Official Name: Myanmar (Burma)
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Myanmar
Myanmar, also known as Burma, is a country located in Southeast Asia with a complex history, diverse culture, developing economy, and a challenging political landscape. Let’s explore the key aspects of Myanmar’s history, culture, economy, and politics.
History:
Myanmar has a rich and ancient history that stretches back over 2,000 years. The region was home to various indigenous civilizations, including the Pyu, Mon, and Bamar peoples. The Bamar Kingdom, established in the 9th century, laid the foundation for the unified Burmese state. Myanmar experienced periods of glory under powerful empires like the Pagan Empire and the Toungoo Dynasty. In the 19th century, British colonial rule was established and lasted until 1948 when Myanmar gained independence.
Culture:
Myanmar is a diverse nation with a mosaic of ethnic groups, each contributing to its unique cultural tapestry. The majority ethnic group is the Bamar, who have heavily influenced the country’s language, religion, and traditions. Theravada Buddhism plays a significant role in Myanmar’s culture, with countless pagodas and monasteries dotting the landscape. Traditional arts, such as puppetry, dance, music, and literature, are cherished and celebrated. Festivals like Thingyan (Water Festival) and Tazaungdaing (Festival of Lights) showcase the vibrancy and religious fervor of the Myanmar people.
Economy:
Myanmar’s economy has undergone significant transformations in recent years. Historically, the country relied on agriculture, particularly rice cultivation and gemstone mining. However, economic reforms and increased foreign investment have spurred growth in sectors such as manufacturing, tourism, and natural resource extraction. Myanmar is rich in natural resources, including oil, natural gas, precious stones, and timber. Challenges remain in terms of infrastructure development, poverty reduction, and attracting sustainable investments to ensure inclusive growth.
Politics:
Myanmar’s political landscape has been marked by complexities and challenges. Following independence in 1948, the country struggled with ethnic tensions, internal conflicts, and military rule. The military, known as the Tatmadaw, assumed control in 1962 and ruled for several decades. A transition towards democracy began in 2011, leading to the election of a civilian-led government in 2015. However, the military retained significant political influence and, in a controversial move, staged a coup in February 2021, deposing the elected government and reasserting military rule.
The coup resulted in widespread protests and international condemnation, leading to a fragile political situation. Myanmar’s path to stability and democratic governance continues to face obstacles, with concerns over human rights abuses and the treatment of ethnic minorities. The country remains a subject of international scrutiny and diplomatic efforts to restore democracy and ensure the welfare of its citizens.
Types of Companies in Myanmar
Private Company Limited by Shares:
A private company limited by shares is the most common type of company in Myanmar. It requires at least two shareholders and can have a maximum of 50 shareholders. The liability of shareholders is limited to the amount unpaid on their shares. This type of company is often used for small and medium-sized businesses.
Public Company Limited by Shares:
A public company limited by shares is similar to a private company but with certain differences. It can have an unlimited number of shareholders, and its shares can be traded publicly on a stock exchange. This type of company is subject to more stringent regulations and disclosure requirements compared to a private company.
Company Limited by Guarantee:
A company limited by guarantee is typically used for nonprofit or charitable purposes. It does not have share capital or shareholders but is instead formed by members who provide a guarantee to contribute a specified amount in the event of the company’s winding-up. The liability of the members is limited to the amount of guarantee.
Foreign Company/Branch Office:
Foreign companies can establish a branch office in Myanmar to carry out business activities. The branch office operates as an extension of the foreign company and is subject to certain regulations and reporting requirements. It is important to note that a branch office cannot engage in activities outside the scope of its parent company.
Joint Venture Company:
A joint venture company is formed through a partnership between foreign and local entities. It allows for collaboration and sharing of resources, expertise, and risks. Joint venture companies can be established as a separate legal entity or as a contractual arrangement.
Sole Proprietorship:
A sole proprietorship is a business owned and operated by an individual. It is the simplest form of business organization and does not have a separate legal entity. The owner has unlimited personal liability for the debts and obligations of the business.
