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Doing Business in Maldives
 
 
 

Forms of Business Organisation

Private Company Limited by Shares

At least two and a maximum of 50 shareholders may establish this type of company which is not allowed to offer its shares to the general public. At least two directors must be assigned to handle a company’s management. At least one director should be resident in Maldives, and all directors must be at least 16 years old. A company must have a secretary. Annual accounts should be submitted.

Public Company Limited by Shares

At least 10 shareholders may incorporate a public company. This company may offer its shares to the general public. At least five directors must form a Board of Directors who directly participate in a company’s management. A secretary must be assigned.

Starting a Business

Private Company Limited by Shares

Procedure 1. Search for a unique company name and pick up standard application forms for incorporation

Time to complete:

1 day

Cost to complete:

no charge

Comment:

The Companies Act 1996 governs the rules on acceptable company names. To make the incorporation process easier, the Registrar of Companies provides standard memorandum and articles of association. No fees apply for the name confirmation.

Procedure 2. Pay registration fees

Time to complete:

1 day

Cost to complete:

no charge

Comment:

The Inland Revenue collects fees on behalf of the Registrar of Companies.


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