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

Registration and operations services

Sole Proprietorships Registration Logo Registration Partnerships Registration Seal Registration Shipping Mark Registration Small and Medium Enterprises (SMEs) Registration Trade Marks Registration Copyrights Registration Re-Export Registration Registration of Companies

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:

Ministry ofEconomic Development Republic of Maldives

Registration and operations services

Ministry of Economic Development

Business Services

Labor and Employment Servicess