Navigate Maldivian trade regulations with confidence. Our comprehensive compliance guide ensures your business meets all legal requirements and avoids costly penalties in the Maldivian market.
Essential compliance requirements for successful trade operations with the Maldives
Ensure all customs declarations are accurate, complete, and submitted within required timeframes.
Proper classification of goods using correct Harmonized System codes for accurate duty calculation.
Apply correct valuation methods as per WTO guidelines for customs duty assessment.
Determine and declare correct country of origin for preferential duty treatment.
Maintain comprehensive records of all transactions for audit and compliance purposes.
Ensure all duties, taxes, and fees are paid within prescribed time limits to avoid penalties.
Obtain necessary licenses and permits for restricted or controlled goods before trading.
Comply with environmental regulations and obtain required environmental clearances.
Meet health and safety standards for products, especially food, pharmaceuticals, and chemicals.
Ensure products meet technical standards and quality requirements of destination markets.
Comply with labeling, marking, and packaging requirements of importing countries.
Understand and avoid trading in prohibited or restricted items in target markets.
Comply with foreign exchange regulations and reporting requirements for international transactions.
Implement AML procedures and know your customer (KYC) requirements for all transactions.
Ensure proper tax compliance including GST, income tax, and transfer pricing regulations.
Maintain arm's length pricing for related party transactions and proper documentation.
Comply with banking regulations for trade finance, letters of credit, and payment terms.
Prepare for and cooperate with customs audits and financial compliance reviews.
Essential checklist to ensure compliance and understand potential penalties for non-compliance
Confirm correct HS codes and product descriptions
Ensure all necessary licenses and permits are obtained
Study importing country's specific requirements
Gather all required certificates and documents
Ensure FEMA and banking regulation compliance
Establish systems for maintaining compliance records
Heavy fines ranging from 25% to 300% of duty value for customs violations
Temporary or permanent suspension of import/export licenses
Confiscation of goods for serious compliance violations
Criminal prosecution for willful violations and fraud
Significant delays, demurrage charges, and additional inspection costs
Regularly update knowledge of changing regulations and trade policies.
Work with experienced trade compliance professionals and legal advisors.
Implement automated compliance management systems to reduce errors.
Conduct internal compliance audits to identify and fix issues proactively.
Partner with Hali EXIMS for comprehensive compliance management. Our experts ensure your business meets all regulatory requirements while minimizing risks and maximizing opportunities.
Comprehensive review of your current compliance status and recommendations.
Stay informed with latest regulatory changes and compliance requirements.
24/7 support from our compliance specialists and legal experts.
With 15+ years of experience and a 100% compliance track record, Hali EXIMS guarantees that your international trade operations will meet all regulatory requirements. We take full responsibility for compliance management, so you can focus on growing your business.