Maldives Travel Agency Registration Procedure

WHOLLY OWNED AND OPERATED BY LOCALS


Prerequisite Checklist

Operating Travel Agency included in the Memorandum of Association

All shareholders/Partners are Maldivian Citizens

Business name registered in the Maldives

Memorandum of the Company does not state foreigners to be the share holders of the company.


Completing submitting the forms

Copy of Registration, Articles and Memorandum of Association of Company

ID card copies of all shareholders and Directors

Official document confirming the Shareholders and Directors of the company if different from the registration documents

Partnership, copy of Registration and Partnership Agreement

ID card copies of all partners

Official document confirming the current partners if different form the Partnership Agreement

Business name registration from the Ministry of Economic Development (MED)

Original of previous license (applicable for renewal)



Processing & Payment Fees


No fees required

Once all the documents are complete and approved, MOT will call for an inspection to check the travel agency office.

After conducting an inspection of the office if the travel agency complies with the mandatory standards of the Ministry, then the license will be processed.



Collection of the Registration Certificate & Other Documents

The Ministry will call the operator to collect the license.

Check the license certificate for verification and if any problem is noticed, please consult a registration unit staff.

How to Registering a Guesthouse in Maldives?

WHOLLY OWNED AND OPERATED BY LOCALS

Prerequisite Checklist

All shareholders/Partners are Maldivian Citizens
Memorandum of the Company does not state foreigners to be the share holders of the company.
If guest house is Operated by a company the Memorandum of Association should include guest house operation
Business name registered at Ministry of Economic development or Local Council

Completing submitting the forms

If the operator is a company need to submit the following documents:
Copy of Registration, Articles and Memorandum of Association of Company
ID card copies of all shareholders and Directors
Official document confirming the Shareholders and Directors of the company if different from the registration documents
Partnership, copy of Registration and Partnership Agreement
ID card copies of all partners
Official document confirming the current partners if different form the Partnership Agreement

Original of previous license

If the operator is other than the owner, a copy of the lease/management agreement. (There should be a clause in the agreement allowing for the use of the premises as a guesthouse)
If the operator is an individual copy of the National ID card
Permission from the relevant Government Authority to use the building as a Tourist Guesthouse
A copy of registry of the building
A copy of whole cover insurance of the building
If a Restaurant is operating in the Guesthouse need to submit the relevant registrations from the relevant Government Authorities


Processing & Payment Fees

A registration charge of MRF 5000 for all new Guesthouse registrations
Once all the documents are complete and approved, Ministry will call for an inspection to check the guesthouse.
After conducting an inspection of the guesthouse and if the guesthouse complies with the mandatory standards of the Ministry, then the license will be processed.

Collection of the Registration Certificate & Other Documents

The Ministry will call the operator to collect the license.
Check the license certificate for verification and if any problem is noticed, please consult a registration unit staff on

http://www.tourism.gov.mv/cat/procudure/
http://www.tourism.gov.mv/3601/procedure-for-a-registering-a-guesthouse-in-the-maldives/

How to Register an Hotel in Maldives?

WHOLLY OWNED BY LOCALS BUT CAN BE OPERATED BY FOREIGNERS


Prerequisite Checklist

• Operating Tourist Hotel included in the Memorandum of Association.
• Business name registration.

Completing submitting the forms

If the operator is a company need to submit the following documents:

• Copy of Registration, Articles and Memorandum of Association of Company.
• ID card copies of all shareholders and Directors.
• Official document confirming the Shareholders and Directors of the company if different from the registration documents.
• Partnership, copy of Registration and Partnership Agreement.
• ID card copies of all partners.
• Official document confirming the current partners if different form the Partnership Agreement

Original of previous license

• If the operator is other than the owner, a copy of the lease/management agreement. (There should be a clause in the agreement allowing for the use of the premises as a tourist hotel).
• If the operator is an individual copy of the National ID card.
• If the operator is a foreign individual copy of Passport, Work Permit and Visa.
• Permission from the relevant Government Authority to use the building as a Tourist Hotel.
• A copy of registration certificate for land and building.
• A copy of whole cover insurance of the building.
• If a Restaurant is operating in the Guesthouse need to submit the relevant registrations from the relevant Government Authorities.

Processing & Payment Fees

• A registration charge of MRF 10, 000 for all new Tourist Hotel registrations.
• Once all the documents are complete and approved, Ministry will call for an inspection to check the guesthouse.
• After conducting an inspection of the tourist hotel and if the tourist hotel complies with the mandatory standards of the Ministry, then the license will be processed.

