Economic Ministry has stated that home-based businesses run by individuals for income are not required by law to be registered. This statement follows the public outrage that was resulted due to HPA’s statement regarding business registration of online food businesses based at home.
Recently, the Health Protection Agency (HPA) released an announcement, stating that complaints have raised regarding home-based food sellers and that actions will be taken against those who do not register their businesses.
However, the Ministry has confirmed yesterday that under the Business Registration Act, certain businesses carried out by individuals for income are exemplified from registration. Such businesses are run by an individual for the purpose of earning a living, without employing workers.
During the pandemic, several people have established their own online businesses as they are out of work and are finding ways to earn income.
Full details are available at the link below:
Source URL: Corporate Maldives