Maldives Thirdway Democrats (MTD) has collected 3,333 signatures and applied for registration as a political party with the Elections Commission (EC).
Political parties require minimum 3,000 members to register in Maldives.
MTD says the party submitted forms of 3,333 members this Tuesday morning.
Spokesperson and member of EC, Ahmed Akram has confirmed the commission has received the form.
The permit to form MTD was granted to Ismail Asif, President of Maldivian National Chamber of Commerce and Industries (MNCCI), on November 29.
A number of high-profile politicians have now joined the party, including former Vice President Ahmed Adeeb Abdul Gafoor and Velidhoo MP Abdulla Yameen.
Another new political party which received its permit this year, Maldives Labor and Social Democratic Party (MLSDP) has also submitted signatures of the 3,000 members it needs to register.
Political parties in Maldives first need to obtain permit from EC, submit membership forms of minimum 3,000 members, hold a general assembly to pass its bylaws, and then re-apply to EC.
Only political parties with memberships of over 10,000 will receive the annual government payment to political parties.
There are current six registered political parties in Maldives. They are: