national
or company will be communicated by the Maldivian Government within 10 working
days.
Those
selecting Option 2, where the
business in wholly owned by foreign firms will be communicated within 30
working days by.
Submissions
1. If any of the shareholders of the
investing company is an individual, a photocopy of the passport data page, and
the permanent address must be submitted.
2.
If any of
the shareholding of the investing company is a legal entity, other than a
public company, please submit the photocopy of the passport data page and the
permanent address of each of the shareholders of the legal entity.
3. Photocopy of passport of each of the shareholders
of the proposed investing company.
4.
A Bank
Reference or a Reference letter from a reputable bank must be submitted for
each of the shareholders of the proposed investing company.
5.
If the
investing entity is a company, a Resolution of the Board of Directors of the
Company, confirming their decision to invest in the proposed project is to be
applied.
6. Project feasibility report must be applied;
including the following documents:
•
Detailed
review of the main components and the activities of the proposed investment
project.
•
Project’s
financial statements including the Balance Sheet, Profit and Loss Account and
the Cash Flow Statements for the first 5 years of operations.
•
Feasibility
indicators, including NPV, IRR, Payback period.
•
The main
assumptions underlying the financial projections, including cost, revenue,
market and other non- financial
•
Assumptions,
if any
•
Phasing
plan of the investment along with the detailed phasing of the main capital/
infrastructure investments.
•
Financing
plan for the investment including details of debt & equity financing
•
HR Plan
including:
i)
Labour
requirement for commencing operations under the investment with the breakdown
of local and foreign labour
classified
by occupation and the details of wages and benefits accruing to labour;
ii)
Localization
plan; highlighting the training scheme for local labour and a replacement
schedule for foreign labour.
7.
Draft of
the Articles of Association and the Memorandum of Association of the entity
proposing to undertake the investment.
8. Letter of the Authority or Power
of Attorney for Contact Person (if applicable) must be submitted.
9. A copy of the signed Joint
Venture agreement between the JV partners of the proposed investment in the
Maldives.
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