Ministry of Investment and Foreign Economic Relations (MIFER). Public companies must appoint at least 3 directors, and at least one of the directors must be a Myanmar citizen who is ordinarily resident in Myanmar. Company incorporation is carried out by DICA in accordance with the provisions of the Myanmar Companies Law (2017); and investment proposal applications come under the Myanmar Investment Commission (DICA is the secretariat of the MIC). Process for Registering your Company in Myanmar. However, company may be registered in one of the following forms:- 1. If you’re a foreign investor thinking about performing activities business in Myanmar, company registration within this country will be a lot simpler and faster. More importantly, companies registered in Myanmar have until January 31, 2019 to re-register on an electronic system once the new law and related regulations come into effect on August 1. Our company registration number changed from 25FC/2013-2014 to 100066009 after the re-registration. prior to the 31 January 2019, assuming the MCL become effective on 1 August 2018 as scheduled). Yangon All companies incorporated in Myanmar are required to re-register with the DICA via ‘MyCo‘ within a six month Re- registration Period (i.e. More importantly, companies registered in Myanmar have until January 31, 2019 to re-register on an electronic system once the new law and related regulations come into effect on August 1. Submitted by Eleven on Thu, 07/26/2018 - 10:06 Writer: Zeyar Nyein As from August 1, all companies in Myanmar will have to carry out re-registration via online, said Aung Naing Oo, Secretary of Myanmar Investment Commission. p�l;�b`J -Մx�Ƹ��o�ӂ���>ރq�����s3��~K9�9�/C�s�g$�^�`U1�����ٌ��&S�����u��x����uϒh#4/�;fͲ��|�1p� �{'��}�� The company, after registration, must apply for a Certificate of Commencement of Business to enable start the business operation. An existing company which does not re-register on the MyCO by 31 January 2019 may be struck off the companies register. At present, over 41,000 companies, including new companies, have registered and re-registered on MyCO.“Over 60,000 companies were previously registered in Myanmar, according to data with the DICA. Company registration c erti cates for all types of companies in Myanmar ar e only valid for v e years. For Myanmar company registration, a business needs to be registered under the Myanmar Foreign Investment Law (MFIL). 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. Private Company by Myanmar Ci… Comment Luther: Kindly note that the original passport of the applicant shall be shown for picking up the FRC and Long-Term Stay Permit. We have given enough time to companies to re-register on MyCO,” said U Than Aung Kyaw. There are no restrictions on the transfer of shares in companies between local and foreign shareholders, but any change to 'foreign' status for a company will need to be advised to DICA. Strategically located between China and India, Myanmar is a country rich in natural resources. A company or entity can be registered on Myanmar Companies Online (MyCO) in accordance with the Myanmar Companies Law (2017) and the Special Company Act (1950). %PDF-1.7 %���� 31.2014). II. New trademarks can be filed under the new system starting March 2021; the fees are yet to be announced. 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. But in case you’re into investment proposal application the process is under the jurisdiction of Myanmar Investment Commission’s approval. 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. New company registrations can be completed via Myanmar Companies Online (MyCO), following the commencement of the Myanmar Companies Law … A company like this can be a foreign company registered in Myanmar or through a branch or representative office formed outside Myanmar. Limited Myanmar Company Registration is required f or foreign companies, the most common method of doing business in Myanmar through a limited liability company. One needs to apply for a license from the MIC. How to re-register. 