On 6th December 2017, the Myanmar Companies Law 2017 (“MCL”) was passed to replace the Myanmar Companies Act 1914 (“MCA”) in order to modernize the current legal structures of companies and enhance foreign investment in Myanmar. 1. Overseas Corporation “Overseas corporation” means a company incorporated outside Myanmar. In order to carry on business in Myanmar,… Read More
Rules on 3rd October 2017, the Myanmar Investment Commission (“MIC”) issued the Announcement on Appointment of Foreign Experts for transparency and simplification of the procedures for appointment of foreign experts in line with the Myanmar Investment Law 2016 (“MIL”). On 15th November 2017, the MIC also issued the Explanation on Appointment of Foreign Experts for… Read More
The Petroleum and Petroleum Products Law (the “PPPL”) 2017 was enacted by Pyaydaungsu Htuttaw as Pyaydaungsu Htuttaw Law No. 20/2017 on 1st August 2017 to repeal the Petroleum Act 1934. The PPPL contains the provisions on import and export, transportation, storage, refinery, distribution, inspection and testing of petroleum and petroleum products and issuance of relevant… Read More
The latest draft of the Myanmar’s Trademark Bill (“Bill”) was finally published in Myanmar newspapers from 8th – 10th August 2017 for the public hearing. The Bill is being reviewed by the Draft Law Committee of the Parliament before the approval by the Parliament and if it is approved by the Parliament, it will be… Read More
On 20th July 2017, the latest draft of the Myanmar Companies Law (the “Bill”) was submitted to the Amyotha Hluttaw (the Upper House of the Parliament). The Bill is designed to bring Myanmar companies law up to international standards and boost confidence of foreign investors. If approved, the Bill will repeal the outdated Companies Act 1914… Read More
On the 12th of June 2017, the Ministry of Commerce of Myanmar has issued Notification No. 36/2017 allowing foreign owned companies to import and trade fertilizers, seeds, pesticides, hospital equipment and construction materials as prescribed under the relevant WTO HS codes, subject to obtaining a permit to trade from the Directorate of Investment and Company… Read More