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Guide

How to register a business in the Maldives.

Everything you need to register a private limited company (Pvt Ltd) or a sole proprietorship through oneGov and the Business Portal — the steps, the documents, the fees, how long it takes — and opening your business bank account.

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Based on the official service guidelines published on oneGov (one.gov.mv) by the Ministry of Economic Development, Transport and Trade. Checked 22 October 2026. Fees and requirements can change — always confirm on oneGov before applying.

At a glance

Company or sole proprietorship?

Both are registered online and processed the same working day. The main differences are who can own the business and the documents you need.

Private company (Pvt Ltd)Sole proprietorship
LawCompanies Act (Law No. 7/2023)Sole Proprietorship Act (Law No. 19/2014), amended by Law No. 24/2021
Who can own itOne or more shareholders (extra documents if a shareholder is a company or a foreigner)Maldivian citizens only
Key peopleManaging Director (required) and directors; Company Secretary optionalThe owner, plus an optional representative
Core documentsMemorandum & Articles of Association, MD declaration, tax form, ID cardsOwner's ID card and the tax form with consent letter
Government feeMVR 2,000Shown at the payment step
Processing timeSame working daySame working day
Bank accountOpen with BML or MIB after registration (Step 3)Open with BML or MIB after registration (Step 3)
Step 1 — both business types

Reserve your business name.

No documents are needed and anyone can apply. Reserving a name does not let you trade under it — you still have to register the business.

  1. Search & apply

    On oneGov choose “Name Reservation”, click Start Now, then Proceed to the Business Portal.

  2. Approved same day

    Completed applications are processed the same working day. You are notified by email and SMS.

  3. Use it within 14 days

    An approved name is held for 14 days — the expiry date is shown on your application.

  4. Register the business

    Continue with the company or sole proprietorship registration below before the reservation expires.

Step 2a

Register a private company.

Fee: MVR 2,000Same working dayCompanies Act 7/2023

Who can apply & eligibility

  • The application is submitted by an authorised representative, such as the Managing Director or a delegated person
  • The company must appoint a Managing Director
  • A Company Secretary is optional — if appointed, they must be a Maldivian citizen
  • Directors must be Maldivian citizens, except in foreign-investment, government or government-shareholding public companies

Documents you will need

  • Managing Director's Declaration
  • Company Secretary's Declaration (if a secretary is appointed)
  • Tax Responsible Person Information Form
  • Memorandum of Association
  • Articles of Association
  • ID card copies of the Company Secretary, every shareholder, every director and the Managing Director
  • Additional documents if any shareholder is a company or a foreign individual or entity

How to apply

  1. Complete the name reservation (Step 1)
  2. On oneGov, open “Company Registration & Changes” and choose Register a New Company
  3. Click Proceed to go to the Business Portal
  4. Fill in the form, attach the documents and submit

After you apply

  • You receive email and SMS updates and can track progress under My Applications
  • The Certificate of Registration, Corporate Profile Sheet and constitution documents are sent by email
  • Later changes (directors, MD, secretary, name, constitution, capital) cost MVR 100 each
Step 2b

Register a sole proprietorship.

Maldivian citizens onlySame working dayAct 19/2014

Who can apply & eligibility

  • Only Maldivian citizens can register a sole proprietorship
  • You must be the owner, or the representative authorised to apply for the business
  • Check that your business name is available (Step 1)

Documents you will need

  • Copy of the owner's National Identity Card
  • ID card copy of any appointed representative (if applicable)
  • Tax Responsible Person Information Form, with a consent letter for tax purposes

How to apply

  1. On oneGov, open “Sole Proprietorship Registration & Changes” and choose Register Sole Proprietorship
  2. Click Proceed to go to the Business Portal and submit
  3. Once approved, you are asked by email and SMS to pay
  4. Pay from My Applications — you are taken to BandeyriPay

After you apply

  • The Certificate of Registration and Corporate Profile Sheet are sent by email
  • Renew within one year of the registration expiring — no documents needed if ownership is unchanged
  • Name, address, representative and contact changes are made in the same service
Step 3 — both business types

Open your business bank account.

Bank of Maldives (BML)Maldives Islamic Bank (MIB)

Once you have your Certificate of Registration and Corporate Profile Sheet, open an account in the business's name — so business money stays separate from personal money from day one.

What the bank usually needs

  • The bank's account opening and information forms for the business
  • Information forms and ID cards (or passports) for owners, directors, shareholders and signatories
  • Certificate of Registration and Corporate Profile Sheet
  • For companies: Memorandum & Articles of Association and a board resolution in the bank's format
  • Original documents for verification — each bank may ask for more

We can open it for you

  • We prepare the forms, board resolution and KYC documents
  • Conventional (BML or MIB) or Shariah-compliant (MIB) accounts
  • Signatories and online banking set up
  • Included with our business registration service — or on its own for existing businesses
Business bank account opening
Before you start trading

Registration is the first step, not the last.

Permits & licences

Under the Business Registration Act (Law No. 18/2014), businesses must obtain the permits and licences their activity needs from the relevant government agency before trading.

Tax registration

The Tax Responsible Person form links the business to MIRA. Check whether you also need to register for GST before you start selling.

Renewals & changes

Keep registration, licence and renewal dates in a calendar, and update the registry whenever owners, directors or addresses change.

Foreign shareholders

Foreign investors need approval under the Foreign Investment Act first — see our foreign investment registration service.

FAQ

Business registration: common questions

How long does it take to register a business in the Maldives?

Name reservation, company registration and sole proprietorship registration are all processed the same working day once a complete application is submitted on oneGov.

How much does it cost to register a company?

The government fee to register a new private company is MVR 2,000. Later changes such as directors, Managing Director, company name, constitution or capital cost MVR 100 each. For a sole proprietorship, the fee is shown at the payment step after approval.

Can a foreigner register a sole proprietorship?

No. Only Maldivian citizens can register a sole proprietorship. Foreign investors usually set up a company after obtaining foreign investment approval.

Does a private company need a Company Secretary?

No, it is not mandatory. If a private company does appoint a secretary, that person must be a Maldivian citizen and their declaration form and ID card copy must be submitted.

How long is a reserved name held?

An approved name is reserved for 14 days. The expiry date is shown on the application, so register the business before then.

Let's talk

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We prepare the documents, submit the application and set up your tax registration — so your business starts on a solid footing.

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