MIC Investment Permit

Investing in Myanmar | MIC Investment Permit 

Foreign investors in Myanmar business opportunities, incorporating under the Foreign Investment Law (FIL), must obtain a permit from the Myanmar Investment Commission (MIC Investment Permit). To obtain an MIC Investment Permit, promoters must submit a proposal in the prescribed form to the MIC.

MIC Permit | Supporting Documentation

Applications should be accompanied by the following supporting documentation:-

MIC Investment Permit
  • Preceding year’s audited account of the promoter (or other documents in support of the investor’s financial credibility)
  • A letter of good standing from the investor’s bank
  • Detailed financial forecasts in relation to the proposed investment to include an estimated annual net profit, estimated annual foreign exchange earnings or savings as well as foreign exchange requirements for the operation, the proposed recoupment period; prospects of new employment; prospects of increased national income and details of local and foreign market conditions and distribution arrangements
  • Draft contracts to be entered into between the foreign investor and their local partner (or relevant government department as applicable)
  • Draft Memorandum and Articles of Association of the limited company or a joint-venture company as applicable
  • Lease Agreement for lease of land or building to be entered into by the investor as lessee

The MIC will issue an MIC Investment Permit if the proposal is approved. Applications for MIC Investment Permits take approximately 2 weeks to be processed presuming all documentation is in order. In addition to applying for an MIC Investment Permit as part of incorporation under the FIL, a foreign company doing business in Myanmar, whether 100% owned or a joint-venture together, is required to obtain a Permit to Trade before registration pursuant to section 27A of the Myanmar Companies Act. After being granted both the MIC Investment Permit and the Permit to Trade companies must register with the Company Registration Office. The CRO issues certificates of incorporation. In practice the three incorporation steps can be commenced concurrently. Companies engaged in foreign trade are required to register as an exporter/importer with the Ministry of Commerce.

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