Registration and operations services

 

Service:

Registration of sole proprietorships

Why do I need to do this?

Follow this user guide if you need to register to and do business in the Maldives as an individual.

Where can I apply for the service?

You can apply in person at MED

How long will the process take?

Next working day (Day 2) from date of application (Day 1)

 

What are the fees and charges involved?

§  Registration fee: MVR 500

 

Which documents do I need to submit?

 

Document

Check for:

1

Sole trader registration application form

§  All required fields filled correctly, in Dhivehi language

§  All documents listed in the application form are submitted

§  Signature

2

Name search approval form 

Name Search & Reservation Application - G001

Business Name Registration Form - G002

§  Original of the name search approval signed by the Ministry

3

National Identification Card copies

§  Clear and complete NIC copies of applicant and if applicable, the appointed responsible person for the business to be registered

4

Taxpayer registration form

§  Completed and signed taxpayer registration form of MIRA

5

Registration fee

§  Registration fee as per Sole Proprietorship Act (19/2014)

6

Responsible Person Details (if any)

Tax Payer Consent - G004

§  Attach NIC card copy or passport copy

 

 

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, receive invoice slip for payment.

 

* If there are any issues in approving the registration, the Ministry will notify via phone and request for any amendments if applicable.

 

Day 2:

3. Make payment.

4. Receive the original of certificate, registration letter and payment receipt.

What would I receive at the end of the process?

§  Certificate

§  Registration letter

§  Copy of payment receipt

 

 

Did you know:

§ You need to get the business name approved by the Registrar of Companies prior to registration.

§ You must not already have a Sole Proprietorship registered under your name.

§ You must be a Maldivian individual above 18 years of age.

§  Payment by cheque is acceptable only with bank guarantees.

§ The registration validity period is 5 years.

 

References:

§ Sole Proprietorship Act of the Maldives

§ User guide on business name approval