Guide to Business Permits and Licenses in the Maldives

Navigating the business regulatory framework in the Maldives is crucial for both local and foreign investors. This guide provides a detailed overview of the permits, licenses, and approvals necessary for starting and running a business in the Maldives.

Initial Business Registration

Before you can begin operations, your business must be properly registered:

Company Registration: Register your business with the Ministry of Economic Development.
Tax Registration: Obtain a Tax Identification Number (TIN) from the Maldives Inland Revenue Authority (MIRA).
Foreign Investment Approval: If applicable, secure approval from the Ministry of Economic Development under the Foreign Investment Act.

Sector-Specific Licenses

Depending on your business sector, additional licenses may be required:

Tourism: Obtain a tourism license from the Ministry of Tourism for hotel and resort operations.
Construction: Secure a construction permit from the local council and the Ministry of National Planning and Infrastructure.
Import/Export: Import and export licenses are required from the Ministry of Economic Development for trading goods.
Fishing: A fishing license is necessary for commercial fishing activities, issued by the Ministry of Fisheries and Agriculture.

Environmental Compliance

Businesses impacting the environment must adhere to strict environmental guidelines:

Environmental Impact Assessment (EIA): Required for projects that potentially impact the environment, overseen by the Environmental Protection Agency (EPA).
Waste Management License: Necessary for businesses that handle, dispose of, or treat waste materials.

Local and Regional Requirements

Local councils in the Maldives may issue additional regulations and permits, particularly for businesses located on different islands:

Local Council Business Permits: Required for operational businesses within specific atolls or islands.
Land Use Permits: Necessary for businesses that require specific land use approvals, particularly in tourist zones.

Steps to Obtain Business Licenses in the Maldives

The process for obtaining business licenses involves several key steps:

Determine the specific licenses and permits required for your business based on its activities and location.
Prepare and submit the necessary documentation to the relevant authorities.
Pay the required fees for each license or permit application.
Comply with any inspections or additional requirements.
Receive your permits and licenses, keeping track of any renewal dates or ongoing compliance obligations.

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