Collection of the Registration Certificate & Other Documents.

• The Ministry will call the operator to collect the license.
• Check the license certificate for verification and if any problem is noticed, please consult a registration unit staff.

Bodufolhudhoo Maldives in Alif Alif Atoll

By: Mohamed Sanih

Bodufolhudhoo Maldives

Bodufolhudhoo is a small Maldivian island in the Alif Alif Atoll. Bodufolhudhoo is a tourist’s paradise as it has one of the best snorkeling and diving sites in the Maldives. Apart from the beautiful and scenic environment of the island, it is surrounded by many resort islands including Nika Island Resort and Spa among others.

To get to Bodufolhudhoo, take a flight to the capital city of Male. From Male, Bodufolhudhoo is about 83 kilometers away. Ferries are available to take you from Male to the island of Bodufolhudhoo. When you get to Bodufolhudhoo, you will be treated to the hospitality of the Maldives in its most natural form.

If you are looking to have an island to yourself, the island of Bodufolhudhoo is a perfect choice. There are many guesthouses in Bodufolhudhoo that provide excellent service. Right now, the hospitality industry in the Maldives is still expanding, and this presents a great opportunity for investors all over the world.

The island of Bodufolhudhoo is a small community with a thriving economy based on fishing and tourism. The primary occupation of the locals is fishing, and this has been the mainstay of the Maldives for many generations. But the clear and pristine waters of the islands and their excellent beaches and paradisiacal experience has drawn thousands of holidaying families to the tropical calmness of the islands.

Because the island of Bodufolhudhoo is located in the Alif Alif Atoll, it makes it a prime destination for out-of-the-world diving and snorkeling experiences. The government has put in place incentives to help local and foreign investors contribute to the local tourism industry. You can also invest in Bodufolhudhoo Maldives and reap the rewards of the booming tourism market. One of the best investments is to build a guesthouse in Bodufolhudhoo Maldives. Its proximity to popular island resorts makes it a favorite of island hopping tourists who want to have a feel for the environment.

Some of the popular tourist attractions in and around the island of Bodufolhudhoo Maldives include the popular Kudafolhudhoo Harbor and the Mathiveri Harbor. You shouldn’t miss the Mathiveri Ferry Terminal if you came in with a ferry. But if you came by seaplane, make sure to visit the ferry terminal to have a feel of life on the island.

Bodufolhudhoo is governed by an Island Council, like every other island in the Maldives. It has a helipad, a health center, a school, utility department, shops, guesthouses, and restaurants. Tourists from neighboring islands come to Bodufolhudhoo to shop and have some quality time at the private beach where they can take a sunbath in their bikinis. Since the island is not big, the common mode of transport is walking, but people also use the bicycle and motorcycles.

The island Council created Sunset Beach which is the private beach so that every tourist can enjoy their stay to the fullest when they visit the island. There are many guesthouses to stay on Bodufolhudhoo Maldives. One of the best is Yonder Retreat. The guesthouse provides top-range service with luxurious deluxe double rooms that are fully serviced. All rooms come with air conditioning, satellite TV, 24/7 wife, and so much more. The guesthouse serves Italian, Indian, and Continental dishes. The Yonder Retreat also provides different kinds of fun activities including snorkeling, fishing, diving and a wide range of water sports. A reef is close by to enjoy captivating views of marine life, and Sunset Beach is only two minutes away.

Another guesthouse you can stay in Bodufolhudhoo is the Castle Inn. The guesthouse provides great customer services, well-tended rooms, and excellent food. You can also stay at the Holiday Village Retreat, Lagoon View Maldives, Manta Inn, Surf Retreat and the Nika Island Resort and Spa among others. You are sure of getting the best island experience at the guesthouses in Bodufolhudhoo.

Bodufolhudhoo offers an unforgettable holiday experience with its cool atmosphere, clear waters brimming with marine life and amazing hospitality from the locals. It is also one of the eco-friendliest islands in the Maldives as it was the first island in the country to outlaw the use of single-use plastic products. There is ample opportunity to visit neighboring resort islands and transportation between islands is easy with speedboats. Now is the best time to invest in Bodufolhudhoo Maldives as the tourism economy continues to boom. If you want to build a guest house in Bodufolhudhoo Maldives, all you have to do is contact the Island Council or Local Government Authority for the requirements.

The island of Bodufolhudhoo Maldives is a traveler’s paradise, but that is not all. It is also fast becoming an investors dream with the many investment opportunities that offer amazing returns. Whether you are a tourist or a businessman, Bodufolhudhoo Maldives is a friendly and interesting island for everybody.

