Recent Directorate of Investment and Company Administration’s Announcements

  • Announcement regarding the winding up/liquidation of the companies

Following the coming into effect of the Insolvency Law on 25th March 2020, DICA has issued an announcement on 19 November 2021 that insolvency proceedings and winding up of companies must be carried out under this law – as opposed to the Myanmar Companies Law.


  • Instructions to open corporate bank account

Due to past practices in which companies and organizations registered under the Myanmar Companies Law commonly operate bank accounts of the company’s director or member instead of such entity’s own corporate bank account, DICA's Directive No. 136/2021, issued on 22nd November 2021 requires that companies must open their own corporate bank account. This is to segregate separate financial matters of the company from its directors or members and would minimize the risk of a mix-up between the company’s financial matter from its directors or members.


OTHER NEWS

Summary of the Central Bank of Myanmar Announcements

Summary of the Central Bank of Myanmar Announcements

Draft Foreign Investment Rules 2017

Draft Foreign Investment Rules 2017

Electronic Transactions Act (3rd and 4th amendments) B.E.2562 (2019AD)

Electronic Transactions Act (3rd and 4th amendments) B.E.2562 (2019AD)

Summary of the Ministry of Commerce Newsletter 19/2021

Summary of the Ministry of Commerce Newsletter 19/2021

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