Maldives: Operating a Business

Setting Up a Company

Private Limited Company (Ltd): Number of partners: minimum two, maximum 50
Capital (max/min): MVR 2,000
Shareholders and liability: limited to the shares
Private Limited Company (Ptd): Number of partners: minimum ten
Capital (max/min): MVR 1,000,000
Shareholders and liability: limited to the shares
Partnership: Number of partners: minimum two, maximum 20
Capital (max/min): no minumum capital required
Shareholders and liability: All the partners shall be jointly and severally liable for all the debts and other liabilities of the partnership incurred during the time they are partners of the partnership
Sole proprietorship: Number of partners: one
Capital (max/min): no minumum capital required
Shareholders and liability: unlimited liability

Setting Up a Company	Maldives	South Asia
Procedures (number)	6.0	7.1
Time (days)	12.0	14.6

Source: Doing Business.

Business Setup Procedures: Consult Doing Business Website, to know about procedures to start a Business in Maldives.

	2018	2019	2020
Labour Force	285,624	297,757	294,396

Source: International Labour Organization, ILOSTAT database

Source: International Labour Organization, ILOSTAT database

Legal Weekly Duration: Up to 48 huors per week
Retirement Age: 65 years
Working Contracts: Employment contracts in Maldives may be for either a permanent or fixed-term (up to two years). The maximum duration of a probation period can be up to 3 months, and it cannot be extended.
Working contracts must be in writing and a copy must be given to the employee (under employment law, a penalty sum between MVR 2,000-20,000 will be levied if an employer fails to provide a copy of the employment contract to the employee).
Labour Laws: International Labour Organization (ILO), Information System on International Labour Standards - Maldives

Social Contributions: Social Security Contributions Paid By Employers: Minimum 7%
Social Security Contributions Paid By Employees: Minimum 7%

Labour Unions: Maldives Trade Union Congress (MTUC)
Tourism Employees Association of Maldives (TEAM)
Unionisation Rate: The Maldives Trade Union Congress (MTUC) is the National Center trade unions and workers organizations representing some 10,000 workers in Maldives
Labour Regulation Bodies

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