Businesses that sell fruits and vegetables will be fined with MVR 10,000 if being operated without registration.
According to the business registration law, all businesses involved in selling fruits or vegetables to consumers must be registered irrespective of location or whether operating online or even if selling such items at a specific location temporarily. The monitoring process will be carried out by the city council if a city while the island councils or any other party appointed by the ministry will monitor the businesses in atolls. Hence, if the business is not registered, a fine of MVR 10,000 will be charged while MVR 5,000 will be fined if all compulsory requirements are not met.
The registration of the entity can be submitted through the business portal of the Ministry of Economic Development. In addition, permits must be acquired by the businesses in order to employ expatriates. The new regulation will be effective from 2nd October 2020.
Full details are available at the link below:
Source URL: Corporate Maldives