Island of Felidhoo - Vaavu Atoll - Republic of Maldives

By: Mohamed Sanih

Felidhoo Island

Felidhoo Island is the capital of Vaavu Atoll in the Maldives is made up of 19 beautiful islands and has the longest unbroken reef in the Maldives. The atoll is the smallest in the country and is located about 40 miles away from the capital city of Male. The boot-shaped atoll is 60 minutes by speedboat from Male and 5 hours by Dhoni, but the best way of experiencing the Felidhoo atoll is to go by liveaboard charters.

The beautiful and scenic environment of Felidhoo atoll makes it one of the most popular tourist attractions in the Maldives. One of the reasons for this is because of the breathtaking diving sites in Vaavu. Felidhoo has a long history with tourism as the atoll has been welcoming tourists since 1975. It is a beehive of tourist activity all year round and the perfect place to be if you want to see mantras and sharks in their natural habitat. The atoll is open for diving all year round, but January to May are the best time for perfect dives.

Felidhoo is sparsely populated and has only about 500 inhabitants The primary occupation of the people is fishing, but they also engage in boat building. The neighboring island of Keyodhoo is a favorite anchorage for safari boats taking divers and snorkelers out for the best diving experience of their lives. The atoll is the most undeveloped in the Maldives, making its pristine waters and beautiful islands the ideal holiday paradise for every level of scuba diving and island experience.

Vaavu has some of the best diving sites in the world. One of the most popular diving sites, rated as one of the top five dive sites in the world is Vaavu atoll's Fotteyo Kandu. The Fotteyo Kandu has a narrow channel and small caves, swim-throughs and large overhangs that make it a diver's paradise There are so many pictures to take in the unbelievably rich aquatic environment brimming with marine species such as the barracuda, white tip reef shark, and titan triggerfish.

The best snorkeling experience is right in the island of Felidhoo, and you can spot different types of marine life. Miaru Kandu and the Dhiggiri Corner are reefs full of marine life. These sites are the perfect snorkeling sites if you want to see fish such as the giant tuna, gray reef sharks, eagle rays and many other vibrant aquatic species. The Vaavu island of Alimathaa also presents an unforgettable night diving experience. Night dives at the Alimathaa resort provide an opportunity to see the resident nurse sharks, Tahitian stingrays, and black-blotched stingrays that come for the free meal offered by the resort. You can also encounter the whale shark on the eastern side of the atoll at certain times of the year.

Miyar Kandu or the Big Shark Channel also offers tourists a fantastic diving experience with its beautiful scenery and abundance of marine species such as large schools of the grey reef sharks, white tip reef sharks, Napoleon wrasse, mantas, and many other colorful reef fish.

Most tourists that visit the reefs can’t get enough of the atoll on one visit, and so they come back over and over again. Some guesthouses and resorts cater to every need of the tourists. The people are very friendly and are hospitable. The vast array of dive sites makes Vaavu a must-visit for the adventurous diver. The atoll is easy enough for the beginner diver to navigate and sophisticated enough to give the advanced diver the satisfaction of conquering the depths that could be as deep as 40 meters in some places.

Whether its Fotteyo Kandu with its warm current and deep channels, Devana Kandu, Dhekunu Kandu, or the Bodu Miyaru Kandu, there are no dull moments in Vaavu atoll. The vast array of marine life is befuddling, and you would be rendered speechless by the vastness of the riches of the sea and the beauty of its amazing species. If you want to experience marine life at its most sublime, a visit to Felidhoo atoll in the Maldives is your best shot at this lifetime event!

Economic Landscape of Maldives - Part 02 - Doing Business in the Republic of Maldives

2.1 GOVERNMENT

The Maldives is a unitary state and a sovereign, independent and democratic Republic founded on the principles of Islam.

The fundamental principles and framework for the functioning of the executive, legislative and judicial branches are specified in the Maldivian constitution.

A) EXECUTIVE

Executive power is vested in the President, who is the Head of State, the Head of Government and the Commander in Chief of the Armed Forces.

The Cabinet of Ministers are appointed by the President, and discharges the responsibilities and functions assigned to them by the President.

The current President His Excellency Abdulla Yameen Abdul Gayoom, was elected in November 2013 to serve a term of 5 years between 2013-2018.

B) LEGISLATIVE

The legislative branch of the Maldives is the People’s Majlis, composed of members representing parliamentary constituencies that currently number at 85. The members are directly elected in a vote taken among their respective constituents and serve for a term of 5 years.

