Company Formation Services
Myanmar
Myanmar, officially the Republic of the Union of Myanmar, is a country in Southeast Asia. Myanmar is bordered by Bangladesh and India to its northwest, China to its northeast, Laos and Thailand to its east and southeast, and the Andaman Sea and the Bay of Bengal to its south and southwest. With a size of 676,578 square kilometers (261,228 square miles), Myanmar is the largest of the Mainland Southeast Asian states by area. Its capital city is Naypyidaw, and its largest city is Yangon. Myanmar has been a member of the Association of Southeast Asian Nations (ASEAN) since 1997.
The opportunities in Myanmar
Myanmar, branded by the International Monetary Fund as Asia’s ‘final frontier’ has a population of 60 million and a growing GDP per capita at 7 to 8% annually. The consumer market is relatively young and offers great potential for suppliers of basic goods and services. The country’s attractive geographical location connects it with China, India, Bangladesh and the ASEAN members of Thailand and Laos, providing access to a market of approximately three billion people.
Myanmar Government Support
The Government of the Republic of the Union of Myanmar is inviting investors to the country to utilize the present business opportunities and is also trying to create a more investor-friendly business environment which would ultimately increase the growth of the economy of Myanmar.
Company Incorporation Services
Myanmar Enterprise Solutions is the Myanmar’s leading expert in company formations. A company or entity can be registered in accordance with the Myanmar Companies Law (2017) and the Special Company Act (1950). The types of companies and entities which can be registered are as follows:
-Private Company Limited by Shares
-Public Company Limited by Shares
-Company Limited by Guarantee
-Unlimited Company
-Business Association
-Public Company Limited by Shares under the Special Company Act 1950
-Private Company Limited by Shares under the Special Company Act 1950
-Overseas Corporation
Single Shareholder and Single Director
The New Myanmar Companies law allows companies with a single shareholder and single director to be established. 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 a 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).
Foreign Ownership
In the case of a limited liability company, foreign ownership is allowed up to a maximum of 35% in local companies. This is a significant liberalization 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’. Our local experienced team of professionals specialized in advising the right kind of business setup considering the client need. Our consultants design specific services which help business owners to start a business in a cost effective manner in your desired location. In addition to company formation services, we can provide:
Directorships and officer services
Our Directors and Officers, CPA Holder, utilize their many years of experience in corporate governance and operational excellence to support the boards of our client’s business entities. We can provide you with the provision of non-executive directors with a background in finance. As per Myanmar Companies Law 2017, a company can be incorporated if one director is ordinarily resident in Myanmar. A person will be considered to be ordinarily resident if they hold a permanent residency or is resident in Myanmar for at least 183 days in each 12 month period.
Registered offices service
You can use our address at Companies Registrar (DICA) as your Registered Office Address. This is the formal address of the company as an entity and where MES and Companies Registrar (DICA) correspondence will be sent to. When we receive letters on your behalf you are notified automatically via E-Mail.
Director offices service
You can use our address at Companies Registrar (DICA) as your Director’s Correspondence Address. This is the public mailing address of yourself as director of the company and protects your home address from ending up in other databases. When we receive letters on your behalf you are notified automatically via E-Mail.
Annual Return
Section 97 of the Myanmar Companies Law 2017 provides that every company must within 2 months of its incorporation and once at least every year (but no later than 1 month after the anniversary of its incorporation) file a return of its particulars with the Registrar, which is called the Annual Return. All companies must file an Annual Return with the Registrar. Failure to file an annual return may result in the company’s registration being suspended and the company being struck off. We can provide the annual return filing service without any delay. We will notify automatically before 2 weeks ahead of Annual Return Due Date. Changes of Company Details and Share Capital Matters We can provide the following corporate secretarial service: Address Change, Company Name Change, Constitution Alteration, Share Capital Change, Share Transfer, Company Type Change and Other Amendment.