Establishing a business in Myanmar
Charltons advises clients on setting up a business in Myanmar including the setting up a business partnership, setting up a limited company, sole proprietorships, proprietorships joint ventures, branch companies and wholly foreign-owned subsidiaries.
The Myanmar Companies Act 1914 (as amended) together with the revised Foreign Investment Law (FIL) and its associated implementing rules (Investment Rules) are the three key pieces of legislation governing the setting up of businesses in Myanmar.
Setting up a business in Myanmar | Permits to trade
Pursuant to the Myanmar Companies Act when setting up a business in Myanmar a foreign company is required to obtain a Permit to Trade (Permit to Trade). A Permit to Trade applied for via the Companies Registration Office and are generally renewable every five years. Myanmar Investment Commission (MIC) approval is required by companies incorporating under the FIL. Permits to Trade are awarded to two categories of companies, service companies and manufacturing companies.
Working in cooperation with local counsel Charltons also advises foreign companies on their annual filing obligations, negotiating commercial leases and the maintenance of a registered office in Myanmar as well as assisting foreign entrants in Myanmar submit investment proposals, liaise with the Directorate of Investment and Company Administration, and apply for a Permit to Trade and MIC approval.
For additional information please see Charltons’ presentation “An Introduction to Doing Business in Myanmar“.