Company annual fee deadline is 31 March

MIRA advises to make the company annual fee payment that has to be paid under the Act No. 10/96 (Companies Act of Maldives), by 31 March 2017.Private companies are required to pay MVR 2,000 as the annual fee while public companies are required to pay MVR 10,000. After the deadline of 31 March 2017, annual fee would be collected with a fine of MVR 1,000 if paid within the month of April or with a fine of MVR 2,500 if paid after the month of April.

As no company is exempt from paying the annual fee, all companies, whether active or inactive, are required to make the annual fee payment by the deadline. However, a company would not be required to pay the annual fee for the year 2017 if all the paperwork for company liquidation is submitted to and approved by the Registrar of Companies before 31 March 2017.

MIRA will be taking action against companies defaulting on the fee payment under the Enforcement policies of this authority, such as suspension of government services to that company. 

12 Mar 17