Mv Company Formation

---
name: mv-company-formation
description: "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."
license: "AGPL-3.0-or-later (code) / OpenAccountants Guide License v1.0 (content)"
metadata:
  source: openaccountants
  openaccountants_url: "https://www.openaccountants.com/skills/mv-company-formation"
  jurisdiction: "MV"
  tax_year: "2025"
  last_updated: "2026-07-13"
---

# Maldives Company Formation & Entity Choice

## Entity types and incorporation

- **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 director  _(Companies 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 requirements  _(Companies Act 2023 (Law No. 7/2023))_
- **Other business forms** — Sole proprietorship, partnership, and cooperative society are available under their respective laws  _(Sole Proprietorship Act / Partnership Act / Co-operative Societies Act)_
- **Minimum shareholders (private company)** — 1  _(Companies Act 2023 (Law No. 7/2023) — https://sandalawyers.com/insights/companies-act-private-limited-companies)_
- **Minimum directors (private company)** — 1  _(Companies Act 2023 (Law No. 7/2023))_
- **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 Registration  _(Companies 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 tourism  _(Tax 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 year  _(Companies 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 MIRA  _(Companies 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))_

## Today's figures and who stands behind this skill

This file is an AI skill (tax rules your AI follows) from OpenAccountants, copied on 2026-07-13. Rates, thresholds and deadlines change. For the current version of this skill, its official sources and the named accountant (if any) who stands behind it, call `get_skill` with slug `mv-company-formation` on the OpenAccountants connector (https://www.openaccountants.com/connect), or read https://www.openaccountants.com/skills/mv-company-formation. If neither is available, confirm every figure against the official source pages cited above before relying on it.