The different between a branch office and a representative office is that the former is allowed to invoice and required to fill annual tax returns annually.
Myanmar (erstwhile Burma) is a Southeast Asian country surrounded by India, China and Bangladesh respectively on 3 sides. It is a member of the Association of Southeast Asian Nations (ASEAN) since 1997. Myanmar has significant natural resources and a young and mainly literate workforce. Of late, the country has been overhauling its legal framework and implementing business-favourable laws and regulations, which are required to attract foreign investment in Myanmar. In 2012, the old Foreign Investment Law (FIL) of 1988 was replaced with a new one. This has led to improvement in certain tax incentives and long-term land lease options.
A company in Myanmar can be formed as one of the following legal entities.
Myanmar is an up-and-coming developing nation. It provides the following advantages from the standpoint of company setup:
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