Category: Legal Box

Foreign bank licensing – third round

On 7th November 2019, the Central Bank of Myanmar (“CBM”), exercising the power conferred under section 184 of Financial Institution law 2016, issued the announcement for the third round of Foreign Bank Licensing tender to further liberalize the

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Announcement regarding overtime-working hours issued

The Myanmar Investment Commission (“MIC”) issued an announcement in relation to the overtime-working hours’ as per the Factory and General Labour Laws Inspection Department (“FGLLID”). The announcement was posted by DICA on October 3, 2019

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Amendment of fees for company incorporation and annual return filing

On 20 September 2019, the Ministry of Investment and Foreign Economic Relations issued Notification No. 84/2019 (the “Notification”), in connection with the prescribed fee inter alia towards company registration, annual filing fee, etc, as detail

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Foreign investors allowed to trade on Yangon Stock Exchange

In exercise of the power conferred under Section 71 (b) of Securities Exchange Law 2013, Securities and Exchange Commission of Myanmar (the “Commission”) issued the Notification No.1/2019 (the “Notification”) on 12 of July 2019. This Notifica

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Permitting Foreign Companies and JV Companies to export certain Local Products

The Ministry of Commerce issued Notification No.24/2019 (the “Notification”) on the 6th of June 2019, in exercise of the power conferred under Section 13 (b) of the Export and Import Law 2012. MOC has allowed foreign companies and JV companies to

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Notification on payment of proper stamp duty

Recently on 14 May, 2019, the Ministry of Planning and Finance as an awareness initiative, made an announcement in connection with the timeline for payment of proper stamp duty. The Ministry stated that every instrument must be stamped on or prior to

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