If you are looking for a full range of Banking Solutions, our Business Current Account is the right solution for you. Designed to be customizable for your business banking requirements, we offer an array of payment services and platforms for our business customers to bank conveniently and facilitate seamless local and international transactions.
Who can Open Business Accounts with BML?
Any business entity registered in the Maldives can open an account with BML including sole proprietors, partnerships, companies as well as foreign investment companies.
Who should be physically present to open the account?
Any official representative of the company will be able to submit an account opening request to the Bank. However, all proposed signatories of the account shall be present to provide specimen signatures, on the appointment date/time confirmed by the Bank. Signatories for companies will be established with a duly passed board resolution.
Step 1
Complete application forms and the required checklist of documents.
Step 2
Once all documentation is complete as per provided checklists, you can proceed to book an appointment from the appointment portal. The appointment portal will be open for requests on bank from Saturday to Wednesday and limited appointments will be confirmed on a first-come-first-serve basis.
All signatories shall be present at a convenient branch or Service Centre to provide specimen ink signatures.
Step 3
If all documents are in order the account will be activated in 5 working days
*based on the findings of submitted documents, if enhanced due diligence need to be conducted, an additional 5 working days may be required.
List of documents you need for your account opening appointment:
NOTE:
List of documents required for your account opening appointment:
Note: please be informed the exercise for Ultimate Beneficial Owner (UBO) identification (up to the natural persons) is mandated by Banking Laws and Regulations in the Maldives and International Banking best practices.
Transaction limit
On the Nominee form, please indicate a transaction limit which is appropriate for your business based on the table below. All limits are set in MVR and transactions in other currencies will be subject to equivalent MVR limits. When assigning a transaction limit for your business, we will consider your account turnover and details submitted in the Business Information Form.
| Level 1 | Level 2 | Level 3 | Level 4 | Level 5 | Level 6 | Level 7 | Level 8 | Level 9 |
| 10,000 | 50,000 | 100,000 | 150,000 | 200,000 | 500,000 | 700,000 | 1,000,000 |
Please also note:
List of documents you need for your account opening appointment:
Other businesses can submit Management accounts
Transaction limit
On the Nominee form, please indicate a transaction limit which is appropriate for your business based on the table below. All limits are set in MVR and transactions in other currencies will be subject to equivalent MVR limits. When assigning a transaction limit for your business, we will consider your account turnover and details submitted in the Business Information Form.
| Level 1 | Level 2 | Level 3 | Level 4 | Level 5 | Level 6 | Level 7 | Level 8 |
| 10,000 | 50,000 | 100,000 | 150,000 | 200,000 | 500,000 | 700,000 | 1,000,000 |
NOTE:
List of documents you need for your account opening appointment:
1. Address of the Head office (if company does not operate at its registered address in its country of incorporation)
2. List of Trading Names used overseas (if the company conducts business in a name other than its registered name anywhere in the world)
3. List of Countries and main office address where company conducts business (where applicable)
a. Registration Certificate
b. Shareholding confirmation issued by Registrar of Companies or a government body
Note: please be informed the exercise for Ultimate Beneficial Owner (UBO) identification (up to the natural persons) is mandated by Banking Laws and Regulations in the Maldives and International Banking best practices.
| Level 1 | Level 2 | Level 3 | Level 4 | Level 5 | Level 6 | Level 7 | Level 8 |
| 10,000 | 50,000 | 100,000 | 150,000 | 200,000 | 500,000 | 700,000 | 1,000,000 |
Please also note:
List of documents required for your account opening appointment:
Please be present at the scheduled time and do allow up to 1 hour for the appointment.
a. Registration Certificate
b. Shareholding confirmation issued by registrar of company or government body
Note: please be informed the exercise for Ultimate Beneficial Owner (UBO) identification (up to the natural persons) is mandated by Banking Laws and Regulations in the Maldives and International Banking best practices.
Transaction limit
On the Nominee form, please indicate a transaction limit which is appropriate for your business based on the table below. All limits are set in MVR and transactions in other currencies will be subject to equivalent MVR limits. When assigning a transaction limit for your business, we will consider your account turnover and details submitted in the Business Information Form.
| Level 1 | Level 2 | Level 3 | Level 4 | Level 5 | Level 6 | Level 7 | Level 8 |
| 10,000 | 50,000 | 100,000 | 150,000 | 200,000 | 500,000 | 700,000 | 1,000,000 |
NOTE:
List of documents you need for your account opening appointment:
Note: please be informed the exercise for Ultimate Beneficial Owner (UBO) identification (up to the natural persons) is mandated by Banking Laws and Regulations in the Maldives and International Banking best practices.
Transaction limit
On the Nominee form, please indicate a transaction limit which is appropriate for your business based on the table below. All limits are set in MVR and transactions in other currencies will be subject to equivalent MVR limits. When assigning a transaction limit for your business, we will consider your account turnover and details submitted in the Business Information Form.
| Level 1 | Level 2 | Level 3 | Level 4 | Level 5 | Level 6 | Level 7 | Level 8 |
| 10,000 | 50,000 | 100,000 | 150,000 | 200,000 | 500,000 | 700,000 | 1,000,000 |
Please also note:
| Account Opening Form - Business and Institutions | English / Dhivehi |
| Information Form - Business & Institutions | English |
| Sample Board Resolution - Opening a Business Account | English |
| Sample Board Resolution For Partnership | English |
| Sample Board Resolution For Associations | English |
| Account Opening T&C | English / Dhivehi |
| Checklist for account opening - Account Opening & Information Form - Business & Institutions | English |
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