C) JUDICIARY

The Judicial power rests with the Supreme Court, the High Court and Lower Courts.

The Supreme Court is the highest authority for the administration of justice in the Maldives. The Chief Justice is the head of the Supreme Court.

2.2 LEGAL SYSTEM:

The Maldives practices a tripartite presidential system of governance ushered in with the enactment of the current Constitution in 2008. The Maldivian legal system is a common law system with the courts having a wide leeway to interpret and apply the law.

Statutes and delegated legislation in the form of Regulations appear on the Attorney General’s Office’s (the AGO) website (http:// www.mvlaw.gov.mv). The AGO has also recently published translations of local statutes as part of a publication titled Consolidated Laws of Maldives. The AGO is also working with LexisNexis Asia Pacific to introduce an online database of laws and court judgments in both the local Divehi language and English.

Maldivian law is a complex admixture of Shariah & English common law. However, trade-related legislation is influenced mostly by similar statutes and common law principles from English and other Western jurisdictions. The judiciary has also embraced foreign case law from jurisdictions as diverse as England, the United States and Australia as a guide to interpretation of local trade-related statutes. Common law principles from Western jurisdictions have also been endorsed and applied in several commercial cases before Maldivian courts. Meanwhile the Contracts Act (Law No.: 4/91) allows contracting parties to agree on the law that should govern their agreement.

The court system is adversarial. There are three tiers of courts. In commercial matters the lowest tier is the Civil Court (in Male’ City – which hears high-value commercial claims) and magistrate courts (in the islands). Appeals are heard by the High Court which has branches in Male’ City as well as the North and South of the country and finally by the Supreme Court which stands at the apex of the judiciary.

With the enactment of the Arbitration Act (Law No.: 10/2013) the Maldives now recognizes arbitration as an alternative means of dispute resolution. Also although Maldives is not a party to the New York Convention, foreign arbitral awards are enforced under Section 72 of the Arbitration Act.

2.3 KEY BUSINESS LEGISLATIONS

The key pieces of legislation relating to registering and operating a business in the Maldives are provided below:

Business Registration Act: 

Requires every person carrying on business in the Maldives to register the business entity in one of the following prescribed forms:

• Company
• Partnership
• Cooperative Society
• Sole Proprietor

Companies Act: 

Governs the registration as well as the regulatory and operational requirements for public and private companies established in the Maldives.

Partnerships Act: 

Governs the formation and regulation of Partnerships in the Maldives.

Cooperative Societies Act: 

Governs the formation and regulatory matters on the establishment and operation of Cooperatives in the Maldives. This form of business is confined for Maldivians.


Sole Proprietorship Act: 

Governs the registration of sole proprietorships and the specific procedures relevant to operating a sole proprietorship in the Maldives. This form of business is confined for Maldivians.

Import/Export Act: 

Governs the regulatory regime relating to import, export and reexport of products, including the import duty regime and provisions relating to duty exemption.

Foreign Investment Act: 

Governs all foreign investments that are established and operated in the Maldives, except those foreign investments allowed under the Special Economic Zones Law.

Special Economic Zones Act: 

Provides for the principles and processes for the designation of Special Economic Zones in the Maldives, and the incentives and regulatory flexibilities allowed for such investments.

Business Profit Tax Act: 

Outlines the provisions for the establishment and implementation of an administrative framework for the purpose of implementing Business Profit Tax in Maldives. It outlines the applicable tax rates, the registration procedures and tax calculation principles.

Goods and Sales Tax Act: 

Outlines the provisions for the imposition of “Goods and Services Tax”, on the value of goods and services supplied in the Maldives. The law makes a clear distinction between suppliers of tourism goods and services and suppliers of other (general) goods and services, which are taxed at different rates.

2.4 PRINCIPAL REGULATORS:

Ministry of Economic Development is the authority overseeing the implementation of laws & regulations governing the registration of business entities in the Maldives. The Ministry also has the mandate to implement the legal regime for foreign investments as well as all other laws and regulations pertaining to general trading, consumer and intellectual property rights.

The Maldives Monetary Authority (MMA) acts as the Central Bank of the Maldives and was established on 1st of July 1981, under the mandate provided by the “MMA Act” of 1981. MMA is responsible for supervising and regulating institutions in the financial sector, apart from securities related institutions, which fall under the purview of the Capital Market Development Authority.

The Capital Market Development Authority (CMDA) is the institution responsible for developing and regulating the capital market and the pension industry in the Maldives. It has statutory powers to license securities market intermediaries including brokers, dealers, investment advisers, asset managers, custodians, credit rating agencies as well as the stock exchange and central depositories.

