Limited Liability Company
Limited liability companies can be either private or public in Myanmar. Private limited liability companies must have a minimum of two shareholders, and public limited liability companies must have a minimum of seven shareholders. There are currently no foreign public limited liability companies present in the country. Limited liability companies can be 100% foreign-invested.
There are basically two types of companies in Myanmar: A company who has received approval … [Read More...]
If you're looking to start a business in Myanmar you'll likely need to find some local staff. There are a few commonly used methods for hiring employees in Myanmar. The first and easiest is to simply ask current employees to recommend a friend, a cousin, or somebody from their neighborhood. This works surprisingly well as Myanmar is a pretty integrated society with many people finding jobs through personal connections.
If this method doesn't work, another commonly used method is to advertise … [Read More...]
The difficulty of doing business in Myanmar really depends on the sector you’re interested in. Foreign investors involved in the manufacturing sector say the hardest part about doing business in Myanmar is the poor infrastructure, especially electricity. It can be frustratingly difficult to manage an efficient factory with frequent power cuts and other infrastructure issues.
Entrepreneurs involved in other industries often cite cultural differences in work ethic as being a difficult part of … [Read More...]
There are two camps in the current government: those who want to encourage investment and open up the country, and those who want to protect local businesses against foreign dominance. The main driver of the former camp is the President's office, while the main driver of the latter is the parliament. The risk for foreign investors is that the protectionist camp eventually wins out and foreign investors are put at a disadvantage.
This was a major … [Read More...]
Businesses in Myanmar are subject to corporate income, personal income, commercial, and property taxes. A 25 percent corporate tax rate per annum is applied to all companies incorporated in Myanmar under the Myanmar Companies Act and Foreign Investment Law. A branch of a foreign company is taxed at a rate of 35 percent per annum because they are considered nonresident by Myanmar tax laws, while other types of companies are generally considered resident.
Currently no taxes are collected for … [Read More...]
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 … [Read More...]
Current law requires that all foreigners register at the address where they are staying once they’ve entered Myanmar. If you stay in a hotel, the hotel performs this task for you, but if you wish to stay on your own then this is something you will need to do yourself. You can get a Myanmar friend to help you register without actually going to the office yourself, but however it gets done, you should make sure you stay legal by registering.
In order to register you need to go to your local … [Read More...]