Reduced Government Fees for Investors
The Directorate of Investment and Company Administration (DICA) released Notification No. 84/2019 on 20th September 2019 effectively amending fees on registrations under the Myanmar Companies Law 2017. This Notification came into effect on 1st October 2019 and essentially reduces corporate registration fees to be paid to DICA.
Prior to 1st June 2016, registration fees for the incorporation of all types of companies were set at the same rate at MMK 1,000,000 and from thereon risen to MMK 2,500,000 for public companies while for private companies, the fee was reduced to MMK 500,000.
Thereafter on 1st August 2018, by Notification No. 57/2018, DICA reduced registration fee for incorporation of a private company from MMK 500,000 down to MMK 250,000 but for public companies, it was not changed.
With this recent Notification , since 1st October 2019, DICA brought down registration fees for the incorporation of a private company, whether limited by shares or guarantee or under the Special Company Act 1950 or an overseas corporation, from MMK 250,000 to MMK 150,000 helping to facilitate investors in setting up companies in Myanmar.