76,000 companies officially registered according to DICA

76,000 companies officially registered according to DICA

The Directorate of Investment and Company Administration, DICA, has announced that it has recorded over 76,000 companies registrations on its MyCO platform since its launch last year. With the aim of making companies registration a fully online proce
DICA reduces registration fees for new companies

New companies registration fees reduced

New companies will now pay less to register in Myanmar. The Directorate of Investment and Company Administration (DICA) announced that registration fees will drop from MMK 250,000 to MMK 100,000 beginning October 1, which is the start of the 2019-202
Amendment of fees for company incorporation and annual return filing

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
Impact of Rakhine crisis exceeded expectation

Govt underestimated economic impact of Rakhine crisis: Official

A Myanmar official has admitted that the government underestimated the impact the crisis in Rakhine State has had on the country’s economy. Speaking at an investor forum in Singapore, U Aung Naing Oo, director general of the Directorate of Investme
New Myanmar Companies Law Now in Force

New Myanmar Companies Law Now in Force

The new Myanmar Companies Law 2017 (Pyidaungsu Hluttaw Law No.29) (“MCL”) passed on 6 December 2017, and implemented on 1 August 2018, replaces the century old Myanmar Company Act 1914 (“MCA”). The MCL modernizes Myanmar’s corporate framewo
Myanmar Companies Law

New Companies Law comes into effect

Myanmar’s new Companies Law has come into effect on August 1, aimed at boosting foreign direct investment in the country. Under the new law, all companies must re-register within six months through the Myanmar Companies Online (MyCO) system on http