how to check company registration in myanmar

A company with share contribution of the State shall be registered under the Special Company Act 1950 and the Myanmar Companies Act 1914. During that time, company registration and filing processes will be temporarily suspended. Myanmar Companies Online (MyCO) ... You understand that all submitted notices will be registered as prior notices of lease and the registration date of submitted notices will be set as the date and time of commencement of the registry. For the most, applicant has to go with checking of availability of name at DICA and obtain Joint Venture (JV) Company registration form and fill the documents duly signed by concerned person along with required documents and fees as per applicable law. Limited Liability Partnership Registration, Conversion of LLP into a Private Limited Company, Asset Reconstruction Company Registration, Investment Advisors registration with SEBI, Registrar and Share Transfer Agent Registration, TP Planning, Documentation and assistance in Compliances, Goods and service tax (GST) Advisory Service, Climate Change and Sustainability Services, Enterprise and Strategic Risk Management Services, Foreign Direct Investment under the Approval Route, EPC Projects, O&M Accounting & Administration, End to end followed with Government Authority. Easy Payment Options Available Company Registration in Myanmar ... check and 5,100 kyats for the company r egistration. Then obtain company registration FORM 2 from DICA or through the DICA website along with payment of stamp duty on OSS or Internal revenue Department. Secondly, obtain company registration form at DICA and Pay stamp duty at one-stop service (OSS) or internal revenue department. Other taxes include commercial and capital gains taxes. If your business does not have a significant capital investment, a potential impact on the environment and the local community, or fall under the restricted categories above, the general timeline for company incorporation is approximately two weeks. You must provide your proposed name of the company in English and optionally in Myanmar. Unlike in the past, this sovereign state is now gradually but firmly opening to foreign investment and trade. A new banking and finance law that lays the foundations for more efficient licensing of financial institutions has been ratified. It is principal legislation governing forms of business ownership and types of business permitted in Myanmar and the operation of Myanmar established companies. Conclusion The government of Myanmar has been making numerous efforts and strong plan to make doing business in Myanmar easier are more comfortable to obtain maximum investment and infrastructural growth. Several sectors, including land ownership, are closed to foreign investment, and state-owned enterprises significantly distort the economy. Myanmar offers two options to foreign investors who want to register a business entity in a nation blessed with rich natural resources and famed for its inexpensive skilled labour. No Spam. However, there are also certain business activities that foreign investors cannot undertake, such as: The List of Restricted Investment Activities regulates the allowed foreign ownership in such sectors. Private Company by Myanmar Ci… Burma's economy has undergone notable changes. Applicant has to submit a copy of national registration card. Otherwise, the usual timeline for your business to become operational is 3 – 6 months for the appropriate process approvals by the Myanmar Investment Commission (MIC). Economic sanctions have been eased or lifted, and the government has launched reforms to modernize the economic system. Also, note that PLCs are not required to list in Myanmar, but if you do want to be listed on the Yangon Stock Exchange, you need a minimum of US$500,000 capital. The department required application cover letter, declaration of registration (FORM 1), the situation of registered office, statement of company objectives, Directors details (FORM 26) and Memorandum of Association (MOA) & Article of Association (AOA). Then obtain company registration FORM 2 from DICA or through the DICA website along with payment of stamp duty on OSS or Internal revenue Department. Thirdly Submit completed and signed company registration forms at DICA and pay company registration fees at OSS. Previously, the entire process of company registration in Myanmar like a foreign entity was lengthy and cumbersome. 5. You can choose to register a private limited liability company (LLC) which can either be wholly foreign-owned or a local company. Myanmar Company Registration. The labor market lacks flexibility, and informal-sector employment is substantial. The judiciary is not independent, and judicial decisions are heavily influenced by the executive. June 7, 2013 by thiha. However, company may be registered in one of the following forms:- Established by DICA, MyCO acts as a public registry of all companies and entities registered under the Myanmar Companies Law (2017). Foreign companies can also open 100% foreign-owned representative offices in Myanmar with a minimum shareholder of 1 and an authorized company representative. After all, this, obtain temporary incorporation certificate and a temporary permit from DICA (if required), confirm registered office address within one month of registration, submit proof of minimum capital transfer and signed conditions letter to DICA. Last but not the least applicant can obtain company incorporation