1.Apply for Myanmar Investment Commission’s (MIC) permit. With our team of 50+ recruitment professionals, we are able to offer our clients a solution for all of their staffing needs. Rules and Rules A business in Myanmar is considered like a foreign company if a person share is a member of an overseas affiliate. Posts about Company Registration in Myanmar written by S & F CONSULTING FIRM LIMITED Copies of the sponsoring company’s corporate documents (i.e. The Directorate of Investment and Company Administration (“DICA”) has issued Category B forms which must be completed to effect re-registration. Such a company could be a foreign company registered in Myanmar or by means of a branch office or representative office formed outside Myanmar. There are no minimum capital requirements for the incorporation of company. Certificate of Registration, Form of Permit, Form 26 or Form 18). In preparation for the launch of a new electronic companies registry system, Myanmar Companies Online (“MyCO”), The Directorate of Investment and Company Administration DICA is preparing a set of prescribed forms which will enable the registry to collect company information required to be submitted to the Companies Registrar under the Myanmar Companies Law. In Myanmar, a new trademark system is being implemented. 3. Call 09 777 979 686 for all your company re-registrastion needs. Since 1st August 2018 we have also successfully re-registered the following existing companies on MyCO: Consult-Myanmar Co Ltd – foreign company; Lin Phone Wai Co., Ltd – local company; USL JGL Myanmar Co., Ltd – local company All company registration and filing processes will re-commence on August 1 under the new system MyCO. MyWorld offers the following recruitment services. “Companies whose licenses have expired can carry out re-re-registration. - The governing law for the limited companies is the Myanmar Companies Act 1914. ���r���Ab-��Ŋ�{�>��8�h�����P���i��ovYjp�+�`���CT��jз<6��vٶ?G�$g�F5��N�+ �R���������J�(�˽��#�����P ���P=�C�PHW�2�05�J��M��Q�m~XX� ��9��{��٪$.�8D�(������׏�b�n.V��s�;��\PX�]���I�^�W��$Go:6w��.�YD�Jaܵ��n�6��pL�D���5-�.�o��O�pb��Ċ%�O��C�Fey��I�� W�EROR��.��� This includes companies run by citizens of Myanmar, f oreign companies, branches of for eign There is no minimum capital requirement. The law allows companies with a single shareholder and single director to be established. )x��4'J�p0�x�A�����O��$�ȴ���hS����ξf�RGb�w��mE�x�+t�G�����g�H�U� }�0�S����� �Z�zp8[G����@� MYANMAR, Online Recommendation Letter for Visa Extension, Public Company Limited by Shares under the Special Company Act 1950, Private Company Limited by Shares under the Special Company Act 1950. The DICA requires all existing companies and entities to re-register via MyCo. '�P��kC�:P2�g��{O��(�,�8�k�,(�+N�(�G&�FMI�l�s��5����[�2u��j�r�6��_ Re-registration of companies / branches registered in Myanmar With the launch of the new Myanmar Companies Online (“MyCo”) registration system on 1 August 2018, all companies and branches under the old Companies Law and the Special Company Act must re-register in MyCo between 1 August 2018 and 31 January 2019. Address:monywa ucessful star multi agricultural product. endstream endobj 223 0 obj <>stream Following are the steps listing how to register a company under MFIL. Re-registration under the Myanmar Companies Law. Myanmar has introduced a new Association(s) Registration Law (Registration Law) (No. No. This mandatory company re-registration must be performed from 1 August 2018 to 31st January 2019, as the implementation period of the Myanmar Companies (Electronic Registry System and Miscellaneous Matters) Regulations 2018. Currently, only trademarks already registered with the previous system can be filed under this new system. Myanmar - Mandatory Company Re-Registration By 31 January 2019. But these companies need to pay Ks-250,000 for registration as… Address:88street, yangon, myanmar, Myanmar UAsiaMicroFarm Fresh egg,preserve egg. Companies are registered by the Directorate of Investment and Company Administration (DICA). A company with share contribution of the State shall be registered under the Special Company Act 1950 and the Myanmar Companies Act 1914. Application Process Once the foreigner has arrived in Myanmar, the FRC and Long- Registering a company in Myanmar is still expensive and time consuming for foreigners because: Not all sectors of the Myanmar economy are fully open for foreign investment in Myanmar. {ٿ�5w90jtE��;tj��k��p��HF�A���qf��%V\� ,r��J!�6��>}j��E�Fg-Ǫ�0�x�!qt[ʡ�g��Y���2`�8L��'�)+� ���d!E�%���(&��;�K��4���3so2�$̓��ґº�\A�v/d��j���}���W�"����t:�p���c]�9�r�K�}��.i�"�4�:3S���@�,�^��%��@O՗@����1�|E�E�-Tm����~��ev:6v������Igu9G�`���*����K:��D�^LF]/b8��,O� � �����J�����Z�|�Do븓w�ʥ�㠓3~>ӕb�R? Established by DICA, MyCO acts as a public registry of all companies and entities registered under the Myanmar Companies Law (2017). ��U�b�,S� 4��U��w�V��%�ex�7!–l�p��l��y�L��Z� Address:New University Avenue Road, yangon, Myanmar Yangon, sagaing division onion group red onion,fresh onion. Company incorporation is under the jurisdiction of the Directorate of Investment and Company Administration (DICA), a secretariat of the Myanmar Investment Commission (MIC). 