In short
Foreign investment registration in the Maldives is the approval process every foreign investor must complete before setting up a business. Under the Foreign Investments Act, in force since December 2024, it runs from application to investment licence. DBS Maldives prepares the application, registers the company and follows each stage through.
What is foreign investment registration in the Maldives?
Foreign investment registration is the government approval a foreign individual or company needs before investing in a business in the Maldives. Under the Foreign Investments Act, which came into force in December 2024, every foreign investment needs approval, whatever its nature or size, and an investment licence must be in place before the investment is established.
The Ministry of Economic Development and Trade runs the approval process, and Invest Maldives is the government agency that promotes and facilitates investment. Foreign individuals cannot trade through a sole proprietorship; the business is set up as a company or a partnership once the investment is approved.
How does the foreign investment approval process work?
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Application
The investor applies to the Ministry with the investment proposal and supporting documents.
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No Objection Letter
If the Ministry has no objection, it issues an initial No Objection Letter so the next steps can begin.
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Register the legal entity
The company or other legal entity that will hold the investment is registered with the Registrar.
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Investment licence
The Ministry issues the foreign investment licence for the registered entity.
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Foreign Investment Agreement
The entity signs a Foreign Investment Agreement with the Ministry, setting out the terms of the investment.
How DBS Maldives helps foreign investors
- We review your plans against the current foreign investment policies, including whether the activity is open to foreign investment and what capital is expected for it.
- We prepare the application and the supporting business plan, so the proposal is clear and complete.
- We register the company once the No Objection Letter is issued, through our company registration service.
- We register the activities the business will carry out with business activity registration, and check the further permits they need.
- We follow the licence and agreement stages through with the Ministry and keep you updated.
- Once you are set up, we can help with GST registration, hiring and work permits for your team.
What do I need to apply for foreign investment approval?
- Identity documents for each foreign investor, as we confirm for your case
- Company documents if the investor is a company, such as its registration and ownership details
- A description of the business and the activities it will carry out in the Maldives
- A business plan with the proposed investment and financial projections
- Details of any local partners or shareholders
- The proposed company name, with alternatives
- Any further documents the current application form asks for, which we confirm before you apply
Common mistakes to avoid
- Starting operations before the licence. The licence must be in place before the investment is established. Leases, hiring and imports should be planned around it.
- Relying on guidance written before December 2024. The Foreign Investments Act changed the process. Older checklists may describe steps that no longer apply.
- Assuming every activity is open to foreign investment. Check the current policies for your activity before committing money.
- A thin business plan. The proposal should explain the investment, the activity and the numbers clearly, as it shapes the whole process.
Planning an investment in the Maldives? Send us an enquiry and we will set out the steps for your project.
Frequently asked questions
Can a foreigner start a business in the Maldives?
Yes, with approval. Under the Foreign Investments Act every foreign investment must be approved and licensed before it is established. Foreign individuals cannot use a sole proprietorship, so the business is set up as a company or partnership once the investment is approved.
What is a No Objection Letter for foreign investment?
It is the initial letter the Ministry of Economic Development and Trade issues after reviewing a foreign investment application. It allows the investor to move on to registering the legal entity, before the investment licence is issued and the Foreign Investment Agreement is signed.
When did the Foreign Investments Act come into force?
The new Foreign Investments Act came into force in December 2024. It requires approval for all foreign investments regardless of their nature or type, and an investment licence before the investment is established. Guidance written before then may no longer be accurate.
How much capital does a foreign investor need in the Maldives?
Capital requirements depend on the nature of the investment and are set in the government's foreign investment policies, which can change. We check the current requirement for your activity before you apply, rather than quoting a figure that may be out of date.
Who approves foreign investment in the Maldives?
The Ministry of Economic Development and Trade runs the approval process, from the application and No Objection Letter to the investment licence and the Foreign Investment Agreement. Invest Maldives is the government agency for investment promotion and facilitation.
Last reviewed 6 October 2026. Requirements change; we confirm the current rules with you before any application.