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Understand the Jurisdictions Setup Requirement Before Proceed Your Maldives Company Incorporation Services
Why Incorporate a Company in Maldives?
The government in Maldives understands that foreign investment has always been important in the economic development of the country. Maldives remains an attractive investment option for investors to consider incorporating a company there because of the stable and transparent legal system which Maldives operates on, along with political stability.
The Maldives has a liberal trade environment, a dynamic private sector and a development-oriented legal structure, all of which play a contributing role in making the economic environment one that is conducive to trade and investments. Investors consider Maldives company incorporation an option because of the foreign investment law which guarantees the security of foreign and domestic investments.
Maldives is also vast in natural resources which some remain to be tapped into. Throw in a young, dynamic and eager workforce and it is easy to see why Maldives is an attractive investment option for businesses to consider a Maldives company incorporation.
Maldives Company Incorporation Procedure
Incorporating a company in Maldives would come with its own set of bureaucratic and legal procedures that any investor seeking to incorporate a company here would have to undertake. It is strongly advised that investors consider enlisting the help of professional company incorporation services to handle the process as efficiently and quickly as possible with the minimum amount of hassle.
An overview of what an investor can expect when proceeding with the Maldives company incorporation process is:
- To first reserve a unique company name and obtain the standard forms for incorporation from the Registrar or Companies. The Companies Act 1996 in Maldives governs the rules on what are acceptable company names, and investors would need to seek approval to ensure their company name is eligible for use. The standard forms for submission can be downloaded from the website.
- Make the payment for the registration fees with the Ministry of Economic Development. All registration fees would need to be paid to the Ministry only.
- Register with the Registrar of Companies and Apply for a Tax Identification Number. Investors seeking to incorporate a company must apply for registration by submitting a company registration application form, a name search approval form, 2 copies of the memorandum of association, 2 copies of the articles of association, an acceptance letter from the Managing Director, an acceptance letter from the Company Secretary and the national identification card copies of all the individuals involved in the company which include the shareholders, company secretary and board of directors.
- Make a company seal for the business with the seal maker. The Companies Act 1996 requires that all companies make a company seal.
- Register the company seal with the Registrar of Companies. All businesses are required to get the company seal registered.
- Register with the Maldives Pension Administration Office. The Maldives Pension Act of 2009 requires that employers register the business at the Maldives Pension Administration Office.
3E Accounting is an expert in company incorporation services dedicated to helping investors establish their company quickly and efficiently. For more information on Maldives company incorporation services, contact us today.