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. ... You agree to these terms as an authorized representative of the company on the account. Such a company could be a foreign company registered in Myanmar or by means of a branch office or representative office formed outside Myanmar. The options are a sole proprietorship, a partnership, a limited liability company (LLC), a registered branch of a foreign company, or a joint venture. 2��x� `���!Xr�����K�~ĺ��kl�+��E/.j���{Yi/6љ�����K`e覗a�+�L$�����sA�|�dYUQm0�@�-1�fi�. Take note that an overseas corporation is not a limited liability entity. 26 June, 2018 . When it comes to Myanmar company registration, the Directorate of Investment and Company Administration (DICA) is responsible for the registration of both local and foreign businesses. 1, Thitsar Road, Yankin Township, Re-registration must be completed prior to 31 January 2019. The types of companies and entities which can be registered on MyCO are as follows: MyCO can be used to incorporate companies, submit and file company information with the Companies Registrar (DICA), search company information and purchase company information. ���ӗ�*7_��M�0�j�T a)^h���Crjsܷ�[rr��2���e]b(yD#r ���"�Od�t��o�¸|e5��U!����eI��X �/�%�] &�]�t����9:_��G���Z��z� ��s~r�f��8!��9))7�]��QqH�׬UBx'�Z���oj��ڊ�30W�"��{FOY��L׶x���ld�r���2� A 65%/35% JV company of this nature is considered to be a “local” Myanmar company under the new Myanmar Company Law. It requires all companies established in Myanmar to appoint at least one director who is 'ordinarily resident' in Myanmar. A person will be considered to be ordinarily resident if they hold permanent residency or is resident in Myanmar for at least 183 days in each 12 month period.  The period of residency will be calculated from the date of incorporation of a company (or the date of commencement of the new law for existing companies). Legal News & Analysis - Asia Pacific - Myanmar- FDI . Business form like sole proprietorship and partnership enterprise not required to register under DICA. All company registration and filing processes will re-commence on August 1 under the new system MyCO. The step-by-step process of company registration in Myanmar. Address:Myanmar Aung Myi UREA n 46%. The Registration Law was enacted by the Union Parliament on 25 June 2014 and signed by the President and officially gazetted on 20 July 2014. This is a significant liberalisation measure as foreign investors can now own up to 35% of the equity in Myanmar owned companies (directly or indirectly), without changing the company’s status to a 'foreign company'. DICA is in charge of company registrations for local and foreign businesses under the Myanmar Companies Law 2017. MyWorld Careers is ranked as the top recruitment and staffing services company in Myanmar. For example, setting up a foreign company in Myanmar to do business in agriculture, requires formation of a … The information on MyCO is maintained electronically and is publicly accessible 24 hours a day, 7 days a week. Company incorporation is carried out by DICA in accordance with the provisions of the Myanmar Companies Law (2017); and investment proposal applications come under the Myanmar Investment Commission (DICA is the secretariat of the MIC). Re – registration. We, team at Myanmar Company registration Services LTD thank you for all those customers who have given opportunities to serve you, THANK YOU. New company registrations can be completed via Myanmar Companies Online (MyCO), following the commencement of the Myanmar Companies Law (2017). Every Myanmar company must maintain a registered office in Myanmar to which all communications and notices may be addressed. 222 0 obj <>stream In the case of a limited liability company, foreign ownership is allowed up to a maximum of 35% in local companies. * Overseas Corporation. Re-registration can be completed online from 1 August 2018. All registered companies and other entities under the Myanmar Companies 1914 and Special Company Act 1950 must re-register on MyCO from 1 August 2018. Investors interested in Company Registration in Myanmar, Start first have to decide what kind of structure they want to stay. 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. This is basically a Myanmar Branch of a company that has been Incorporated outside Myanmar. Myanmar Company Registration Services. �@�}ש�^Pq�>]D�������@ -����hO]^=;4�2$/l�_.�0Z��-��p;�݆�}0v�'�u:�W&oޢ8ڟR���:�Q-�8}35 w< �d�L#�����y�|�\�X�Vx�/׼�޿`��!�w[�/H��A?�*�|��S������*�N �i���›E����lxk��N�������8U�+#�Uo��l7���`����i ��JJ�����M�,���=T��P��c%G�w=tM��h�ݻ���d5W.