10 steps to incorporating in Myanmar
- Prior to Myanmar company incorporation, our Client i) settles Healy Consultants’ engagement fees ii) signs and returns our Client engagement letter and iii) provides us all the required due diligence documents;
- After recommending the optimum business entity and corporate structure for our Client, Healy Consultants drafts a detailed strategy document, mapping out weekly steps for completion of the engagement, optimizing transparency and setting Client expectations throughout the incorporation process in Myanmar;
- Healy Consultants conducts a name check at the Company Registration Office (CRO), under the Directorate of Investment and Company Administration (DICA);
- Depending on the company’s stated activities and investment plans in Myanmar, the entity will either have to be registered under the Companies Act (CA) or the Myanmar Foreign Investment Law (MFIL). If our Client chooses to register under the MFIL, Healy Consultants will apply for a permit from the Myanmar Investment Commission (MIC);
- Thereafter, Healy Consultants i) prepares incorporation documents for Client’s review and signature and ii) applies for a Permit to Trade with DICA;
- Healy Consultants will then register the company with the CRO;
- Healy Consultants’ banking team assists our Clients open a corporate account in Myanmar. Our Client will deposit i) at least US$50,000 if registered under the CA or ii) the minimum share capital as determined by the MIC, if registered under the MFIL;
- Healy Consultants will register our Client’s company for commercial tax with the Internal Revenue Department if they are engaged in the following activities: i) domestic manufacturing and distribution ii) importing iii) trading or iv) providing services;
- If required, Healy Consultants will assist our Clients to apply for visas and work permits for employees;
- Following Myanmar incorporation engagement completion, Healy Consultants couriers a full company kit, including original corporate documents, unopened bank correspondence and a Client feedback survey.
Frequently asked questions
What is the minimum number of shareholders required for business incorporation in Myanmar?To incorporate in Myanmar, our Clients will need at least 2 shareholders for an LLC.
What is the timeframe to complete company incorporation process in Myanmar?It takes on average 18 weeks to incorporate a company in Myanmar including i) engagement planning ii) company incorporation iii) corporate bank account approval and v) engagement completion.
What are Healy Consultants’ Myanmar company incorporation fees?The average total fees to incorporate a company in Myanmar is US$18,725 including i) incorporation ii) legal registered address iii) estimate of government fees iv) commercial tax registration and v) corporate bank account opening. Our Myanmar incorporation specialists will assist you at every step.