Foreign Company

 Foreign investors wanting full control over their affiliates or sovereign entity. These entities are allowed to engage in business activities in the service industry such as hotel, restaurant, repair, installation, consultancy, advisory, management, etc. 

COMPANY NAME SEARCH

  A company name must include at the end; "Limited" or "Company Limited”. A company name search should be carried out to check name availability before company registration.

  

CAPITAL REQUIREMENT

There is no minimum capital requirement and capital currency can be in USD or MMK.

OFFICE ADDRESS

  Registered office address is required for company registration. If you have yet to find a suitable physical office address, you may consider using a virtual office address for either on temporary or permanent basis.  

  

DIRECTOR

  Minimum one director is required and one of the directors of the company must be a resident. Resident director can be foreigner or Myanmar citizen as long as the resident director resides in Myanmar for more than 183 days within 12 months period.

SHAREHOLDER

 Minimum one shareholder. Shareholder can be a natural person or corporate shareholder.  

ANNUAL RETURN (DECLARATION OF THE COMPANY STATUS)

Newly incorporated company must submit an Annual Return (AR) within two months and thereafter every 12 months. Late submission will incur a penalty. 

 

COMMERCIAL TAX

  Registration of commercial tax is required unless the entity is registered as a Small Medium Enterprise with less than 50 million kyats revenue per year or less than 30 employees.

 

TAX REGISTRATION

Company Tax registration is not required.

FINANCIAL YEAR END DATE

Financial year end date is fixed on the 30th of September of every year.

TAX ASSESSMENT

  Company is obliged to submit the company financial account statement to the Tax Authority within 3 months after the year end date. Company Income Tax is 25%.

 

BANK ACCOUNT

  When applying or adding an authorized signatory to the bank account, that person has to be present at the bank with a valid business visa. Click available banks in Myanmar for bank account opening https://www.cbm.gov.mm/content/private-banks 

  

COMPANY SECRETARY

  Company secretary is not mandatory. However, the company or company secretary is obliged to keep all statutory records and minutes in compliance with the company ordinance. Absent of proper documents are subject to penalties.

 

Documents required for company registration

Natural person registration

i) Passport copy of the director and shareholder

ii) Residential address, email address, mobile number of the director and shareholder

iii) Myanmar office address

iv) Myanmar contact number

Corporate Shareholder

i) Certificate of Incorporation

ii) Memorandum and Articles of Association

iii) Original copy of the resolution

iv) List of Directors

v) Appointment Letter/power of attorney for authorized person

vi) Myanmar office address

vii) Home address of the director and shareholder

viii) Passport of the director and representative

ix) Last two years annual report or audited financial statements of the company.

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