Govt seeks reports on foreigners illegally operating businesses
The ministry said the operation of such businesses by foreign nationals breaches compliance rules and impacts market access allocated for Maldivians.
The Ministry of Economic Affairs on Thursday issued a public call for reports on cases involving foreign nationals operating businesses that are prohibited under Maldivian law.
In a statement released, the ministry said it had observed foreigners engaging in restricted commercial activity through two primary methods: running businesses under the guise of being locally owned, and operating in sectors that are not permitted for foreign investors under the Foreign Investment Act.
The ministry has requested the public to submit information through its official channels. Reports can be filed on the Ministry of Economic Affairs website. The ministry’s hotline, 3333199, is open daily from 0800 to 2000 hrs to receive calls. Cases can also be reported through the Immigration Watch platform.
Under the Foreign Investment Act, several business sectors are reserved for Maldivian nationals and are closed to foreign participation, particularly for projects below specific investment thresholds.
The prohibited sectors include:
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Building services and landscaping
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Support activities for offices and businesses
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Building construction for projects under USD 15 million
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Resort development for projects under USD 10 million
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Tuition and Quran classes
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Clinic operations excluding physiotherapy
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Cargo, logistics, and postal services
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Souvenir and handicraft production
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Banking services
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Media operations
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Advertising and event management
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Legal services
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Market research activities
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Electronic repair works
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Retail and wholesale trade, including construction materials
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Wholesale supply of construction materials
The ministry said the operation of such businesses by foreign nationals breaches compliance rules and impacts market access allocated for Maldivians.