Partnership:
Partnerships in Myanmar can be formed as either general partnerships or limited partnerships. In a general partnership, all partners have unlimited liability for the partnership’s debts and obligations. In a limited partnership, there are both general partners (with unlimited liability) and limited partners (with liability limited to their capital contribution).
Common questions
How do I register a company in Myanmar?
To register a company in Myanmar, you need to submit the necessary documents and forms to the Directorate of Investment and Company Administration (DICA) and comply with the requirements of the Myanmar Companies Law.
What are the requirements to register a company in Myanmar?
The requirements include a proposed company name, a registered office address, details of shareholders and directors, a memorandum and articles of association, and other relevant documents.
Can foreign nationals or entities register a company in Myanmar?
Yes, foreign nationals or entities can register a company in Myanmar. However, there are certain restrictions and requirements for foreign investment in certain sectors.
What is the minimum capital requirement for company registration in Myanmar?
Under the Myanmar Companies Law, there is no longer a minimum capital requirement for most types of companies.
How long does it take to register a company in Myanmar?
The registration process usually takes around 4-6 weeks, depending on the completeness of the application and any additional requirements.
Can I register a company online in Myanmar?
Currently, the company registration process in Myanmar is primarily conducted offline, requiring physical submission of documents to the DICA.
What is the role of the Directorate of Investment and Company Administration (DICA)?
The DICA is responsible for the administration and regulation of company registration and foreign investment in Myanmar.
What is the difference between a private company and a public company?
A private company has restrictions on the transfer of shares and a maximum of 50 shareholders, while a public company can have an unlimited number of shareholders, and its shares can be publicly traded.
What are the tax obligations for registered companies in Myanmar?
Registered companies are subject to various taxes, including income tax, commercial tax, and withholding tax. It is essential to comply with tax regulations and file tax returns accordingly.
Can I change the company name after registration?
Yes, you can change the company name after registration by following the prescribed procedures and obtaining approval from the DICA.
Can a company have a foreign director or shareholder?
Yes, a company in Myanmar can have foreign directors and shareholders. However, the company must comply with the foreign investment restrictions and requirements for certain sectors.
What is a company secretary, and is it required for registration?
A company secretary is an individual responsible for ensuring compliance with legal and regulatory obligations. While it is not mandatory to appoint a company secretary for registration, it is advisable to do so to ensure proper corporate governance.
Can I register a branch office of a foreign company in Myanmar?
Yes, foreign companies can register a branch office in Myanmar by submitting the required documents to the DICA.
Are there any restrictions on foreign ownership in Myanmar?
Yes, certain sectors have restrictions on foreign ownership, including areas such as agriculture, mining, and telecommunications. It is essential to review the sector-specific regulations before investing.
Can I have multiple businesses under one company registration in Myanmar?
Yes, a company in Myanmar can engage in multiple businesses under a single registration, as long as the activities fall within the permitted scope.
“Our team can provide assistance if you need help registering a company in Myanmar”
What is the validity period of a company registration certificate in Myanmar?
The company registration certificate is valid until the company is dissolved or deregistered.
Can I change the registered office address after registration?
Yes, the registered office address can be changed after registration by following the prescribed procedures and notifying the DICA.
Are there any reporting requirements for registered companies in Myanmar?
Yes, registered companies are required to file annual returns and financial statements with the DICA, maintain proper accounting records, and comply with other reporting obligations.
What is the process to appoint or remove directors in a company?
The appointment or removal of directors requires passing a resolution at a shareholders’ meeting and filing the necessary forms with the DICA.
Can a registered company in Myanmar be wholly owned by foreigners?
In certain sectors, restrictions on foreign ownership may apply, and the extent of foreign ownership may be subject to specific requirements and approvals.
Can a registered company in Myanmar be dissolved or deregistered?
Yes, a company in Myanmar can be dissolved or deregistered voluntarily by passing a resolution at a shareholders’ meeting or involuntarily through a court order.
