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Document
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Check for:
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1
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Foreign
investment registration or re-registration application form (as applicable)
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• All
required fields filled correctly
• All documents listed in the application form are
submitted
• Names, permanent address, passport/NIC numbers of each
individual shareholder and director
• Signature
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2
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Name search approval form
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• Original of the name
search approval signed by the Ministry
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3
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No objection letter from MoHI (if
applicable)
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• If applicant is
looking to re-register, a no objection letter from MoHI after completion of
their evaluation process.
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4
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Signed agreement of approval
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• Signed agreement of
approval of area and type of investment obtained from Ministry of Economic
Development.
• Agreement should specify the type of work and how they
will be carried out.
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5
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Capital value
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• Capital of an
acceptable value to the Maldivian Government – decision by Ministry staff
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6
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Passport/National Identification
Card copies
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• Clear and complete
passport or NIC copies of all relevant individuals are submitted (all
shareholders and directors of investing entity and legal representative)
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7
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Declarations from shareholders
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• Separate declarations
from all shareholders of the investing entity, stating no objection to
Ministry seeking a police clearance report for each shareholder.
• Declarations from individual shareholders of the company,
if one or more shareholders is a legal entity
• Signatures
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8
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Reference letter from bank
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• A reference letter
from a reputable bank on each shareholder (individuals and legal entities)
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9
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Board resolution for decision to
invest/re-register (as applicable)
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• If shareholders
include a legal entity, a board resolution from their board of directors
confirming their decision to invest in Maldives (for new registrations) or
re-register in Maldives (for re-registrations)
• Whether quorum was met
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10
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Board resolution for appointment
of legal representative (if applicable)
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• Contact person/legal
representative with power of attorney appointed by a Board resolution
• Whether quorum was met
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11
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Business plan and feasibility
study
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• Proposed business plan
and feasibility study of the foreign investment entity
• Details of proposed investment
• Main activities of foreign investment entity
• Five year projection of finances (balance sheet, profit
and loss, cash flows, including assumptions)
• Financing plan (including equity, debt)
• Phasing plan for investment detailing any proposed
phasing of capital/infrastructure developments
• Human resource plan (including wages, employee benefits,
foreign labour replacement plan)
• Feasibility indicators (NPV, IRR, payback period)
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12
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Letter from Power of Attorney
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• Signed letter of
authority or Power of Attorney for the contact person
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13
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Registration documents of
investment entity (if applicable)
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• Documents should be
verified with the Company unit of the Ministry, with the expectation that
the objectives and/or may require amendment – only for new registrations
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14
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Taxpayer registration form
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• Completed and signed
taxpayer registration form of MIRA
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