Chapter 3 — Formation and Registration of Companies
1–18 of 18 provisions
Section 20 — Mandatory Registration
Chapter: 3 — Formation and Registration of Companies
A company may be formed under this Act by one of the following methods, provided that the requirements of this Act are fulfilled and the company is duly proposed for registration and registered— (a) where the company is established by an Act or Decree, in the manner specified in that Act or…
Text status: Unofficial English translation.
Section 21 — Application for Registration
Chapter: 3 — Formation and Registration of Companies
(a) An application for the registration of a company under this Act must be submitted to the Registrar in the manner prescribed under this Act. (b) Where a company is formed under section 20(b) of this Act, the following documents must be completed and submitted to the Registrar for registration—…
Text status: Unofficial English translation.
Section 22 — Application for Registration of State-Owned Enterprises
Chapter: 3 — Formation and Registration of Companies
(a) Where a State-Owned Enterprise is established by a Presidential Decree under section 15 of this Act, or by an Act passed by the People’s Majlis under section 16 of this Act, the Ministry of Finance shall submit an application to the Registrar for registration in the register specified in…
Text status: Unofficial English translation.
Section 23 — Effecting Registration
Chapter: 3 — Formation and Registration of Companies
Upon submission of an application for the registration of a company in accordance with sections 21 and 22 of this Act, the Registrar shall register the company and enter it in the register specified in section 231, provided that all requirements for registration under this Act have been fulfilled.
Text status: Unofficial English translation.
Section 24 — Certificate of Registration
Chapter: 3 — Formation and Registration of Companies
(a) Upon the registration of a company under section 23, a certificate of registration shall be issued to the company in the name of the Registrar and under the official seal of the Registrar. (b) The certificate of registration shall state— (1) the name of the company; (2) the registration…
Text status: Unofficial English translation.
Section 25 — Legal Effect of Registration
Chapter: 3 — Formation and Registration of Companies
From the date of registration— (a) the company becomes a legal entity separate from its members under the name specified in its certificate of registration; (b) the company has legal capacity to exercise all powers and carry out all responsibilities set out in its constitution; (c) the company…
Text status: Unofficial English translation.
Section 26 — Re-registration upon Conversion of Company Type
Chapter: 3 — Formation and Registration of Companies
A company registered under this Act may be converted from one type to another in accordance with this Chapter, provided that the company decides to undergo such conversion, applies to the Registrar for registration and is duly registered in the manner prescribed by regulations made under this Act.
Text status: Unofficial English translation.
Section 27 — Conversion of a Private Company to a Public Company
Chapter: 3 — Formation and Registration of Companies
(a) A private company may be registered as a public company only if the conversion is approved by a special resolution of the members, an application for registration as a public company is submitted to the Registrar and the company is subsequently registered as a public company in accordance with…
Text status: Unofficial English translation.
Section 28 — Conversion of a Government Company or Local Authority Company to a Public Company
Chapter: 3 — Formation and Registration of Companies
Unless otherwise provided by another law, the conversion of a government company or local authority company into a public company shall be governed by the principles and procedures set out in section 27 of this Act.
Text status: Unofficial English translation.
Section 29 — Conversion of a Public Company to a Private Company
Chapter: 3 — Formation and Registration of Companies
(a) A public company may be registered as a private company only if the conversion is approved by a special resolution of the company, an application for registration as a private company is submitted to the Registrar and the company is subsequently registered as a private company in accordance…
Text status: Unofficial English translation.
Section 30 — Conversion of a Government Company to a Private Company
Chapter: 3 — Formation and Registration of Companies
(a) A government company may be registered as a private company if any share in its capital is transferred to a person other than the Government in a manner permitted by law and the transfer is registered under section 163 of this Act. (b) Where shares of a government company are transferred to a…
Text status: Unofficial English translation.
Section 31 — Conversion of a Local Authority Company to a Private Company
Chapter: 3 — Formation and Registration of Companies
(a) A local authority company may be converted and registered as a private company if any share in its capital is transferred to a person other than the local authority council in a manner permitted by law and the transfer is registered under section 163 of this Act. (b) Where shares of a local…
Text status: Unofficial English translation.
Section 32 — Effect of Conversion of Company Type
Chapter: 3 — Formation and Registration of Companies
The conversion of a company from one type to another in accordance with sections 26 to 31 of this Act does not affect any rights or obligations of the company, any transaction entered into by the company or any legal proceedings by or against the company. RE-REGISTRATION OF FOREIGN COMPANIES
Text status: Unofficial English translation.
Section 33 — Mandatory Re-registration of Foreign Companies
Chapter: 3 — Formation and Registration of Companies
(a) A foreign company shall not conduct any activity in the Maldives unless it is registered in accordance with this section. (b) Except for a foreign investment company registered under section 8 of this Act, a foreign company intending to operate in the Maldives must obtain authorisation as…
Text status: Unofficial English translation.
Section 34 — Application for Re-registration of Foreign Companies
Chapter: 3 — Formation and Registration of Companies
(a) An application for the re-registration of a foreign company under this Act must be accompanied by the following— (1) the authorisation obtained under the Foreign Investment Act of the Maldives for the sector or business activity that the company intends to conduct in the Maldives; (2) the…
Text status: Unofficial English translation.
Section 35 — Requirement for an Agent of the Foreign Company
Chapter: 3 — Formation and Registration of Companies
(a) Every foreign company re-registered in the Maldives under section 34 of this Act must appoint a person to act as its agent in relation to its activities in the Maldives. (b) A person appointed as an agent under subsection (a) must— (1) be an individual who has attained 18 years of age; (2)…
Text status: Unofficial English translation.
Section 36 — Submission of Information to the Registrar
Chapter: 3 — Formation and Registration of Companies
(a) Where any change occurs in the information relating to the company specified in section 34(a) of this Act, the change must be notified to the Registrar within 30 days of its occurrence, in the manner prescribed by regulations made under this Act. (b) Where any change occurs in relation to the…
Text status: Unofficial English translation.
Section 37 — Cancellation of Re-registration
Chapter: 3 — Formation and Registration of Companies
(a) A foreign company re-registered in the Maldives must apply to the Registrar for cancellation of its re-registration where— (1) the company ceases its business operations in the Maldives; (2) the foreign investment authorisation issued to the company is revoked or expires; or (3) the company…
Text status: Unofficial English translation.
This page is a general research and practice aid. The translations used in this manual are unofficial. Verify the official Dhivehi legislation, amendments and current procedures before relying on any entry. Read our sources and verification guidance and contact a lawyer at Sulthan & Amhar for advice on your circumstances before relying on this material or taking action.