Can I register a company with only one shareholder?
Yes, you can register a company in Myanmar with a single shareholder. However, it is important to comply with other requirements and regulations.
Can I register a company with a foreign company name?
Yes, you can register a company in Myanmar with a foreign company name. However, it is advisable to choose a name that is not similar to any existing registered companies.
What are the penalties for non-compliance with company registration requirements?
Non-compliance with company registration requirements can result in penalties, fines, or legal consequences. It is important to adhere to the regulations to avoid such issues.
Can I register a company without a local partner or shareholder?
Yes, it is possible to register a company without a local partner or shareholder in Myanmar. However, certain restrictions may apply to foreign ownership in specific sectors.
Can a foreign company register a representative office in Myanmar?
Foreign companies can establish representative offices in Myanmar, subject to specific regulations and restrictions. Representative offices are generally limited to carrying out market research and liaison activities.
What is the role of the Myanmar Investment Commission (MIC)?
The MIC is responsible for approving and providing permits for foreign investments in restricted sectors and promoting investment in Myanmar.
Can I register a company in Myanmar for online businesses?
Yes, you can register a company in Myanmar for online businesses, as long as the activities comply with relevant laws and regulations.
What is the process for company registration renewal in Myanmar?
Companies in Myanmar are required to renew their registration annually by submitting the necessary documents and paying the renewal fees to the DICA.
Can I register a company with foreign currency capital in Myanmar?
Yes, a company in Myanmar can have its capital denominated in foreign currency. However, it is important to comply with the foreign exchange regulations and reporting requirements.
What is the role of the Central Bank of Myanmar in company registration?
The Central Bank of Myanmar oversees monetary policies and foreign exchange regulations, which may impact certain aspects of company registration and operations.
Can a foreigner be the sole director of a registered company in Myanmar?
Yes, a foreigner can be the sole director of a registered company in Myanmar. However, it is important to comply with other requirements and regulations.
“Our team can provide assistance if you need help registering a company in Myanmar”
What are the benefits of registering a company in a special economic zone (SEZ) in Myanmar?
Registering a company in an SEZ can provide various benefits, including tax incentives, simplified procedures, and access to infrastructure and facilities.
Are there any restrictions on company names in Myanmar?
Yes, there are restrictions on company names in Myanmar. The proposed name should not be misleading, offensive, or similar to any existing registered companies.
Can I transfer the shares of a registered company in Myanmar?
Yes, shares of a registered company in Myanmar can be transferred subject to the provisions of the company’s articles of association and compliance with relevant regulations.
Can I register a company with foreign directors but without a local director?
Under the Myanmar Companies Law, at least one director must ordinarily reside in Myanmar. Therefore, it is necessary to have at least one local director.
Can a foreigner hold shares in a Myanmar partnership?
Yes, foreigners can hold shares in a Myanmar partnership, subject to compliance with foreign investment regulations and any sector-specific restrictions.
What are the restrictions on the use of foreign labor in registered companies in Myanmar?
There are regulations on the employment of foreign nationals in Myanmar, and companies are required to obtain the necessary permits and comply with immigration and labor laws.
Can a registered company in Myanmar own property?
Yes, a registered company in Myanmar can own property, subject to the provisions of the relevant laws and regulations.
Can a registered company in Myanmar be converted into a different type of company?
Yes, a registered company in Myanmar can be converted into a different type of company by following the prescribed procedures and obtaining approvals from the DICA.
What is the process for company registration for a micro, small, or medium-sized enterprise (MSME) in Myanmar?
The process for MSME registration in Myanmar is similar to that of other companies. However, there may be specific incentives or support available for MSMEs.
Can I register a company with multiple locations or branches in Myanmar?
Yes, a company in Myanmar can have multiple locations or branches. However, each branch should be registered with the DICA and comply with relevant regulations.
Can a registered company in Myanmar be a subsidiary of a foreign company?
Yes, a registered company in Myanmar can be a subsidiary of a foreign company, subject to compliance with foreign investment regulations and any sector-specific restrictions.
