Understand the Jurisdictions Setup Requirement Before Proceed Your Company Incorporate in Maldives
Maldives, a South Asian country has challenges to running a business, but in return, it provides immense opportunities. Mainly a haven for those who are interested in tourism and hospitality business, Maldives is increasingly becoming the choice of foreign investors because of several benefits. However, registering a company in the Maldives could be a lengthy process for many foreigners, and keeping that in mind, we introduce a service what we call “Company Incorporate in Maldives.”
3E Accounting, one of Asia’s leading firms providing services related to company registration and finance has now decided to extend its services to the Maldives. We have partnered with various financial experts and accountants in the Maldives who are going to register your business for you. This means from now on, to open a company in Maldives, all you need to do is call 3E Accounting and state your requirements. After that, we will do complete the entire Maldives company formation process for you in minimal time and cost.
Company Incorporate in Maldives: Reasons to Start a Company in Maldives
- Low Cost of Opening and Running a Business; the minimum share capital is only USD 130
- Transparent Legal System
- Very favourable taxing scheme: there are no personal taxes, and the business profits tax is only 15%
- No restrictions on foreign exchange, however
- You can hire foreign workers. At the same time, the local workforce in the Maldives is skilled and not expensive
Company Incorporate in Maldives: Types of Company in the Maldives
Among the various types of companies in Maldives, the Limited Liability Company (LLC) is the most recommended one. It is also the most beneficial to foreign investors.
To open an LLC in Maldives, you will need a company name, which can’t be similar to existing companies in the market. The minimum share capital is USD 130, and shareholders’ liabilities depend on the amount of investment they made for the company. Remember that in case of a Private LLC, it can’t have more than 50 shareholders.
Things You Will Need to Open a company in Maldives
You will need the following documents to register a company in the Maldives:
- Memorandum and Articles of Association
- Company Name
- Registered Office Address
- A Short Description about the Company’s Business Plan
- Designation of whether the corporation is public limited or private limited
- Proof of the capital paid
- A declaration that the company is a limited liability for one of its members
- Shareholder’s particulars including the name, address, and the number of shares
You will also need an article of association along with the Memorandum.
You should include the following information in your articles of association:
- Company Name
- Details about the members of the Board of Directors and their rules
- Number of shareholders and their particulars
- Signature of witnesses along with their names and addresses
How Much Time Does it Take to Complete the process of Company Incorporate in Maldives?
It might take a lot of time depending on how accurate the paperwork is. Work with 3E Accounting; then we will register your Maldives company in as less as a week.