A bonded warehouse may be registered to keep any goods that are permitted to be imported to or exported from Maldives.
Bonded warehouses registered under Customs are categorized as follows;
· Duty free Bonded warehouse that are specifically registered to keep goods for their duty free shops by the operators.
· Commercial bonded warehouses that are specifically registered for goods imported to Maldives.
· Export bonded warehouses that are specifically registered for goods exported from Maldives.
· Bonded warehouse for commercial purpose for liquor, pork and pork products shall be registered in special areas permitted by the government to keep such goods.
All documents for the goods imported to store in the bonded warehouse should be consigned under the name of bonded warehouse.
The goods are entered into the bonded warehouse in the presence of a Customs Officer and a bond keeper after checking and verifying the goods against the declaration.
The goods entered into the bonded warehouse will be written in the bin card and the bonded warehouse operator should update and maintain the stock.
The following documents must be submitted to the Customs for entry of goods into the bonded warehouse.
· Goods declaration;
· Price approved commercial invoice of the goods;
· Bill of lading or Airway bill of the goods;
· Packing list of the goods;
· Delivery order of the goods;
Noticing Discrepancies of Goods to Be Entered into BW
The bonded warehouse operator will not be liable to pay duty for such goods if the operator of bonded warehouse submits a document to Customs from the Port Operator, stating that the goods brought from the various ports to enter into the bonded warehouse are broken, damaged, or bottles or cans are leaked, or shortfall of items are identified against documents while the goods were in the port or under the custody of port operator. If this document is not submitted, then the bonded warehouse operator should pay import duty for those items.
If goods entered into the bonded warehouse has undeclared goods, the party shall be liable a fined in accordance to part 19 of Customs regulation (2011/R41).
Importing Goods Form Bonded Warehouse
The following documents shall be submitted to Customs for importation of goods from a bonded warehouse.
· Goods Declaration stipulated in schedule 6 (six) of this Regulation;
· Import License;
· Invoice in C.I.F term;
· License issued by Ministry of Economic Development for sale and import of alcohol, pork and pork products, if the goods to be imported are such goods.
Since same principles shall be applied to the release of goods to tourist craft, goods which are in the bonded warehouse will be released to them after submitting same documents mentioned above.
Releasing Goods from The BW.
Goods in the bonded warehouse shall be released for the following purposes.
· To import into the Maldives;
· To export or re-export from the Maldives;
· To return back to the exporter of the goods;
· To transfer goods to the duty free shops;
· To deliver goods to the crafts in the form of ship’s stores;
· Transfer from one bonded warehouse to another bonded warehouse;
· To dispose goods due to being expired or damaged.
Liquor, pork and pork products in the bonded warehouse shall be released to diplomatic permit holders if they submitted such license to Customs after obtaining a license under their name from Ministry of Economic Development.
The goods shall be released from bonded warehouse in the presence of a Customs officer and a bond keeper after checking and verifying the goods against the declaration.
Goods released from bonded warehouse shall be written in the bin card and the bonded warehouse operator shall update and maintain the stock.
The importers must inform Customs via Customs portal upon receiving goods after they are released from bonded warehouse according to article 264 of Customs regulation (2011/R41).
Exporting or Re-Exporting of Goods
The following documents must be submitted to Customs for exporting or re-exporting of goods from bonded warehouse.
· Goods Declaration stipulated in schedule 6 of this Regulation.
· Export License
· Invoice in FOB term
· License for exporting goods from bonded warehouse issued by Ministry of Economic Development.
Goods which are stored in the bonded warehouse should be re-exported to the exporter after obtaining Customs approval by applying in writing with the reason for re-export.
Releasing Ship’s Stores from BW
The following documents must be submitted to Customs for the release of goods from bonded warehouse in the form of ship’s store goods to international sailing vessels.
· Goods declaration.
· Invoice in CIF term (with freight and insurance breakdown)
· If liquor, pork and pork products, license for sale and importation of such products issued by Ministry of Economic Development.
Disposal of Damaged or Expired Goods
The operator of the bonded warehouses is responsible for all the costs incurred in disposing goods which are kept in the bonded warehouse except the disposal of the goods that are in contravene to the Customs law and regulation.
The following documents must be furnished to Customs to dispose the expired or damaged goods in the bonded warehouse. And the goods will be disposed after the duty is paid.
· Goods declaration
· Invoice of the goods or a document stating the details of the expired or damaged goods with its price;