Can a registered company in Myanmar change its business activities after registration?
Yes, a registered company in Myanmar can change its business activities after registration by following the prescribed procedures and obtaining necessary approvals.
“Our team can provide assistance if you need help registering a company in Myanmar”
What are the regulations for intellectual property rights in registered companies in Myanmar?
Myanmar has intellectual property laws to protect trademarks, patents, copyrights, and other intellectual property rights. Companies should comply with these regulations to protect their intellectual property.
Can a registered company in Myanmar merge with or acquire another company?
Yes, companies in Myanmar can merge with or acquire other companies by following the prescribed procedures and obtaining necessary approvals.
Can a registered company in Myanmar open a bank account?
Yes, a registered company in Myanmar can open a bank account with authorized banks in the country.
What are the regulations for hiring local employees in registered companies in Myanmar?
Companies in Myanmar must comply with labor laws and regulations when hiring local employees, including employment contracts, benefits, and compliance with minimum wage requirements.
Are there any incentives or benefits available for registered companies in Myanmar?
Myanmar offers various incentives and benefits, such as tax incentives, investment guarantees, and access to special economic zones, to promote investment and business growth.
Can I register a company with a foreign address in Myanmar?
No, a registered company in Myanmar must have a registered office address within the country.
Major Banks in Myanmar
- Kanbawza Bank (KBZ Bank): www.kbzbank.com
- Myanmar Economic Bank (MEB): www.meb.com.mm
- Ayeyarwady Bank (AYA Bank): www.ayabank.com
- Yoma Bank: www.yomabank.com
- CB Bank (Co-Operative Bank): www.cbbank.com.mm
- Asia Green Development (AGD) Bank: www.agdbank.com.mm
- Myanmar Citizens Bank (MCB): www.mcb.com.mm
- United Amara Bank (UAB): www.unitedamarabank.com
- Myanma Apex Bank (MAB): www.mab.com.mm
- Myanmar Oriental Bank (MOB): www.mob.com.mm
The top universities in Myanmar
University of Yangon:
Website: www.yangonuniversity.edu.mm
Location: Yangon
Major Courses: Arts, Science, Law, Medicine, Education, Economics
Mandalay University:
Website: www.mandalayuniversity.edu.mm
Location: Mandalay
Major Courses: Arts, Science, Law, Commerce, Education
University of Medicine 1, Yangon:
Website: www.um1ygn.edu.mm
Location: Yangon
Major Courses: Medicine, Dentistry, Pharmacy, Nursing
Yangon University of Economics:
Website: www.yueco.edu.mm
Location: Yangon
Major Courses: Economics, Business Administration, Development Studies
Yangon University of Foreign Languages:
Website: www.yufl.edu.mm
Location: Yangon
Major Courses: English, French, German, Japanese, Chinese
Myanmar Maritime University:
Website: www.mmu.edu.mm
Location: Thanlyin, Yangon Region
Major Courses: Marine Engineering, Naval Architecture, Nautical Science
Yangon Technological University:
Website: www.ytu.edu.mm
Location: Yangon
Major Courses: Engineering (Civil, Mechanical, Electrical, Electronic, etc.)
University of Computer Studies, Yangon:
Website: www.ucsy.edu.mm
Location: Yangon
Major Courses: Computer Science, Information Technology, Software Engineering
Dagon University:
Website: www.dagonuniversity.edu.mm
Location: Yangon
Major Courses: Arts, Science, Law, Commerce, Education
University of Mandalay:
Website: www.u-mandalay.edu.mm
Location: Mandalay
Major Courses: Arts, Science, Law, Commerce, Education
“If you need assistance registering for college or university, our team is here to help.”
Strange or unusual to visitors in Myanmar
Traditional Food: Myanmar cuisine has its own distinctive flavors and ingredients. Dishes like fermented tea leaf salad (Lahpet Thoke), pickled tea leaf soup (Htamin Chin), or deep-fried snacks might be unfamiliar to some visitors but offer a chance to explore the local culinary scene.
