Company Registration in Myanmar

Driven by recent reforms that have introduced a quasi-democratic government committed to economic growth and infrastructure development, Myanmar is now opening its economy. Positioned at a crucial political and economic crossroads, Myanmar is charting a path towards a more liberalized economy, inviting foreign entrepreneurs, investors, business leaders, and international organizations to proceed with company registration in Myanmar.

Eager to attract foreign direct investment, the government is crafting transparent and effective business laws that facilitate market entry for international players. This approach aims to accelerate economic growth, enhance infrastructure with advanced technologies, create employment opportunities, and expand Myanmar’s role in global trade and commerce.

To support this transformation, Myanmar has established a network of agencies, authorities, and committees focused on streamlining business incorporation, regulating international business operations, enforcing sound legal policies, issuing permits and licenses, and structuring foreign investments. Through these reforms, Myanmar aims to cultivate a vibrant, open economy ready to engage on the world stage.

Major Laws that Support Myanmar Company Registration

• Myanmar Company Laws
• Myanmar Investment Laws
• Myanmar Trademarks Laws
• Myanmar Special Economic Zone Laws
• Myanmar Taxation Laws
• Myanmar Labour Law

Government Bodies Pertaining to Business

• Directorate of Investment and Company Administration (DICA)
• Company Registration Office (CRO)
• Myanmar Investment Management Committee
• Ministry of Commerce
• Thilawa Special Economic Management Committee (TSMC)
• Kyaukphyu Special Economic Zone Management Committee (KSMC)

Why Register Company in Myanmar?

The following are the reasons for company registration in Myanmar:

• Myanmar is strategically located in Southeast Asia, connecting vibrant economies such as China, India, Bangladesh, and Thailand.
• Myanmar is abundant in terms of natural resources and has a significant amount of precious metals, stones, and gems.
• Myanmar has a network of massive markets that present entrepreneurs with the scope of tremendous growth.
• As a developing nation, Myanmar benefits from the Generalized System of Preferences (GSP) in trade with most developed countries, which allocates lower import duties and waives specific quotas.
• When a company decides to proceed with Myanmar company registration, they have the option to obtain 100% foreign ownership.
• Due to its robust sea and air network, Myanmar is well-connected to other Asian countries.

Types of Business Structure Available in Myanmar

The country has revamped its business laws after implementing the "Myanmar Company Laws", which gives a new framework for company registration in Myanmar along with shareholding. You can choose from the following business structures for your Myanmar company registration:

1. Public Limited Company (Limited Liability Company)
2. Private Limited Company (Limited Liability Company)

• Private Company Limited by Shares
• Private Company Limited by Guarantee

3. Branch Office
4. Representative Office
5. Joint Venture or Partnership
6. Business Association

Best Locations Register Company in Myanmar

Below is a list of locations you can consider before proceeding to register company in Myanmar

• Yangon
• Mandalay
• Naypyidaw
• Thilawa Special Economic Zone (SEZ)
• Bago

The Process to Register Company in Myanmar

To proceed with Myanmar company registration, a business must comply with the MFIL, which is the Myanmar Foreign Investment Law. The following are the steps for company registration in Myanmar under MFIL:

1. Apply for the Myanmar Investment Commission’s (MIC) permit

One needs to apply for a license from the MIC. During this initial period, qualifying companies are exempt from paying customs duty and enjoy a 3-year tax holiday (which is the period of construction or the first three years of business).

2. Apply for a permit to trade

Unless it is a joint venture with the government, a company must apply for a "Permit to Trade," which is issued by the Directorate of Investment and Company Registration (DICA). Upon receiving approval for the Permit to Trade application, the company must agree to the attached conditions, sign them, and return the documents to DICA.

3. Provide the Required Capital

Submit the minimum capital required for the respective type of company in two instalments: the first half before the issuance of the permit and the second half within twelve months of issuance. The initial capital should be remitted either to the Myanmar Investment and Commercial Bank or the Myanmar Foreign Trade Bank. The DICA issues the "Permit to Trade" after receiving credit advice from the bank.

4. Apply for Company Incorporation

Apply for company incorporation along with a copy of the ‘permit to trade’. The process for company registration in Myanmar can take four to six months.

Documents Required for MIC’s Permit

• Proposal to the Foreign Investment Commission in the prescribed format
• Draft contract(s)
• Draft Memorandum of Association (MOA) and Articles of Association (AOA)
• Feasibility study and profitability projection statement for the project period or first ten years, with a cash flow statement
• Land lease and property documents
• Bank reference to verify financial standing
• Annual financial reports for the last two years
• Performance Guarantee

Documents Required for Trade Permit

• A summary of intended business or economic activities
• Statement of the estimated expenditure during the first year of operation
• Bank references providing evidence of the financial standing of the subscribers to the Memorandum and Articles of Association
• Power of attorney in favour of the individual who signs the applications, in case they are not a subscriber to the proposed company’s Memorandum and Articles of Association or one of its proposed directors
• A Board of Directors’ resolution to company registration in Myanmar, in case any of the parties is a company
• Submit signed accounts of the parent company for the last two years (authenticated and legalised) if incorporating the proposed company as a subsidiary of an overseas company

Documents Required to Register Company in Myanmar

Submit the following documents to complete your Myanmar company registration:

• Each director’s particulars, including their address, occupation, and nationality
• Passport copies of the director(s)
• List of the shareholders and their shareholdings
• Each shareholder’s particulars, including their address, occupation, and nationality
• A list of people authorised to accept official notices

Why Choose BSW to Register Company in Myanmar?

At Business Setup Worldwide, we specialize in helping you with Myanmar company registration in a way that best suits your business needs. Contact us, and our Myanmar team will provide valuable insights into the country’s business ecosystem and guide you through all legal, financial, and accounting requirements according to the latest Myanmar laws. Connecting with us will give you solutions to all your queries regarding company registration in Myanmar, whether on the mainland or in a Special Economic Zone (SEZ), as well as advice on investing in Myanmar companies and meeting legal obligations. Let us be your trusted partner in establishing a successful business presence in Myanmar.