Any foreigner who wishes to commence business in the Maldives, must apply for foreign investment approval from the Ministry of Economic Development, and thereafter register a company or re-register a branch of an overseas company in the Maldives.
Capital requirements are based on the nature of investment, and clearly specified in the FDI Policies.
All foreign investors are required to pay an administrative fee of USD5,000 to the Maldives Inland Revenue Authority.
The above approval processes can take a minimum of 5-14 working days and a maximum of 30 working days from the date of application.
For further details on foreign investment approval and company registration procedures in the Maldives, please visit : http://www.trade.gov.mv/ and http://www.business.egov.mv/
SPECIAL ECONOMIC ZONES
In order to foster major investments and increase economic growth through diversification, Special Economic Zones (SEZ) laws came into effect in 2014. The SEZ has less stringent regulations and provides tax concessions for foreign investors. The SEZ law gives special preference to major investments in the areas as health, education, information technology, manufacturing, ports, etc. Investors benefit from tax incentives and other exemption of import and export duties.
UNSOLICITED PROPOSALS POLICY
The USP frame offers the private sector the opportunity to submit proposals to the Government at their own initiations. It aims to harness private-sector innovation and capabilities in the delivery of strategic projects of the government, while protecting public-policy objectives and intellectual property rights, encouraging competition and ensuring transparency and accountability.
