Managedline: business consultancy and legal advice Myanmar
Registration and permits
Pursuant to Myanmar Ministry of Commerce Notification No. 25/2018 dated 9 May 2018, wholly foreign-owned companies and joint ventures with foreign shareholdings are permitted to engage in retail and wholesale trading (of domestically produced and/or imported goods) in Myanmar, subject to compliance with certain requirements and investment criteria.
All wholly foreign-owned companies and joint ventures with foreign shareholdings are required to register with the Ministry of Commerce, and obtain a permit before they can engage in trading activities. The following documents and information must be submitted to the Ministry of Commerce for purposes of registration:
- certification of incorporation;
- copy of Myanmar Investment Commission (MIC) permit or MIC endorsement (where applicable);
- recommendation
letter from the relevant City Development Committee or Township
Development Committee in each region or state in which the company
proposes to trade;
list of goods proposed to be traded; and - detailed business plan (including the initial investment amount, the proposed trading location(s), area of land use and proposed trade volumes).
Concluding Remarks
With the liberalization of Myanmar’s economy, foreign companies should seize the opportunity to be one of the early movers into Myanmar.
Myanmar is currently still undeveloped, Managedline business consultancy has a deep understanding of the regulatory and business environment in Myanmar. We are well equipped to assist clients with complex legal matters across a wide range of disciplines.
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