The Myanmar Companies Law 2017 (the "MCL") came into force on 1 August 2018. The Directorate of Investment and Company Administration ("DICA") held a ceremony to mark the effective date and the launch of Myanmar Companies Online ("MyCo"), a new online electronic registry system. The MCL modernises the regulatory framework governing how a company is run and governed, bringing it in line with current practices in other countries.
All existing companies and body corporates registered with DICA prior to 1 August 2018 must re-register within six months.
Please refer to our guide on the MCL (which includes a table setting out the key dates under the MCL).
The following notifications were also released as part of the commencement of the MCL:
• Notification No. 56/2018 Prescribed Forms Under the Myanmar Companies Law 2017
• Notification No. 57/2018 Prescribed Fees and Late Lodgement Fees under the Myanmar Companies Law 2017;
• Notification No. 59 /2018 Requirements for Public Companies;
• Notification No. 60 /2018 Prescribed Model Constitution under the Myanmar Companies Law 2017;
• Notification No. 63/2018 Prescribed extra fees for registry transactions carried out using non-electronic means; and
• Notification No. 66/2018 Myanmar Companies Regulations 2018.
DICA also released Company Directors Guide for directors of companies in Myanmar.