Ministry of Economic Development

Trade Policy Formulation
Trade policy formulation is mandated to Ministry of Economic Development. The trade policy of the country is formulated, in coordination and consultation with the relevant Government Ministries and in compliance with international obligations, agreements, treaties and conventions that Maldives is signatory to.
Labour and employment policy
Transport policy
Investment Promotion
Invest Maldives is the government agency entrusted with promoting, regulating and licensing foreign investments in the country. It is the first port of call for all foreigners keen on investing in the Maldives.
SME Development
The potential of the SME sector in creating a more resilient and diversified economy as well as creating more employment opportunities, particularly in the outer atolls is ever increasing. The Ministry envisages establishing the requisite institutional and organizational mechanisms to restructure and consolidate all SME Development activities in order to achieve economies of scale and efficiency of operations.
IPR
Invest Maldives is the government agency entrusted with promoting, regulating and licensing foreign investments in the country. It is the first port of call for all foreigners keen on investing in the Maldives.
Consumer Protections
The Consumer Protection Act enables the consumers to protect their basic rights in buying goods and services. It includes the right for basic product information such as price, product labeling, and terms and conditions in the sale of goods and services.
Standards
Standards make products and services more reliable and it helps to improve the organizational performance and minimize the risks. As the National Standards Body we work towards formulating national standards and adopting international standards to facilitate industry needs.

Publications
Publications
Laws and Regulations
Laws and Regulations
Policy Documents
Policy Documents
Forms
Forms
Annual Reports
Annual Reports

Bilateral
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- Agreements
- Trading Partners
  - Statistics
Regional
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- SAFTA
- SATIS
  - Agreements
Multilateral
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- WTO
- OIC

Business Licenses

Issuing Import License after Import of Goods Issuing Export License Import License Issuing Business Licenses License to import Pork and Liquor Products Issuing Re-export License

Service:

Issuing import license after import of goods

Why do I need to do this?

Follow this user guide if you need an import license after you have imported 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?

§ Fine at the rate of MVR 1.50 per every 1 USD of CIF or CNF value

§ 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	Details of imported goods	§ Details of imported goods with a valid CIF or CNF value given by Maldives Customs Service
2	Fine	§ Fine for importing goods without a license, as defined
3	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)
4	Revenue stamp	§ Revenue stamp equivalent to 10 Laari per every MVR 100 worth of imports (with the exception of government offices)
5	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
6	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.
7	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.
8	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
9	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. Submit detailed of imported goods with a valid CIF or CNF value given by Maldives Customs Service.

*Ministry will issue an invoice slip for payment of fine, at the rate of MVR 1.50 per 1 USD of the CIF or CNF value of imports.

2. Make payment of fine and receive payment receipt.

3. Lodge application for import license at counter.

4. 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.

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

6. 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 of fine

§ Copy of payment receipt of license registration fees

Did you know:

§ You must have imported goods into the Maldives without an import license, for which Maldives Customs Service has issued a valid CIF or CNF.

§ You must pay the defined fine amount in order to be eligible for an import license. License will be processed only after the payment of fine.

§ 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.

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

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

§ 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

Ministry ofEconomic Development Republic of Maldives

Business Licenses

Ministry of Economic Development

Business Services

Labor and Employment Servicess