certificate from DICA after which applicant has to confirm the registered office address within one month of registration. Hence it is advisable for investment in Myanmar. DISCUSSION CAN BE CONDUCTED VIA ZOOM. DICA is in charge of company registrations for local and foreign businesses under the Myanmar Companies Law 2017. Finally, applicant receives notification from Ministry of Planning and Finance regarding incorporation which is also published in government gazette. It is principal legislation governing forms of business ownership and types of business permitted in Myanmar and the operation of Myanmar established companies. The benefits of starting a business in Myanmar. A 65%/35% JV company of this nature is considered to be a “local” Myanmar company under the new Myanmar Company Law. On simple stake to register branch, applicant has to follow the process start from application document from DICA or its website, submit complete and signed documents to DICA, pay stamp duty and registration fees at OSS, obtain temporary incorporation certificate and temporary permit from DICA (if desired), submit evidence of minimum share capital transfer and signed conditions letter to DICA (the requirement of capital is USD 50,000 for Service Companies and for other, the minimum capital requirement is USD 1,50,000) and on last step to be met applicant can obtain permanent incorporation certificate and permanent permit to trade from DICA. Myanmar is an economic gateway to a huge market in Southeast Asia. An exporter must also register with the Department of Trade, Ministry of Commerce. If one share is owned by a foreign partner, the company shall come under the definition of a foreign company, and shall apply and obtain a Permit before registration. Investment proposal applications, on … Myanmar Companies Online (MyCO) ... You understand that all submitted notices will be registered as prior notices of lease and the registration date of submitted notices will be set as the date and time of commencement of the registry. The budget process has become more open, but the government has not taken significant steps to curb rampant national and local corruption. We will process your trademark registration in Myanmar.The price includes our lawyer’s fees as well as all official fees for the registration and implementation of the trademark without opposition. Last but not the least applicant can obtain company incorporation certificate from DICA after which applicant has to confirm the registered office address within one month of registration. Business form like sole proprietorship and partnership enterprise not required to register under DICA. Then submit the completed and signed business commencement documents (and stock exchange approval) letter to DICA. However, its activities are limited to: It cannot operate in production or commercial related activities nor earn any income or issue any invoices. Investors can also establish a joint-stock company, also known as a public limited company (PLC). A branch office in Myanmar can carry out business activities and issue invoices. Submit complete and signed a form with required documents and pay registration fees at OSS. Despite being a country that is still developing, opportunities are still available for the entrepreneur that is seeking to do business in Myanmar with several international companies already setting up a base in the country. Please be informed that the term of Trademark registration in Myanmar is not fixed from registration date, like in most of the countries. The department required application cover letter, declaration of registration (FORM 1), the situation of registered office, statement of company objectives, Directors details (FORM 26) and Memorandum of Association (MOA) & Article of Association (AOA). Myanmar has eased restrictions on foreign investment significantly over the past years, making the market more accessible to foreign investors. If an … Business form like sole proprietorship and partnership enterprise not required to register under DICA. Registrations can be for up to three years, but the time must not exceed the company’s DICA registration to engage in international trade. The initial registration comes with a fee as well as a fee for the vehicle inspection. Company incorporation is under the jurisdiction of the Directorate of Investment and Company Administration (DICA), a secretariat of the Myanmar Investment Commission (MIC). For this kind of company, in addition to above applicant has to publish newspaper advertisement, prepare company prospectus and submit to the stock exchange for approval, open a bank account, prepare documents for an initial share issue. Yangon Postal Code 11071 E-mail : info@aimmyanmar.com Phone : +95 9 8983 82228 +95 9 8983 82229. There’s another alternative if you do not want to register a company in Myanmar or want to test the market first. 