To register a business in Myanmar

Hi markyap!

Your post has been moved to the Myanmar forum.

Thanks for helping

Armand

Looking for investmentin hospitality ie. guest house etc...
paul@abgymsport.com

If I can't reply to your post or reply. I be glad to receive your email to my personal email address at markyapsc@singnet.com.sg

very quickly I have enquiry from Spain and US nationals
I have a old friend in Myanmar from UK. He has been there ever since 1986, as told.
We can always work things out.
Latest interest was in Representative office in Myanmar for products and intention to invest in tourism and Guest house

Hi,

I think it is a good time to invest in guest house or hotel business in Myanmar as the tourism is booming at the moment and Myanmar will be one of the hot destination in future.


If you would need any info pls let me know.


Regards,

Phyo

balisky wrote:

Looking for investmentin hospitality ie. guest house etc...
paul@abgymsport.com

yes still room for opportunity in tourism

I have several questions.
Is that $60,000 for service type business required even if I just want to start a small representative office there?

Also, I've heard about the new investment law that will allow foreign company to solely own a business there? Is it out yet?

Is already out...
You see, if you intend to do business as a foreigner who owns the business, you got to have license
What type of license? property development, manufacturing? or service related?
Each license is a Monetary requirement
lets say you intend to do service business; you should prepare to bring in US$30000 to start off you business. It can be invested into your business there. The government just need to be sure the accountability
One year later, they want to see you have invested $30,000 into the business
(it can be into the business -for you to proof. It can be into the state bank- for you to show)

I hope you understand now.

Thankyou for your fast reply Markyap!

Do you work as a business consultant in Yangon?

i dont really call myself a business consultant in Yangon
I have lawyer friend in Myanmar who help business start up
I was a business development manager for a stock broking firm in Singapore. Which I have exposure to investors

Hi there, I am looking at starting up a business in Myanmar, I just have a question for you, how can I transfer funds into Myanmar if I want to set up a business?

Kasikorn bank in Thailand can transfer fund to Myanmar.
Maximum is 3,000USD per day

Ok thanks, but I would like to know how I can bring capital($60,000) into the country.

Hi Mark,
I read from this site interactivemyanmar.com/myanmar-company-registration-step-by-step/ saying that for manufacturing business is US$500,000.  Is there any discrepancy?

Would appreciate if you can share your lawyer friend's contact.  Thanks.

many mistakes in your legal information - it shouldn't occur, I think you should ask competent organisations that made possible investments in Myanmar from 10 years already, I have registered 2 businesses and it wasn't like you said, if some people really want to set up business in Myanmar, eventually I can tell you which company registered businesses for me, but only private message to me, not in public forum as I have no business in sharing it to everyone

Xer.Lau wrote:

Hi Mark,
I read from this site interactivemyanmar.com/myanmar-company-registration-step-by-step/ saying that for manufacturing business is US$500,000.  Is there any discrepancy?

Would appreciate if you can share your lawyer friend's contact.  Thanks.

Hi Xer Lau,

This minimum requirement is for a manufacturing company registered through the MIC. The alternative, if applicable for your specific business, is to incorporate under the MCA. For the MCA the minimum investment amount required is 50,000USD, but only half of it has to be invested in the company upon the approval of your incorporation application.

[Moderated: No free ad on the forum please]

Kind Regards
Chris

to cfalchen - MANY mistakes once again - how you can advice so? advice using good company, that is not real what is on the site you have provided and no one serious would use it, because it will only bring problems and PROBLEMS. Understand what I say?

Dear Terryjuly,

What is it you feel is wrong?
Please keep in mind that there are different requirements from foreigners and locals. You might be confusing the requirements for a foreigner from a local.
Please also keep in mind that the MFIL that just passed through lower parliament is still not in effect.

Kind Regards
Chris

Hi markyap!
You have told that $200000 is for business who wants to set up manufacturing business and $60000 is for business who wish to offer service related businesses. What's about for business related to selling product by import from other countries? How much capital will be required for set up this business?
I hope to hear from you soon.

Kind Regards
Sophal Om

I can't paste the YouTube link here for some reasons.
Search in YouTube for this video "Myanmar Company Incorporation - What you need to know"

Explains in layman language the options for registering a company in Myanmar and what are the JV considerations when looking for a business partner as well as the 5 key questions to ask yourself . Go to consult-myanmar (dot) com the producer of the video for more info - if you can't find the above video.

I have heard that Hong Kong companies have no taxation. Is that true?

Hi,
Can I register company in Myanmar before physically move there. If not, how long do I need to be there for whole process?
Thanks.

You need to be in Yangon for about 3 days for the initial registration. After that there is a 2 months wait for your company licence to be approved. There is no need for you to be physically presence after you have submitted your signed application.

thanks Joseeto

hi,
I am considering of having a Representative Office in myanmar, do you have any idea of how much for the process? I've already contacted some but their fees are around US $1500- $1800, is there other cheaper service?
Thanks

If you DIY, you will save money. Otherwise pay them and get it done.