Company Name

This guide explains how to choose a company name under the new Companies Act (7/2023). Clause 66 – 76 of the Companies Act 7/2023 defines the regulations for company names.

1. Choosing a Company Name

The name you choose should:

• Reflect your business: The name should clearly communicate what your company does.
• Legally available: It can’t be prohibited by other laws.
• Comply with regulations: It must follow the rules outlined in the Companies Act and Regulation

2. Identifying the Company Type

It is mandatory to identify the type of the company while requesting for company name reservation. You can either choose:

• PVT LTD for Private Companies
• PLC for Public Limited Companies
• LTD for Government Companies
• LAC LTD for Local Authority Companies

When reserving your company name, choose the company type from the drop-down menu instead of typing the abbreviation directly in the name field.

3. Acceptable Characters

Certain characters are not accepted in a Company Name. Refer to Companies Regulation to understand the acceptable characters.

4. Prohibited Names

Similarity to Existing Entities:

• Registered Businesses: Your name cannot be identical or confusingly similar to the name of any existing company, sole proprietorship, partnership or a cooperative society
• Foreign Institutions/Businesses:
  • International Organizations: Names suggesting affiliation with established regional or international associations are prohibited.
  • Globally Recognized Brands: Using a globally recognized brand name or a company name without their consent is not allowed.

Reserved Names:

• You cannot use a name currently reserved for another business entity.

Government Associations:

• Names implying a connection with a government or state institution are not permitted.
• Names used by government agencies for their projects are also prohibited.

Legal Restrictions:

• Names violating Section 14 of the Business Registration Act (or relevant equivalent law) are not allowed.
• Names of companies dissolved within the past 12 months cannot be used.
• Names prohibited by other applicable laws are also restricted.

Additional Prohibitions:

• Political party names or names associated with political parties are not permitted.
• Names using an individual’s name who isn’t associated with the company are prohibited unless the relationship is clearly established.
• Names deemed socially unacceptable or offensive are not allowed.
• Names that don’t accurately reflect the nature of your business type are discouraged.

5. The Reservation Process

• Submit an application: Use the online service on one.gov.mv.
• Processing: Your chosen name will be approved after an operator check for compliance with naming regulations. A name that is available to request for reservation does not mean that the name is available to reserve.
• Approval and Reservation: If approved, your name will be reserved for 7 days upon payment of the fee of MVR 100.
• A reserved name is valid for 7 days, with the possibility of extension for an additional 7 days (fee applies).

6. Displaying Company Name

You must display your company name in:

• Official documents: This includes letters, notices, and publications.
• Financial instruments: This includes bills of exchange, promissory notes, endorsements, checks, and payment orders.
• Physical locations: All registered company locations must prominently display the company name.

Important Notes:

• A reserved name does not grant automatic business registration.
• You should not use a reserved name to register a domain name unless the Company Registration process is completed
• To operate under the chosen name, you must complete the full company registration process.

About this guide: This guide offers a general overview of company name regulations. It’s for informational purposes only and shouldn’t replace legal advice. For the most accurate and current requirements specific to your business type, refer to official regulations. We may update this guide periodically to reflect changes in the regulation.