Business Registration Workflow
Registering a Company in Myanmar
Investors interested in registering a company in Myanmar will first need to decide what kind of structure they want to set up. Available options are a sole proprietorship, a partnership, a limited liability company (LLC), a registered branch of a foreign company, or a joint venture.
After deciding on the type of business you want to set up you’ll need to apply for a permit to trade at the Company Registration Office, which is under the Directorate of Investment and Company Administration. The main CRO office is in Nay Pyi Taw, but a branch in Yangon has been recently opened. Here are the documents you need to apply for a permit to trade:
(1) Form A of the Myanmar Companies Regulation 1957
(2) Draft Memorandum and Articles of Association
(3) Duly completed questionnaire form
(4) Intended activities to be performed
(5) Estimated expenditures to be incurred in Myanmar for the first year operations
(6) Financial credibility of the company/individual
(7) Board of Directors resolution, if the subscriber is a company.
After you submit these documents, and obtain your temporary permit to trade, you’ll need to submit another set of forms to register your company. To clarify: First get a permit to trade. With your permit to trade you can then register your company. These are the documents you’ll need to register the company (also at the CRO):
(1) Two sets of Memorandum and Articles of Association duly stamped and printed both in Myanmar and English
(2) Declaration of registration
(3) Declaration of legal and official version of the documents
(4) Declaration of the situation of registered office
(5) Translation certificate by a competent translator
(6) List of Directors
(7) List of person(s) authorized to accept services of process and notice in Myanmar on behalf of the company (i.e. for a branch office of a foreign company.)
After registration you will need to inject the required amount of capital into the business (this differs depending on what kind of company you are setting up)
The above process is for a normal company under the Myanmar Companies Act. Investors wishing to apply for a Myanmar Investment Commission (MIC)Permit will need to submit a detailed business plan and financial model to the MIC, as well as fill out additional forms. If you want to apply for an MIC permit, it’s a good idea to have a local company help you with the process.
More details : https://www.pwc.com/mm/en/publications/assets/myanmar-business-guide.pdf
Credit Link : https://www.pwc.com/mm/en/publications/myanmar_business_guide.html