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
There is no minimum capital requirement.
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.
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.
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.
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 .
Company Tax registration is not required.
FINANCIAL YEAR END DATE
Financial year end date is fixed on the 30th of September of every year.
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%.
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 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