Myanmar Company Registration Services
Strategically located between China and India, Myanmar is a country rich in natural resources. Despite being a country that is still developing, opportunities are still available for the entrepreneur that is seeking to do business in Myanmar with several international companies already setting up a base in the country.
Why Should Foreign Entrepreneurs Consider Registering a Company in Myanmar?
With a growth record of 7.7% GDP in 2014, Myanmar is one of the fastest growing markets in Southeast Asia, thanks in part to the strategic positioning of the country and the growth rate is expected to continue the upward trend.
If you’re an investor keen on setting up a company focusing on manufacturing or importing products in Myanmar, you’re in luck because there is a huge demand for it.
In addition, the country’s strategic position is also something of an advantage to entrepreneurs. Because it is so close to China (one of the biggest economic markets in the world) and India, there is a window of opportunity in place for potential trade to be done with those two neighbouring countries, thereby expanding the business even further.
Should I Enlist the Help of Myanmar Company Registration Services Professionals?
Yes, you should. Despite the Myanmar government establishing a one-stop shop in an effort to limit the amount of red tape that is a hindrance to setting up a company in Myanmar, there are still many restrictions that apply to foreign investors.
It is becoming easier to establish a company in Myanmar, but there is still some work to be done. Working with a Myanmar company registration services professional who is equipped with the local market knowledge and experience in establishing companies will be extremely useful in situations like this so entrepreneurs can establish their companies as quickly and efficiently as possible.
Registering a company in Myanmar is an expensive and time consuming process, and without the help of the company registration services professionals, an entrepreneur could end up spending more than they should in the even that errors happen during the company set-up process.
Company Registration in Myanmar – Overview
The time taken to incorporate a company in Myanmar is approximately 12 weeks, and an entrepreneur would require a minimum capital of US$50,000 to get started. While a physical office space is not a requirement, it is ok to have one if you do. Having an office space may not be the biggest concern because one of the downsides to operating a business in Myanmar is that it could take up to four months to connect the company to electricity when it is available. And even then, frequent power outages are a common occurrence.
A company that is being incorporated in Myanmar would require a minimum of two shareholders and two directors in place. No resident director is required for the establishment of the company, but a company secretary will need to be appointed as part of the set-up process.
The most common type of business structure selected in Myanmar is a limited company. Entrepreneurs should note that the corporate tax rate in Myanmar is 25% and the corporate tax base is worldwide.
We have the panel of expertise that your business needs to ensure the Myanmar company registration process is a smooth sailing one. For more information, contact us today.