Business Name, Business Activity & SME Classification

Business Name, Business Activity & SME Classification

Responsible Entity: Ministry of Economic Development and Trade

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Guide to Register Business Name

Description

This service can be used by registered businesses to register a Business Name.

Before you start

Please ensure that the following service(s) are completed before proceeding with your application.

  • Name Reservation

Eligibility

  • The applicant should be a registered business entity in the Ministry of Economic Development as per Business Registration Act (18/2014).

  • An authorized person appointed to use the portal on behalf of the entity can submit the application.

     

How to apply

  • You can apply using an Efaas account.

  • Logging into your own account will direct you to the oneGov homepage.

After you apply

  • After successful submission a notification will be sent to your email and phone.

  • You can check the status of the request from the history tab. 

  • Once the application is approved the status will change to “Approved”.  You may now proceed to make the payment.

  • Should the status of your application be changed to “Incomplete”, you will receive a notification along with the remarks via email and phone.

  • Once the application is approved and the related payments have been cleared, the status of the application will change to “Processed” and information of the Business Name will be available on the Corporate Profile Sheet.

Service fee

  • MVR 100 for each Business Name registration for the entirety of the entity’s registration.

Payment notification

  • Once your application has been approved, you will receive a notification via email and SMS to make the payment for the service.

  • You will be directed to the payment gateway for online payment.

  • You will receive an SMS notification after your payment is processed.

Estimated time frame

  • All duly completed applications will be processed within the same business day.

Guide to Cancel Business Name

Description

This service can be used by registered businesses to cancel a Business Name.

Before you start

Please ensure that the following service(s) are completed before proceeding with your application.

  • Name Reservation.

Eligibility

  • The applicant should be a registered business entity in the Ministry of Economic Development as per Business Registration Act (18/2014).

  • An authorized person appointed to use the portal on behalf of the entity can submit the application. 

How to apply

  • You can apply using an Efaas account.

  • Logging into your own account will direct you to the oneGov homepage.

After you apply

  • After successful submission a notification will be sent to your email and phone.

  • You can check the status of the request from the history tab. 

  • Once the application is approved the status will change to “Approved”.  You may now proceed to make the payment.

  • Should the status of your application be changed to “Incomplete”, you will receive a notification along with the remarks via email and phone.

  • Once the application is approved and the related payments have been cleared, the status of the application will change to “Processed” and information of the Business Name will be available on the Corporate Profile Sheet.

Estimated time frame

  • All duly completed applications will be processed within the same business day.

Guide to Register Business Activity

Description

This service can be used by registered businesses to register a business activity.  If you are not required to obtain a permit / license from a line Ministry or other government agency, you are required to register a business activity prior to starting your business operations. 

Eligibility

  • The applicant should be a registered business entity in the Ministry of Economic Development as per Business Registration Act (18/2014).

  • An authorized person appointed to use the portal on behalf of the entity can submit the application. 

How to apply

  • You can apply using an Efaas account.

  • Logging into your own account will direct you to the oneGov homepage.

After you apply

  • After successful submission a notification will be sent to your email and phone.

  • You can check the status of the request from the history tab. 

  • Once the application is approved the status will change to “Approved”.  You may now proceed to make the payment.

  • Should the status of your application be changed to “Incomplete”, you will receive a notification along with the remarks via email and phone.

  • Once the application is approved and the related payments have been cleared, the status of the application will change to “Processed” and information of the business activity will be available on the Corporate Profile Sheet.

Service fee

  • MVR 50 for each activity registration 

Payment notification

  • Once your application has been approved, you will receive a notification via email and SMS to make the payment for the service.

  • You will be directed to the payment gateway for online payment.

  • You will receive an SMS notification after your payment is processed.

Estimated time frame

  • All duly completed applications will be processed within the same business day.

Guide to Cancel Business Activity

Description

This service can be used by registered businesses to cancel a registered business activity.  

Eligibility

  • The applicant should be a registered business entity in the Ministry of Economic Development as per Business Registration Act (18/2014).

  • An authorized person appointed to use the portal on behalf of the entity can submit the application. 

How to apply

  • You can apply using an Efaas account.

  • Logging into your own account and clicking the 'Start Now' will direct you forward.

After you apply

  • After successful submission a notification will be sent to your email and phone.

  • You can check the status of the request from the history tab. 

  • Once the application is approved the status will change to “Approved”.  You may now proceed to make the payment.

  • Should the status of your application be changed to “Incomplete”, you will receive a notification along with the remarks via email and phone.

  • Once the application is approved and the related payments have been cleared, the status of the application will change to “Processed” and information of the business activity will be available on the Corporate Profile Sheet.

Estimated time frame

  • All duly completed applications will be processed within the same business day.

Guide to Register SME Classification

Description

This service can be used by registered businesses to register as a micro, small or medium enterprise with the Ministry of Economic Development.  

Eligibility

  • The applicant should be a registered business entity in the Ministry of Economic Development as per Business Registration Act (18/2014).

  • An authorized person appointed to use the portal on behalf of the entity can submit the application.  

How to apply

  • You can apply using an Efaas account.

  • Logging into your own account will direct you to the oneGov homepage.

After you apply

  • After successful submission a notification will be sent to your email and phone.

  • You can check the status of the request from the history tab. 

  • Once the application is approved the status will change to “Approved”.

  • Should the status of your application be changed to “Incomplete”, you will receive a notification along with the remarks via email and phone.

  • Once the application is processed the status of the application will change to “Processed” and information of the SME classification will be available on the Corporate Profile Sheet.

Estimated time frame

  • Applications will be processed in real time.

FAQs

How do I get assistance with the portal?

If you have any questions or need assistance, email us at [email protected]. You may also call our helpline 1500.

Do I have to renew the Business Name?

No. The business name remains valid until the registered business entity is dissolved. If you intend to cancel the name, you are required to follow the business name cancellation process.

What if I want to use a different name for a business activity than my entity’s name?

You must register a business name under the respective entity first in this instance.

Can I have multiple business activities registered to one business name or one entity?

Yes you can have multiple business activities registered to one business name or entity.

Am I required to renew business activities?

Yes. You are required to update the status of your business activities on an annual basis.

Can a SME Classification be re-classified during a calendar year?

Yes, the SME Classification can be re-classified during a calendar year, if the net profit, total revenue, and number of employees can be validated through the businesses’ applicable filings.

Need more help?

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