1. Introduction to Notification No. 84/2019: A Recap
Notification No. 84/2019, issued on 20 September 2019 by the Directorate of Investment and Company Administration (“DICA”), initially reduced the fees for various incorporation processes from 250,000 MMK to 150,000 MMK. This reduction applied to, including but not limited to, the incorporation of private companies limited by shares (Form A-1), companies limited by guarantee (Form A-3), unlimited companies (Form A-4), private companies limited by shares under the Special Company Act 1950 (Form A-6), and registration as overseas corporations (Form A-8).
2. New DICA Notification
On 26 March 2024, the DICA issued a new notification under the Myanmar Companies Law, primarily focusing on amending the fee structure set forth in Notification No. 84/2019. This adjustment increases the previously reduced fees of 150,000 MMK to 300,000 MMK for Forms A-1, A-3, A-4, A-6, and A-8. The amendment will be effective on 1 April 2024.
New Updates from the Myanmar Investment Commission
On 29 March 2024, the Myanmar Investment Commission (“MIC”) amended the service fees applicable to investors as per Section 26 of the Myanmar Investment Law and Rule 214 of the Myanmar Investment Rules, effective from 1 April 2024. The revised fee structure is outlined below:
At DFDL, we’re here to help you understand and navigate recent changes in Myanmar’s investment and company administration regulations. With updates from the DICA and MIC, including amendments to Notification No. 84/2019 and revised fee structures, it’s essential to stay informed and compliant. Our team is ready to assist you in understanding these changes, ensuring your business meets legal requirements, and providing guidance for your investment decisions in Myanmar.
The information provided here is for information purposes only and is not intended to constitute legal advice. Legal advice should be obtained from qualified legal counsel for all specific situations.
