Public company (Public Limited Company)Maldives
What it takes to form, own and run a public limited company in Maldives, and how its profit is taxed. Each figure links to the page it was read from.
This company type
At a glance
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ކުންފުނީގެ މެންބަރުންގެ ޢަދަދު ( 1އެކެއް) ނުވަތަ އެއަށްވުރެ
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ކޮންމެ ޕަބްލިކް ކުންފުންޏެއްގައި ،މަދުވެގެން ( 2ދޭއް) ޑިރެކްޓަރުން
The registry’s and the law’s own pages do not mention it.
Form it
Who registers it
- Registry
- Formed without visiting
- Not stated
The registry’s and the law’s own pages do not mention it.
- Formed online
- Not stated
The registry’s and the law’s own pages do not mention it.
What it takes to form
- A notary
- Not stated
The registry’s and the law’s own pages do not mention it.
- A resident director
- Required
- Paying up the capital
- Not stated in Companies Act 7/2023 s.12 (read): no amount founders of a public company must buy and pay up before registration. The first-pass rule (MRF 1,000,000 paid by the founders) came from Law 10/96 s.7(d), the former law, and is not carried over.
Own it
Who may own and run it
- Directors
- At least 2 · one must live there · individuals only
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ކޮންމެ ޕަބްލިކް ކުންފުންޏެއްގައި ،މަދުވެގެން ( 2ދޭއް) ޑިރެކްޓަރުން
- Shareholders
- At least 1 · a company may be one
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ކުންފުނީގެ މެންބަރުންގެ ޢަދަދު ( 1އެކެއް) ނުވަތަ އެއަށްވުރެ
- Members
- At least 1 · one person may form it alone
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ކުންފުނީގެ މެންބަރުންގެ ޢަދަދު ( 1އެކެއް) ނުވަތަ އެއަށްވުރެ
- A local company secretary
- Required
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ސެކްރެޓަރީއަކީ ކުންފުނީގެ ... ދިރިއުޅޭ ވަޒަންވެރިވެ ދިވެހިރާއްޖޭގައި ޢާންމުކޮށް ... ފަރާތެއްކަމުގައިވުން
- A local registered agent
- Not required
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ރަޖިސްޓަރީކޮށްފައިވާ ދިވެހިރާއްޖޭގެ އެޑްރެހެއް އޮންނަންވާނެއެވެ
Each year, at the registry
Not in our records Annual registry fee, Accounts on the public record, Audit for a small company, Audit: none of these is in our records for the Public company (Public Limited Company).
Important dates
When each obligation falls due, as the authority states it.
Not in our records No dates for the Public company (Public Limited Company) are in our records.
What is public
- Directors
- Public
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އެއްވެސް އަގެއް ނެގުމަކާ ... ކުންފުނީގެ މެންބަރުންގެ ނަން ،ދާއިމީ އެޑްރެސް ... ކުންފުނީގެ ޑިރެކްޓަރުންނާއި މެނޭޖިންގ ޑިރެކްޓަރުގެ ނަން
- Shareholders
- Public
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އެއްވެސް އަގެއް ނެގުމަކާ ... ކުންފުނީގެ މެންބަރުންގެ ނަން ،ދާއިމީ އެޑްރެސް ... ކުންފުނީގެ ޑިރެކްޓަރުންނާއި މެނޭޖިންގ ޑިރެކްޓަރުގެ ނަން
Tax
Tax on profit
How this company type is taxed, which can differ from its place’s headline rate.
Varies · 0–15%+3 regimes
Companies are taxed at 0% on taxable income not exceeding MVR 500,000 in an accounting period and 15% on income above that (Income Tax Act, Law 25/2019, as MIRA states); the rate table is stated as not applicable to banks.
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Not exceeding MVR 500,000 0% More than MVR 500,000 15%
Work it out on a profit figure: the company’s tax, the owner’s, and what is left.
Special regimes that may apply
- Incentives Available to Zones (Schedule 1, read with section 23) free zone · 100% exempt
A developer of a zone, and any business project, service or investor inside a zone Special Economic Zones Act (Law No. 24/2014), section 23 and Schedule 1 - Special concessions for a zone established for sustainable townships (section 70-2) free zone · 5%
A zone established under section 20(i) of the Act, and its developer and investors Special Economic Zones Act (Law No. 24/2014), section 70-2 - Gross-basis charge on income of non-resident airlines and shipping operators (S.11(r) income) other · 2%
A non-resident shipping or aircraft operator in international transportation that has a permanent establishment in the Maldives Income Tax Act (Law No. 25/2019), section 11(r), as applied by the Maldives Inland Revenue Authority
Whether a company qualifies depends on its activity and conditions set in each statute.
- CFC rules in Maldives
- Not in our records
Close it
Closing it
The other end, which most guides leave out.
- Route
- Wound up in one of three ways: the company's own decision (board resolution confirmed by a special resolution of members), a court order, or a decision of the Registrar (Act 7/2023 s.195-196).
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ކުންފުންޏެއް އުވާލުމަށް އެ ކުންފުންޏަކުން ކަނޑައެޅުން؛ ނުވަތަ ... ކުންފުންޏެއް އުވާލުމަށް ކޯޓުން އަމުރުކުރުން؛ ނުވަތަ ... ކުންފުންޏެއް އުވާލުމަށް ރަޖިސްޓްރާރ ކަނޑައެޅުން
- Statutory fee
- Not in our records
Every business in Maldives
VAT
- Standard rate
- Not in our recordsThe tax authority’s pages have not been read for Maldives.
Payment and banking services
None of the services whose lists we hold names Maldives. Each provider, and what a listing means.
Reference
Its name and code
- Kind
- Public limited companyDerived our grouping, the same words in every country
- Name in law
- Public company (Public Limited Company)
- Identifier
- MV-PUBLIC-COMPANYA form ISO 20275 does not list.