All companies need to re-register starting from August 1
2018-06-29 16:36:05 / MTG
The President’s Office issued Notice 48/2018 last Thursday to announce that the new Myanmar Companies Law will go into force on August 1.
The new legislation, enacted in early December last year and spearheaded by the Directorate of Investment and Company Administration (DICA), is a landmark reform which allows domestic businesses to grow by seeking foreign capital and expertise via joint-ventures. It allows foreign entities to take up to a 35-percent stake in domestic companies and opens up the Yangon Stock Exchange for non-Myanmar customers.
Mariano Suarez, partner of Thanlwin Legal, told The Myanmar Times that, for starters, there are two issues all companies must be aware of: the re-registration and change of company documents, as well as the many new requirements and notifications rolling in.
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Source From: The Myanmar Times
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