Maldives, Republic of

Exchange controls

At present, there are no exchange controls in Maldives.

Registration of business in Maldives

In accordance with the Business Registration Act, a foreign entity/person can carry on any business activity in Maldives only after registration as a company under the Maldives Companies Act (Act Number: 10/96) or as a partnership under the Partnership Act (Act Number: 13/2011).

Business activities that require registration in Maldives, as defined in the Business Registration Act of the Maldives, are as follows:

• Buying and selling of goods for purposes of receiving an income therefrom.
• Craftsmanship commercially carried on with a view to earning income therefrom.
• Provision of professional and/or technical services for earning a profit therefrom.
• Provision of any other services for earning a profit therefrom.
• Granting of rights in respect of immovable property for the purposes of earning a profit therefrom.
• Every other activity conducted with a view to earning a profit therefrom.