Joint Venture

Partnering with a local company or individual, with a view to penetrating the domestic market. Compliant with the Myanmar Foreign Law to engage in business activities that required a JV.

COMPANY NAME SEARCH

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

CAPITAL REQUIREMENT

 There is no minimum capital requirement. 

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 either on a 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 penalties. 

  

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

  The authorized signatory has to be present at the bank with a valid business visa. Click for the bank available in Myanmar for bank account opening https://www.cbm.gov.mm/content/private-banks 

  

COMPANY SECRETARY

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

Natural person registration

ii) Director and shareholder passport copy

ii) Home address of the director and shareholder

iii) Myanmar office address

iv) Myanmar contact number

Company Application

1)  *Certificate of Incorporation

2)  *Memorandum and Articles of Association

3)   Original copy of the resolution from both companies

4)    List of Directors

5)  *Appointment Letter/power of attorney for authorized person

6)    Myanmar office address

7)    Home address of the director and shareholder

8)    Passport of the director and representative

9)    Annual report or audited financial statements of the company fo previous two years.

10)  Draft of the JV Agreement

11) Recommendation letter from the Union Attorney Generals's office

*Indicates documents that must be notarized and certified by the appropriate authorities of
the resident country and by the Embassy of Myanmar in that country)

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