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Company Registration in Myanmar
Myanmar ranks amongst the top Asian countries and is an economic powerhouse. Its GDP figure is touching newer heights every passing year. The population rate and diverse culture make this nation suitable for various business endeavors. The government supports foreign investments and provides easy entry to entrepreneurs globally via seamless incorporation and minimal legalities.
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Conditions for Setting up a Company in Myanmar
Directors:
- A private limited foreign company should be helmed by at least two directors. There are no restrictions on their nationality.
- Number of shareholders that the company can accommodate is 50.
Authorized and Paid-Up Capital:
- No cap on the what should be the minimum capital requirement
- Capital should be deposited in a designated account prior incorporation
Registered Office Address:
- There must be a registered place to execute business chores
- Tax holidays and customs duty exemptions are available to foreign companies operating in Special Economic Zones.
Documents Required for Company Establishment:
- Address in Myanmar.
- Annual services and investment plans.
- Recruitment and production plans.
- Financial documents of the company.
- Land rights authorization.
- Constitution of the company (incorproation certificates).
- Details of directors and shareholders.
- Percentage of shareholding for each shareholder.
- Minimum paid-up capital.
- Evidence of land ownership/lease agreement.
- Declaration of compliance with the Companies Act.
- Primary business activities.
- Company name clearance.
Approach Adviso for company establishment in Myanmar
Adviso is a leading service provider in the global incorporation realm. We have a team of professionals who profoundly understand the legalities around company formation. Here is the process we follow to help our clients with company incorporation.
Step 1: Arrange paperwork
Paperwork is the core of any registration process. Inaccurate or incomplete document will lead to application rejection, which in turn cost your time and money. That’s why we help clients arrange dossiers as per their business structures and applicable compliance.
Step 2: Name Reservation
First, our experts help you select an apt business name that resonates with your goals and requirements. Once done, we approach the DICA to submit the name check form. The authority shall reject the name that is seemingly offensive or legally unfit.
Step 3: Securing MIC and DICA License
This step requires the drafting and submission of the project proposal concerning the foreign investment permit. After this, we will secure approval from the DICA.
Frequently Asked Questions
A. Myanmar is an economic powerhouse with impressive GDP figures and a diverse culture. The government’s support for foreign investments paves the foundation for sustainable growth.
A. A private limited foreign company must have a minimum of two directors. It can accommodate up to 50 shareholders.
A. There is no cap on the minimum capital requirement.
A. Operating in Special Economic Zones grants foreign companies tax holidays and customs duty exemptions.
A. Documents include details of directors and shareholders, financial records, land rights authorization, and compliance declarations with the Companies Act.
