Business Licenses

 

Service:

Issuing import license

Why do I need to do this?

Follow this user guide if you need an import license for import of goods into the Maldives.

Where can I apply for the service?

You can apply in person at MED

How long will the process take?

Same day as date of application (Day 1)

 

What are the fees and charges involved?

§ Revenue stamp to be charged at the rate of 10 Laari per every MVR 100 worth of imports.

 

Which documents do I need to submit?

 

Document

Check for:

1

Import license Application form

§  All required fields filled correctly

§  All documents listed in the application form are submitted

§  Second page of form filled if applicant does not have a permit for trade of imported goods but wishes to import merchandise.

§  List of items attached – ensure that any items prohibited by the Maldivian law, or allowed only with special permit are not included in list

§  Total value of estimated imports in an year (CIF value) should be a minimum of MVR 100.

§  Signature (If applicant is an individual, his/her signature. If applicant is a business/government organisation, signature of an authorised person)

§  Seal (If applicant is a government entity or company registered for more than 15 days)

2

Revenue stamp

§  Revenue stamp equivalent to 10 Laari per every MVR 100 worth of imports (with the exception of government offices)

 

3

National Identification Card copy

§  Clear and complete NIC original and copy, if applicant is an individual

§  NIC original and copy of individual who receives the license (upon collection) – work visa original if foreigner

4

Copy of trade permit for import goods (if applicable)

§  Copy of valid permit for trade of imported goods, if applicant is a company, partnership, cooperative society, sole proprietor.

 

5

Copy of prior-attained permit from relevant government authority (if applicable)

§  Copy of permit for import of any products that require prior permit from the relevant government agency.

6

Letter of justification (if applicable)

§  Letter justifying purpose of attaining license, if requesting under the name of more than one individual and for use in vessels registered under the name of up to two individuals, or for use vehicle or household use

§  Signature of individual

7

Copy of registration and receipt of last payment (if applicable)

§  Copy of registration and receipt of last payment of monthly fee for trade permit, if the business permit was registered in an island other than Male’.

 

How do I apply for the service?

Day 1:

1. Lodge application at counter.

2. If any information is missing, provide the required information.

If application is in order, Ministry will calculate amount for payment and instruct to make payment.

 

* If license cannot be approved, Ministry will inform you of the issue and instruct for amendment as applicable.

 

3. If approved, receive invoice slip and make payment.

4. If approved, receive original of import license and sign form as proof of receipt.

 

What would I receive at the end of the process?

§  Original import license

§  Copy of payment receipt

 

 

Did you know:

§  For licenses requested for individual use, you must be an individual over 18 years of age. License must be for your individual use only, with the exception of your children under 18 years of age. For the use of your spouse or children over 18 years of age, a separate application must be submitted. The license cannot be used for business use.

§  For licenses requested for business use, ensure that you have a valid trade permit for imported goods, and you must be registered at MIRA for GST.

§  For licenses requested for household, production or business administration use, you will be required to sign a declaration from applicant that you will not use the imported items for business purposes.

§  For Licenses requested for use in trade fairs/exhibitions arranged by Maldivian and foreign party collaboration, you will need a prior obtained permit for holding such a fair/exhibition, and the license will be issued only under the name of the Maldivian party involved.

§  List of items to be imported must not include any items that are prohibited by the Maldivian law.

§  License will not be issued to an import value larger than the equivalent of the maximum number of revenue stamps that can be occupied in the space allocated in the application form.

§  A minimum of MVR 100 is required as total value of estimated imports in an year (CIF value).

§  The total value of estimated imports will be rounded off to the nearest 100.

§  Payment by cheque is acceptable only with bank guarantees.

 

References:

§  Export and Import Act of the Maldives

§  Export and Import Regulation

§  List of prohibited items for import

§  User guide on permit for sale of import goods