Why do I need to do this? Transfer of shares should be approved from MED.  
Where can I apply for the service? You may apply online or in person at
How long will the process take? 2 days
What are the fees and charges involved? None
Which documents do I need to submit?
Document Check for:
1 Application form (Original 2 application forms) •  All required fields filled correctly

•  All documents listed in the application form are submitted

•  Signature

2 Board Resolution for the transfer of shares •  Board Resolution stating the share transfer details.

•  Whether the quorum was met

•  Details of Board of Directors (name and signature)

•  Share amount

•  Company seal

3 Consent Letter by the Transferor •  Consent letter by the Transferor (company) if they have registered a share pledge or a share charge.
4 Identification of the Transferee •  Clear and complete NIC copy of the share transferee if the transferee is a Maldivian.

•  Clear and complete passport copy of the share transferee if the transferee is a Foreigner

•  Board Resolution of the company for acquiring the shares if the transferee is a company.

How do I apply for the service? Day 1:

1.   Lodge Application and documents at counter.

What would I receive at the end of the process? • Original of Share Transfer Form

 

Did you know: • A Company Board Resolution needs to be passed to transfer the shares.

• The signatures on the Board Resolution must match the signatures in the ministry records. If the signature mismatch is due to a change in company board members, the board members will be requested to come to the ministry and verify the signature.

References: • Companies Act of the Maldives

• Companies Regulation

 

 

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