To operate a business legally in the Maldives you must obtain specific business license depends on the type of business you want to operate. According to the law, both foreign and local investors must obtain a business license in Maldives. For example, if you're going to operate a trading business in the Maldives, you must obtain an import/export business license. However, this article is going to describe the procedure of obtaining necessary business licenses/permits in the Maldives.
What are you are required to pay?
To obtain the permit for selling imported goods online, you must submit a trade permit application to the Ministry of Economic and Development. The application must contain domain names that have been registered under your name. Moreover, the application must contain information about the individual who submits the forms (the individual must be a company director). The individual must attach his or her ID card with the application form.
Upon the verification of the documents, your local domain (exapmle.com.mv) will be registered.
The restaurant business in the Maldives is considered one of the most attractive business. Many foreign investors prefer to start a restaurant business rather than starting another business. The restaurant business is profitable in the Maldives because of most of the tourists. Most of the tourists prefer to eat in a restaurant rather than cooking. However, to operate a restaurant business in the Maldives, you need to obtain the necessary business license. The process of obtaining a restaurant permit are discussed below –
You do not need to obtain any special permission for operating a restaurant business. Once your restaurant is registered, you are good to go. However, once the restaurant name is registered, you will receive a slip from the Ministry that has all the information about your business. You must take this slip to the Maldives drug and food and authority for verification. The drug and food authority will verify the standard of restaurant/canteen/café before you receive the certification.
For obtaining the permit for the sale of imported goods for vehicles, you are required to submit a trade permit application form. This permit is given only to import goods such as petroleum, diesel, and kerosene. Like all other business mentioned above, the process of registering the name of the company is similar.
Once the name of your business is registered, the applicant needs to pay monthly fees of Mrf. 200. You will receive the permits once the receipt of the monthly fees is submitted. However, all the registered vehicles needed to be registered at the Ministry of Transport, Housing and Environment. The registered vehicles will have road permits/licenses for more than one month.
Export and Import business licenses in Maldives are essential for exporting and importing goods in Maldives and from Maldives to other parts of the world. To obtain export and import license in Maldives, the applicant is required to submit an application at the Ministry of Economic and Development. To obtain these licenses your business must make a revenue stamp and it will be charged at a rate of 10 laari per 100 MVR worth of import and export products. Remember: you must register your business first before you apply for an export and import license.
There are lots of other business sectors that need also needs permits/license. However, if you face any difficulties registering a business in Maldives, feel free to contact us. We provide all kinds of business-related services such as business advisory, auditing, accounting, bookkeeping, business registration, and many others.
Why choose us?
S&F Consulting firm has expert professionals who have several years of experience working in the Maldives. Our experienced professionals will assist you with any types of business problems regarding business registration, auditing, accounting, etc. Our fees are comparatively cheap than others. We highly maintain customer confidentiality and privacy. Now you can check small business ideas in Maldives.
Frequently Asked Question
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