WashingtonRise Logo

Wholly Foreign LLC Partly Foreign LLC Free Zone Company PLC MIC Company Branch Office Rep Office
Local Name Foreign company Joint venture Special economic zone company Public Limited Company Myanmar Investment Commission company Branch Representative Office
Company Setup Time 40 days 40 days 40 days 40 days 40 days 40 days 40 days
Bank Account Opening 10 days 10 days 10 days 10 days 10 days 10 days 10 days
Government Grants Available Yes Yes Yes Yes Yes No No
Government Contracts Bidding Yes Yes Yes Yes Yes No No
Limited Liability Yes Yes Yes Yes Yes No No
Client Required to Travel No No No No No No No
Inquiry Inquiry Inquiry Inquiry Inquiry Inquiry Inquiry

Corporate Structure Explained

Myanmar Wholly Foreign LLC

  • This entity requires two shareholders and two directors. Wholly foreign limited liability companies must be approved by local administration. Shareholders can be individuals or corporations and do not need to reside in Myanmar. In the manufacturing and service industries, companies must pay a minimum share capital of USD 50,000 and USD 150,000 respectively.
  • Our clients establishing business in Myanmar can request local authorities for a foreign investment permit. The benefits include exemption from customs duties on raw materials and equipment, increased guarantees to remit earnings overseas, up to seven years of tax holidays, easier foreign currency access. The application requires foreigners to submit a business plan that includes details of the operation, capital amount to be paid, expected technology transfers and the number of jobs to be created.
  • After incorporation, the LLC must provide authorities with an annual return, an annual financial statement and a provisional quarterly payment for corporate tax.

Myanmar Public Limited Company (PLC)

  • The Myanmar PLC requires seven shareholders and two directors, and the company’s financial statements are subject to audit rules.
  • PLCs are not required to be listed on the Myanmar Securities Exchange.

Branch Office

  • A branch will have a corporate tax rate of 35% which is higher than the standard company tax rate of 25%.
  • The parent company has liability in case of losses. Branch offices can expand and diversify the parent company’s business. This type of legal entity is permitted to carry out commercial business activities.

Myanmar representative office

  • A representative office in Myanmar is 100 percent foreign-owned and is not allowed to conduct business directly. These entities are allowed to conduct market research and promotional activities for the parent company.

Fast Incorporations