“Tips for Newcomers: Adjusting to Life in Myanmar”
Learn the Language: While English is spoken in urban areas and tourist hotspots, learning a few basic phrases in the local language, Burmese, can go a long way in daily interactions and building relationships with locals.
Understand the Culture: Familiarize yourself with Myanmar’s culture, customs, and traditions. Show respect for local customs, such as removing shoes before entering homes or temples, and dressing modestly when visiting religious sites.
Embrace the Food: Myanmar offers a diverse culinary experience. Be adventurous and try local dishes such as Mohinga (rice noodle soup), Shan noodles, and various street food delicacies. Also, be mindful of hygiene and opt for clean and reputable food establishments.
Connect with Locals: Myanmar is known for its friendly and welcoming people. Take the initiative to engage with locals, make new friends, and participate in community activities. This will help you build a support network and gain insights into the local way of life.
Transportation and Traffic: Get familiar with the local transportation options, such as taxis, buses, and trishaws (three-wheeled pedicabs). Be prepared for traffic congestion, especially in major cities like Yangon. Plan your travel accordingly and allow extra time for commuting.
Stay Hydrated: Myanmar’s climate can be hot and humid, so it’s essential to stay hydrated. Drink bottled or filtered water, and carry a water bottle with you when you’re out and about.
Adapt to Internet and Power Outages: Internet access and power outages can be common in certain areas. Have alternative means of staying connected and consider investing in power backup options, such as portable chargers or battery-operated devices.
Respect Local Customs and Laws: Familiarize yourself with local laws and regulations to avoid any unintentional breaches. Show respect for religious sites, images, and symbols, and follow any dress code requirements when visiting temples or pagodas.
Stay Informed: Keep updated on the latest news and events in Myanmar. Be aware of any travel advisories or safety concerns and follow guidance from reliable sources, such as embassies or consulates.
Patience and Flexibility: Adjusting to a new culture takes time. Be patient, embrace the differences, and maintain a flexible mindset. Embrace the slower pace of life and appreciate the unique experiences that Myanmar has to offer.
Top recruitment agencies in Myanmar
- MyWorld Careers Co., Ltd: www.myworld.com.mm
- Phyo Myanmar International Co., Ltd: www.phyomyanmar.com
- Trust Venture Partners: www.trustvp.com
- New Starlight Job Placement Services: www.newstarlightjob.com
- Talent Group Asia: www.talentgroup.asia
- Michael Page Myanmar: www.michaelpage.com.mm
- Myanmar Business Answers: www.myanmarbusinessanswers.com
- NGS Group: www.ngs.com.mm
- Elite Tech Myanmar Co., Ltd: www.elitetech.com.mm
- Apollo Towers Myanmar Limited: www.apollotowers.com.mm
Necessary phone numbers in Myanmar
Telephone Enquiries (Mandalay): 199
The best way to immigrate to Myanmar
Employment Sponsorship: Obtaining a job offer from a Myanmar-based company is one way to immigrate. The employer will need to sponsor your work permit and other necessary documents. This route typically applies to individuals with specialized skills or those working in sectors with a shortage of local talent.
Investment: Investing in Myanmar through the Myanmar Investment Commission (MIC) or the Myanmar Investment Promotion Plan (MIPP) can provide opportunities for long-term residency and business ownership. The investment amount and specific requirements vary depending on the investment category.
Marriage to a Myanmar Citizen: If you are married to a Myanmar citizen, you may be eligible to apply for residency or citizenship. The process involves providing proof of the marriage and meeting specific criteria set by the government.
Education and Student Visas: Enrolling in a recognized educational institution in Myanmar can allow you to obtain a student visa. This option is suitable for those seeking temporary residency while pursuing academic studies.
Humanitarian and Refugee Resettlement: For individuals seeking refuge or asylum in Myanmar, the UNHCR (United Nations High Commissioner for Refugees) and other international organizations can assist with refugee resettlement programs.
