New Myanmar Companies Law Enacted

On 6 December 2017, the President of Myanmar signed the Myanmar Companies Bill into law. This new legislation heralds a number of significant changes to the existing century-old companies legislation. Although the law will only come into effect at a later date to be announced by the President, this briefing highlights several key changes that might be of interest to foreign investors with existing presence in the country or those seeking to venture into the Myanmar market. Certain changes such as reducing the minimum number of shareholders, abolishing the requirement to obtain a Permit to Trade and removing the authorised capital concept would no doubt reduce the administrative burden of foreign companies operating in the country.