What are the requirements for company registration in Myanmar?
Myanmar's new company law was newly enacted in August 2018, which mainly applies to foreign companies investing or joint ventures in Myanmar set up by the company is divided into, foreign companies, joint ventures, offices above three forms of companies, foreign companies for the most simple and easy. All three forms of companies have the option of registering under the Myanmar Companies Act or the Union of Myanmar Foreign Investment Act.
Foreign Investment Company (100% Foreign Investment Company)
Foreign investors are more independent and flexible in their investment, and need to establish a limited liability company which is fully owned and controlled by foreign investors. Foreign investment companies have a lower threshold in the service industry such as hotels, restaurants, consultants, installations and so on, and if the threshold is higher in other industries such as import/export, trade, and production, the government has lowered the threshold to attract foreign investment, only 1,000,000 dollars is required for registration. Attract foreign capital, only 1 legal person, 1 passport can register a company. The company's registered capital does not have to be paid up.
One, the registered name of the registered Myanmar company:
After the investor draws up the name of the company, the service company is entrusted to apply for the approval of the name of the company to the government's DICA registration authority. (Can be registered in English and Burmese) If the same name already exists, it must be changed until the computer determines that it has not been registered before it is approved. To register a Myanmar company, you need to provide the company name in both English and Burmese and the name should end with Ltd or Company Limited.
Registration documents for registering a Myanmar company:
II. Company name to be chosen (in English)
Individuals: copies of shareholders/directors' identity documents (e.g. passports, identity cards), directors' e-mails, proof of address;
Companies: full set of documents of company registration, directors' passports, company resolutions.
Note: All the above documents need to be translated into Burmese.
Three, the registration of Myanmar company registration process:
Name verification (1-2 working days) --- Provide the required information --- Sign the POA --- Apply for a business license (about 1 week) --- Open the official account (the need to appoint a director needs to be present; it is recommended to open an account in the local bank in Myanmar, three working days) --- Register shareholders, directors --- In the location of the district committee for approval (for production) Approval of the district committee (for production-oriented enterprises)
The whole process takes about 10-20 working days
Myanmar is a friendly neighbor of China, and the economic and trade relations between the two countries are relatively close. It is in China's interest to maintain a certain scale of investment in Myanmar. This is not only in the strategic, but also in the economy will bring certain benefits to our country.
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