Source-cited draft: company formation & entity choice for Maldives (tax year 2025) — rates, thresholds and rules with primary-source citations. Unverified; pending local-accountant review.
Source-cited draft.Written from sources but not reviewed by a licensed practitioner, so it may be incomplete or wrong. General reference only; don't file or take a position on it without professional review.
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Every figure is drawn from this Tax Guide and cited to its source.
Companies Act 2023 overview
Companies are formed under the Companies Act 2023 (effective 1 January 2024), administered by the Registrar of Companies at the Ministry of Economic Development and Trade. The Act modernised registration, allows single-shareholder/single-director private companies, and replaced the old annual fee with regulatory service fees.Companies Act 2023 (Law No. 7/2023)
Private limited company
Most common entity; name must end with "Private Limited" or "Pvt Ltd"; may have a single shareholder and a single directorCompanies Act 2023 (Law No. 7/2023) — https://rcolawyers.com/wp-content/uploads/2024/06/Guide-on-Maldives-Companies-Act-2023.pdf
Public company
Company permitted to offer shares to the public; subject to higher governance and disclosure requirementsCompanies Act 2023 (Law No. 7/2023)
Other business forms
Sole proprietorship, partnership, and cooperative society are available under their respective lawsSole Proprietorship Act / Partnership Act / Co-operative Societies Act
Minimum shareholders (private company)
1Companies Act 2023 (Law No. 7/2023) — https://sandalawyers.com/insights/companies-act-private-limited-companies
Minimum directors (private company)
1Companies Act 2023 (Law No. 7/2023)
Other Maldives computations in the OpenAccountants Tax Library.
Minimum share capital (private company)
No prescribed statutory minimum; a private company may register with a single share ((approx — confirm current Registrar fee schedule))Companies Act 2023 (Law No. 7/2023) — https://rcolawyers.com/guide-on-the-maldives-companies-act-2023/
Registering authority
Registrar of Companies, Ministry of Economic Development and Trade (via the business eGov / Tradenet portal)Companies Act 2023 (Law No. 7/2023) — https://business.egov.mv/
Core incorporation steps
Reserve company name, submit memorandum & articles of association with shareholder/director details to the Registrar, pay registration fee, obtain Certificate of RegistrationCompanies Act 2023 (Law No. 7/2023)
Post-incorporation tax registration
Register with MIRA for a Taxpayer Identification Number (TIN); GST registration required if thresholds met or operating in tourismTax Administration Act (Law No. 3/2010) — https://lookuptax.com/docs/tax-identification-number/maldives-tax-id-guide
Annual board meeting requirement (private company)
At least 4 board meetings per yearCompanies Act 2023 (Law No. 7/2023) — https://www.crowe.com/mv/insights/key-amendments-of-the-companies-bill
Core annual compliance
Annual general meeting and annual return to the Registrar, maintenance of statutory registers, regulatory service fee, and annual income tax/GST filings with MIRACompanies Act 2023 (Law No. 7/2023)
Foreign investment
Foreign-owned companies require registration under the Foreign Investment framework administered by the Ministry / Invest Maldives ((approx — confirm current foreign investment regulation))Foreign Investment Law / Companies Act 2023 (Law No. 7/2023)
Rendered from the canonical facts model. General reference only — confirm with a qualified professional before acting.
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