Island of Guraidhoo in the Maldives (Kaafu Atoll)

By: Mohamed Sanih

Island of Guraidhoo, Maldives

About the Island

One of a few inhabited islands of Kaafu Atoll, Maldives, Guraidhoo can be found in South Male Atoll. It is about 32km away from the airport in Male, Maldives’ capital city, and can be accessed in about 40 minutes by speedboat; but this has to be arranged from the off with your hotel or guest house. A public ferryboat will take upwards of 100 to 120 minutes to arrive Guraidhoo Island from Male.

This rather compact island is home to about 1800 persons. Guraidhoo is generally recognized for its famous surfing regions, snorkeling alongside dolphins and turtles, and its great diving spots.

Island Facilities

Compared to Maafushi and some of the other less traveled islands of Maldives, Guraidhoo is quite well developed. With this development, though, comes a reduction in the size of your ‘playground’. The island boasts a police station, hospital, local stadium, a school, and a children’s playground.

The only mental hospital in all of Maldives can be found in Guraidhoo. There is also a center for people with special needs. This can take the total island population to over 2500.

A famous Maldivian tourist destination, the island of Guraidhoo is currently occupied by 10 guest houses, with more still to come. There is a semi-legal bikini beach located on the island for those seeking to strip down and cool off.

There are three restaurants located on the island for those wishing to dine out and try out the local cuisine in neat environments. Prices are generally fair with meals starting from as low as $3, services smooth, and atmosphere pleasant, in typical Maldivian fashion. You can get everyday necessities and groceries from one of the many small shops around the island. While there are a few big souvenir shops around as well.

Construction is currently underway for the establishment of a Water Sport Center which is expected to be completed this year (2018). To that end, a diving safari boat is also being constructed in a dry dock close to the Jetty.

Island Activities

Guraidhoo is generally considered a picnic island for budget travelers. Only inhabited since the 1970s, it is known for its clear white sandy streets. You can take full advantage of these glorious white sands by visiting the one beach on the island – which can be found in front of the Kandooma Resort.

The beach is very well maintained and seems to sparkle at all times, making for a good relaxation spot. You can also find several places to watch the evening sunset right on the opposite side of the beach.

Guraidhoo’s major appeal, though, remains its many snorkeling spots. A fairly cheap snorkeling trip will take you to the magnificent house reef which is some distance away from the island. You can always ask around for snorkeling spots where you are likely to come in contact with dolphins and sea turtles to make your experience all the better.

Diving is yet another major attraction of Guraidhoo. With two dive centers located on the island, you are fully covered, whether you are a beginner diver or a long time professional. In fact, some visit this Maldivian island strictly for its splendid diving spots.

Beginner divers would appreciate the not too strong currents of the waters around Guraidhoo. 

Exploring the underwater world will bring you in close personal contact with rare frogfishes, sharks, sting ray fish, stunning soft corals and amazing shoals of fish. You can also expect to see an octopus, a stone fish, and a lion fish.

Want to enjoy the water without necessarily going under? Plan to spend some time at one of the many surf houses and camps on the island. These camps usually go out with small groups of surfers, allowing you experience the waves in areas that are mostly uncrowded with not so powerful, but very elegant, surf breaks that particularly appeals to intermediate as well as advanced surfers.

With the island of Maafushi only about 10 minutes away, a trip to that island can fit into your itinerary. Indeed, there are endless possibilities for those who choose to visit this island.

Invest in Guraidhoo Today!

Guraidhoo is a rather colorful island with colorful concrete, houses, houses made of coral chunks, and very much modern infrastructure. It is a fairly new island, in terms of human habitation, and cannot particularly boast of any concrete industries.

For the most part, residents join either the boat construction industry, the health care sector (to service the psychiatric hospital located there), or join the tourism industry. In fact, local and nearby resorts and guesthouses are the biggest employers of labor on the island. You can tap into this massive potential by building a guesthouse in Guraidhoo today.

Like the rest of Maldives, Guraidhoo is dependent on tourism. As a result, legislations have been put in place to improve and encourage tourism in the region. The region is also blessed with certain infrastructural developments that make it a more attractive option for tourists looking to spend some time, not just those planning quick one-day trips.

With a friendly local people willing to welcome tourists and visitors, you can be sure that your guests will be coming into warm, welcoming arms. Great diving spots, fascinating underwater world, and stunning coral reefs all pull together to make Guraidhoo a great investment destination.