Econ. Ministry implements amendment to ease business

Photo shows the inside of a shop in Male' city. Economic Ministry implemented an amendment that is expected to ease business in the country on January 6, 2020. (Sun Photo/Fayaz Moosa)

Economic Ministry has announced that it will be implementing the amendment to the Business Registration Act which will ease registration processes and start-up operations of businesses in the country.

The Ministry announced that from yesterday onwards, the Ministry has stopped issuing permits for import businesses, smalls café’ (hotels), restaurants. The Ministry also stopped collecting the monthly fees for such businesses.

This move by the Ministry means that such businesses can now be run as a sole proprietorship, company, partnership or as a corporative society without any prior permits from the Economic Ministry.