How Do I Apply?
Please submit all necessary documentation (listed below) to the Invest Maldives Office, located on the fourth floor of Velaanaage, in order to request approval for foreign investment.
For applications filed via the “Automatic” method, the application review procedure takes two working days; for those submitted via the “Government” route, it takes five to fourteen working days.
The applicant will get an acceptance letter from the Ministry following the approval of the foreign investment. The next thing you need to do is register your company using one of the three options below.
- Re-registering a business with the registrar of companies in a foreign jurisdiction
- Adding a New Company or Partnership
- Purchasing Stock from a locally incorporated business
In one business day, your company will be registered. You must sign a Foreign Investment Agreement (FIA) with the Ministry of Economic Development & Trade after the business entity has been registered.
What paperwork is needed to request clearance for a foreign investment?
- Application for Registration of Foreign Investment
- Clear, comprehensive, and current copies of the directors’, shareholders’, and secretary’s/legal representative’s passports or National Identity Cards
- Certificate of Company Registration and Constitutional Documents of the Entity, notarized as authentic copies by appropriate authorities in the nation of registration. All non-English documents must have notarized translations submitted by the investor.
- For every shareholder (person and legal entity), a financial institution licensed by the relevant jurisdiction’s central bank issues a letter of financial credibility.
- investor and shareholder profiles. For individual investors or stockholders, a resume will do.
- Contract Award Letter from Public or Private Entities (if relevant)
- An agreement or award letter from the relevant organization is required if the candidate wants to work in the construction industry.
- Feasibility study and projected business plan (upon request by MED)
What paperwork is needed to re-register a business?
- Application for Business Registration
- Certificate of Company Registration and Entity Constitutional Documents notarized as true copies (by the appropriate authorities of the registered nation). Note: All non-English documents must have notarized translations supplied.
- Board Decision of the Business
to reapply in the Maldives
To designate a Legal Representative to act on the company’s behalf in any legal actions taken against the company - Acceptance Letter and copy of the designated Representative’s NIC or passport Note: The representative should be a resident of the Maldives or a recognized organization; legal expertise is not required.
- Proper, comprehensive, and legitimate copies of PP and ID for individuals with tax obligations
Which paperwork is needed in order to incorporate a new business?
- Please refer to Company Registration for further information on how to register a company.
- The business registration certificate and the entity’s constitutional documents notarized as true copies (by the appropriate authorities of the registered nation) if the foreign shareholder is an entity. Note: All non-English documents must have notarized translations supplied.
Board Decision of the Business
Information on how many shares, and in what proportion, the company will own in the new venture
Information on the directors (if any) chosen to represent the entity in the new venture - Copy of the directors’ and company secretary’s valid, complete, and PP/ID; the tax-responsible person or people
Which paperwork is needed to register a partnership?
- Application for Business Registration Form.
- Partnership Contract (2 Originals)
- PP / ID copies that are clear, full, and valid for the Partners’ tax-responsible person or people
- Constitutional documents of the foreign partner, notarized as true copies by the appropriate authorities of the registered nation, if the foreign partner is an entity with a business registration certificate. Note: All non-English documents must have notarized translations supplied.
Board Decision of the Business
Information on how many shares, and in what proportion, the company will own in the new venture
Information on the directors (if any) chosen to represent the entity in the new venture
Which paperwork is needed in order to purchase stock in an established local business?
- Transfer Form for Sharing (2 originals)
- The entity planning to make the investment has revised its articles of association and memorandum of association (2 Originals).
- A board resolution authorizing the share transfer (as in step 1)
- The new directors and shareholders’ NIC/passport copies must be clear, comprehensive, and valid.
- The transferee’s board resolution (if an entity)
Information on the quantity and percentage of shares the business will purchase
Information on the directors (if any) chosen to represent the entity in the new venture
What is the price of this?
- Administration of Foreign Investments Amount equal to $5,000 USD. The Maldives Inland Revenue Authority (MIRA) must receive payment of this amount. You must provide the Ministry of Economic Development & Trade with a copy of the receipt.
Moreover, depending on the kind of business you register in the Maldives, you must pay an entity registration charge. Please go to the company registration process for information on fees.