Following the Procedures of Maldives Company Registration
If you’re planning to invest in the Maldives you need to incorporate a company. Maldives company registration is now blending in and can be undertaken by any investor whether local or foreigner to invest in the available business opportunities. 3E Accounting, a renowned service provider, will assist you in incorporating your company. You only need to get in touch with their highly professional staff and appreciate their service ranging from:
- Enterprise setup
- Human resource services
- Incorporating services
- Taxation and auditing services
- Legal and accounting services
Steps on Legitimizing Your Business
Now, if you decide to legitimize a company you might as well formulate several company name proposals. Maldives company registration starts with the name searching with the Registrar of Companies. Afterwards, you‘ll be issued with the standard application form once the name is approved. A registration fee is then payable at the Ministry of Economic Development.
If you’re planning to register for a Private Limited liability company you’ll be required to have the following documents at hand:
- A company name search and Reservation Form
- Memorandum of Association
- Articles of Association
- The company registration application Form
- The acknowledgement letter of the Chief Executive and company secretary.
- The original identification documents of Directors and shareholders.
Remember you must present two sets of copies of the forms mentioned above. For a Private Limited company, you’ll have to have a minimum of two shareholders. In case you‘re a foreigner and choose to go the Joint venture way, you’re only eligible to 51 percent shares ownership with the remaining 49 percent resting on the non-Maldivian. The minimum paid-up capital for Private Limited Company is MVR2, 000 payable at the bank account.
Requirements and Other Essentials You Must Know
The company registration fee depends on your company’s approved registration fee capital. The nominal administration fee for foreign investments is approximately USD 2,000.
Besides the share capital, you must have a registered office/address where the authority can reach you or send any correspondences and notices.
When it comes to Maldives company registration for a foreign company, the rules are under the Foreign Investment Laws as the documents are slightly different.
If you decide to establish your business, you should apply for a company seal with the Registrar of Companies. Further, the company seal among other legal documents including your Certificate of Incorporation will assist you in opening a corporate bank account. In the event you feel that the process is time-consuming, then you can contact 3E Accounting for assistance.
Your eligibility to file your annual returns will depend on whether you’re a registered taxpayer. And, therefore, it is mandatory to register your company with the Registrar of Companies for the Tax Identification Number (TIN). According to the Employment Act, you must also register your employees with the Pension Administration Office as a prerequisite for Maldives company registration. Get acquitted with 3E Accounting and relish their knowledge in tax laws as you begin your entrepreneurial journey. Sometimes matters related to taxation may be complex or challenging. Thus, you need the services of the best service provider.
Contact us today, and the representative will answer all your questions regarding Maldives company registration.