  4. All foreign investments incur an administrative fee of USD 2,000. This Administrative fee of shall be paid at the time of registration, and subsequently at the time of renewal of the foreign investment agreement or if any amendments to the Agreement are proposed by the Investors after the Agreement has been signed.
  5. All partnerships are required to pay a one-time registration fee of MVR 2,000 to the Ministry of Economic Development
  6. There is no fee for reregistration of non-resident companies in the Maldives
  7. All foreign investments shall comply with the Business Profit Tax Act (Law No. 5/2011)

Ministry of Economic Development
Boduthakurufaanu Magu

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