Maldives: Operating a Business
In this page: Setting Up a Company | The Active Population in Figures | Working Conditions | Cost of Labour | Social Partners
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
- The Competent Organisation
- Maldives Business Registry
| 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.
The Active Population in Figures
| 2018 | 2019 | 2020 | |
|---|---|---|---|
| Labour Force | 285,624 | 297,757 | 294,396 |
Source: International Labour Organization, ILOSTAT database
| 2017 | 2018 | 2019 | |
|---|---|---|---|
| Total activity rate | 70.75% | 71.53% | 72.12% |
| Men activity rate | 84.82% | 85.68% | 86.59% |
| Women activity rate | 44.61% | 43.97% | 43.05% |
Source: International Labour Organization, ILOSTAT database
Working Conditions
- 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
Cost of Labour
- Social Contributions
-
Social Security Contributions Paid By Employers: Minimum 7%
Social Security Contributions Paid By Employees: Minimum 7%
Social Partners
- Labour Unions
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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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Latest Update: May 2024