2021 ENTERSLICE FINTECH PRIVATE LIMITED . As a foreign investor, you have some options for setting up a company in Myanmar, and. For this kind of company, in addition to above applicant has to publish newspaper advertisement, prepare company prospectus and submit to the stock exchange for approval, open a bank account, prepare documents for an initial share issue. Company Registration with DICA. The 2 most common … Finally, then the company can obtain permanent incorporation certificate and permanent permit to trade from DICA       so that this sort of entity can do trade/business in Myanmar. Registration Procedure Companies are registered by the Directorate of Investment and Company Administration (DICA). Myanmar (also known as Burma), is an emerging economy. Hire people in Myanmar without setting up your own company, Import products to Myanmar without acquiring any import licenses, Thorough market research before making any investments. However, company may be registered in one of the following forms:-. The labor market lacks flexibility, and informal-sector employment is substantial. Company incorporation is under the jurisdiction of the Directorate of Investment and Company Administration (DICA), a secretariat of the Myanmar Investment Commission (MIC). After all this, applicant should get a recommendation letter from relevant ministry and organization, receive approval then onwards submit to executive committee meeting of the Ministry of National Planning and Economic Development and receive approval from Ministry of Executive Committee. Table of contents #1 Strategic location#2 Myanmar’s growing population is becoming more affluent#3 One of the fastest economic expansions in Asia#4 Competitive labor costs#5 Increasing exports#6 Incentives to increase foreign investment in Myanmar#7 New companies law to facilitate investment#8 Many foreign companies are investing in Myanmar successfullyHow to reduce investment risks in Myanmar?Ready to invest […]. Such a company could be a foreign company registered in Myanmar or by means of a branch office or representative office formed outside Myanmar. Several sectors, including land ownership, are closed to foreign investment, and state-owned enterprises significantly distort the economy. In this article, we will give you an overview of the types of legal entities available to you as well as walk you through the process of company registration in Myanmar. Here are the materials that you need to submit: All shareholders will also need to sign the incorporation application before a certified lawyer or accountant in Myanmar. If you use this search, you will be able to view if a company exist, and if so, what the Enterprise Name, Enterprise Number, Registration Date is and the status of the enterprise (if the enterprise is in business), as well as the Registered and Postal Address of the enterprise. Category Archives: Myanmar Company Registration. You can choose to register a private limited liability company (LLC) which can either be wholly foreign-owned or a local company. You can register your business with a virtual office or a physical office. Take note that an overseas corporation is not a limited liability entity. If you want to invest in industries that are subject to the government’s limitations on the percentage of foreign ownership, you can also set up a joint venture with a local partner. Business Form & Structure However, keep in mind that the parent company is fully liable for the branch’s actions. Directors details . Private Company By Myanmar Citizen Services delivered by 300+ Qualified CA and CS. If one share is owned by a foreign partner, the company shall come under the definition of a foreign company, and shall apply and obtain a Permit before registration. The government of Myanmar has been making numerous efforts and strong plan to make doing business in Myanmar easier are more comfortable to obtain maximum investment and infrastructural growth. Emerhub offers an outsourced operations model that enables you to do business without company incorporation. Arbitrary taxation policies and marginal enforcement of property rights have driven many enterprises into the informal sector. Such a company could be a foreign company registered in Myanmar or by means of a branch office or representative office formed outside Myanmar. After all compliance, the applicant can obtain business commencement certificate from DICA. Note that Myanmar considers companies with up to 35% of foreign ownership as local companies. The budget process has become more open, but the government has not taken significant steps to curb rampant national and local corruption. Now let's have a discussion on each one of above-listed company registration procedure step by step. Representative offices can engage in liaison or marketing activities on behalf of the head office. In this article, we will give you an overview of the types of legal entities available to you as well as walk you through the, manufacturing of products for security and defense, arms and ammunition. © 2011-2021 Emerhub Limited. Limited Myanmar Company Registration is required f or foreign companies, the most common method of doing business in Myanmar through a limited liability company. However, company may be registered in one of the following forms:- 1. Process for Registering your Company in Myanmar. Created by … After deciding on the type of business you want to establish, you need to get ready a business name as well as a registered business address in Myanmar. Take a look at some of what we have to offer: Planning on registering your own business in Myanmar? One needs to apply for a license from the MIC. Shareholders can be either individuals or corporations, and you also need one resident director who must live in Myanmar for at least 183 days in a calendar year. 2. Myanmar Company Registration. On general term the process is simple but preparation of documents and getting approval/permit from various authority is quite long and lengthy process. Confirm your NRC (or Passport) and Nationality. 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