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Myanmar foreign investment law
Name: Myanmar foreign investment law
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(p) Investor means a Myanmar Citizen investor or foreign investor who invests within the Union in accordance with the Law. (q) Investment means any assets owned or controlled by the investor in accordance with this law. It shall also include investments stipulated under section Commission means the Myanmar Investment Commission formed under this Law ;. (c). Union Government means the Union Government of the. The new Myanmar Investment Law (“MIL”) has been enacted on 18 October However, by-laws implementing the new MIL have not been issued yet and as such the rules issued under the old Myanmar Foreign Investment Law continue to be in effect to the extent that they are not contrary to the new MIL. Previous investment laws in Myanmar were only applicable to Myanmar investors if they decided to obtain an investment approval from the Myanmar Investment Commission (MIC), encouraged to do so in order to obtain tax incentives and, in the case of foreign investors, the right to invest in the designated restricted. MYANMAR'S potential to become a regional investment hub would be realised only if the government manages to address major challenges businesses are.
Myanmar has reformed its investment commission recently and will soon enforce a new companies law in a bid to promote foreign investment. In , the Government of Myanmar introduced a new Foreign Investment Law. Know the benefits and requirements under the law in order to succeed in. The Directorate of Investment and Company Administration (DICA) draft of the Rules under the Myanmar Investment Law (MIL); and. 2. Myanmar's new Investment Law will come into force in the next financial year. Read about its implications for foreign investment in Myanmar. In April , Myanmar will begin implementing a new investment law designed to promote and facilitate both foreign and domestic investment.
The following types of investment businesses shall be stipulated as restricted investment: (a) investment businesses allowed to carry out only by the Union; (b) investment businesses that are not allowed to carry out by foreign investors; (c) investment businesses allowed only in the form of joint venture with any. Myanmar welcomes both domestics and foreign investment. Updated regulations , special economic zones, a reforming tax system and other. Myanmar Investment Law. Pursuant to the MIL, when doing business in Myanmar, foreign investors can benefit from significant tax exemptions and other benefits. To be eligible, the foreign company will need to apply to the Myanmar Investment Commission (MIC) for either an MIC Permit or alternatively (MIC Endorsement). The new MIL states that the government will accord foreign investors and investments made by foreign investors that is no less favourable than that accorded to Myanmar citizen investors except as stipulated in laws, rules and notifications. How will the new investment law make it easier for foreign investment? If you look at the new law there are actually two categories. One is MIC's permitted.