Myanmar

myanmar flag

Official Name:     Myanmar (Burma)

myanmar

OUR SERVICES;                      

  • Consultation (in person, online, phone)
  • Helping to prepare your documents
  • Start to finish your company registration process
  • Immigration services

Myanmar 

Myanmar is located in East Asia and Myanmar’s largest city is also called Rangoon. Myanmar shares borders with China to the northeast, Laos to the east, Thailand to the southeast, and India to the northwest. Myanmar has a population of 53 million. Myanmar is very rich in resources, but because it has not had good economic growth and has included little development, it is still on the list of the least developed countries in the world. Myanmar’s GDP is estimated at $ 53.14 billion and its average economic growth is 5.5 percent per year.

General Questions

How long does it take to register a company in Myanmar?
12 months to 14 months

Which companies can be registered with 100% foreign shareholders?
Limited Liability Company (LLC)

How many shareholders must be in order to register a company?
At least 2 people

What is the minimum capital required to register a company?
$ 50,000 USD

How much does it cost to register a company in Myanmar?
$ 20,825 USD

What are the most common ways to get a Myanmar residency?
Education, marriage, entrepreneurship, work residence, ‌ investment

Do I need a physical office to register a foreign company?
Yes, to create a foreign company, you must provide a physical address.

The benefits of company registration in Myanmar

  • Extensive and untouched natural resources
  • Skilled labor with low wages
  • Myanmar’s market of 53 million people
  • The youngest country in Southeast Asia
  • A growing market. The GDP rate is about 7.5 in 2020
  • World Bank’s $ 400 million loan to Myanmar to invest in the country’s infrastructure
  • Many government incentives in the Myanmar Free Zone, including a
  • 5-year tax exemption, a customs tax exemption for machinery, equipment and raw materials
  • Tax exemption agreement with Bangladesh, Indonesia, Laos, India, Malaysia, UK, Vietnam and Singapore
  • Extensive sources of oil and gas, expensive minerals such as copper and gold, timber and forests.
  • Investment license for foreigners in the oil and gas industry

The disadvantage of company registration in Myanmar

  • Myanmar is not politically stable
  • Limited control of the country by the central government
  • International banks are strict about opening bank accounts for foreign companies
  • The cost of registering a company in Myanmar is time consuming and high for foreigners
  • Registration of an agricultural company requires a license and a Myanmar partner with 50% stake
  • The minimum investment for foreigners is $ 50,000 for industries and $ 1,150,000 for manufacturing companies
  • The company registration process in Myanmar is long.
  • People’s purchasing power is under $ 2,000 a year
  • About 70% of people live in rural areas
  • Three and a half million tourists visit Myanmar every year
  • The transportation system is very weak. Myanmar ranks fifth in the world for poor quality roads and 18th in the world for quality ports
  • US, Canadian and EU sanctions against Myanmar

Type of company registration

  • Myanmar Limited Liability Company (LLC)
  • Myanmar Public Limited Company (PLCC)
  • Joint venture Company (JVC)
  • Foreign Branches

The company registration process 

  • Register a name and get confirmation
  • Preparation and adjustment of articles of association with complete specifications (name, type of company, company goals, names of managers, names of shareholders and amount of shares, company address)
  • Opening a bank account and depositing shares
  • Registration of the company in the tax office and obtaining the tax code
  • Registration of the company in the insurance office
  • Preparation of company seal