Maldives Culture of Business

By | July 24, 2022

Subchapters:

  • Introduction
  • Addressing
  • Business Meeting
  • Communication
  • Recommendations
  • Public Holidays

Introduction

The business language is English. Business cards are a must. Courtesy is highly valued in the Maldives and personal kindness can play a role in securing deals.

Addressing

Titles are very important and it is best to address partners directly using their professional title or Mr., Mrs. or Miss, followed by their last name.

Business meeting

Agreements must always be concluded in writing. Negotiations are often impulsive, the partner often demands an immediate meeting when showing interest in business. Maldivians prefer to deal with details through a personal meeting rather than correspondence. It is also important to take into account that it is a Muslim country, which plays a role when choosing a restaurant, dish or gift. Maldivians are very polite, they like to give and receive small gifts. A meeting usually starts with an informal conversation, and business negotiations are often time-consuming.

Communication

As in the whole of South Asia, the success of trading depends on the necessity of personal contact and the establishment of a network of contacts and acquaintances on the spot. Visit Animalerts for more information about Maldives culture and traditions.

Recommendation

The necessary information on access to the local market can be provided by the Honorary Consulate of the Czech Republic in Male. Further information can be requested from the association of local business chambers, Maldives National Chamber of Commerce and Industry.

Public Holidays

01.01. New Year

01.05. Labor Day

16.05. First day of Ramadan

15.06. Eid-ul Fithr (End of Ramadan)

26.07. Independence Day

21.08 Hajj Day

22.08 Eid-ul-Alhaa

11.09. Islamic New Year

03.11. Day of victory

09.11. Quamee Dhuvas

11.11. Republic Day

20.11. Mawlid al-Nabi

08.12. Acceptance of Islam Day

31.12. New Year’s Eve

Payment terms, payment ethics and resolution of commercial disputes

When closing a deal, it is recommended to negotiate payment in the form of a confirmed letter of credit. ZÚ has not recently been informed about a negative experience with a Maldivian company. The payment morale of local companies is generally considered to be relatively good according to the experience of foreign companies that do business with the country to a greater extent.

In general, we recommend looking for a local consultant or partner who is closer to local traders and familiar with customs and laws. Maldivian businessmen, like businessmen in India or Sri Lanka, rely on personal contact, so it is essential to make at least one trip to the area and meet a potential future partner in person. However, the whole process until the conclusion of the contract takes longer than what European traders are used to.

When planning a trip to the territory, it is important to take into account the large number of holidays and to pay attention to the customs of Islam during personal contact.

Working hours:

The official working week in the state sector is from Sunday to Thursday 7.30 – 14.30. For most of the private sector, working hours are 9:00 AM – 5:00 PM, with a half day on Saturdays. Weekends are set for Friday and Saturday.

Safety:

When staying in the Maldives, it is necessary to observe the basic hygiene rules for staying in tropical countries, including the relevant vaccinations, or use of antimalarials, caution when consuming food and drinks. In case of health problems, it is important to take into account the remoteness of some islands and at the same time the fact that there are only a few hospitals in the country, which are located in the capital of the country. Basic medical care is available in all major resorts. It is advisable to ask for recommendations in higher category hotels.

Employment of citizens from the Czech Republic

In matters of employment, the Maldives is governed by the Employment Act, and in the case of employment of foreigners, a government regulation applies, which directly determines the conditions according to which the employer must comply. The Ministry of Human Resources, Youth and Sports deals with issues of employment and the rights and obligations of workers. The full text of laws and regulations can be downloaded from the Ministry’s website. The same conditions apply to citizens of the Czech Republic as to other EU members.

Fairs and events

The Maldives organizes regular fairs focusing on the sectors that play the most important role in the country, which are tourism and fishing. Annual fairs include, for example, the Maldives International BOATSHOW, which is dedicated to boats for fishing and recreational purposes. Regionally important is the MHTE – Maldives Hotel & Trade Exhibition with a focus on tourism.

The newly added events in the trade fair calendar include India Education Expo, University Education Fair and Hotel Asia Exhibition & Culinary Challange.

Maldives Culture of Business