Feb 25, 2013

Ministry eases company registration procedures

The National Planning and Economic Development Ministry has eased some procedures for company registration, according to the announcement issued on February 22.

The Directorate of Investment and Company Administration (DICA) under the ministry allows companies to register without categorizing business types. But the companies still need to address business concept in the record of organizational setup.

Previously, DICA allowed companies to register under eight different business sectors. The businesses are trading, services, manufacturing, hotel, tourism, gems and jewelry, construction and banking.

Banking registration will be carried out under Myanmar Financial Institution Law Section 3 (A) and Myanmar Companies Act Chapter 10 (A) Section 277.

The term of a company has been increased from 3 years to 5 years.

Source: Eleven Weekly Media


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Unknown said...

This is a very nice and informative post. This is a good news for all the business that the government has eased the registration procedure. As the company's registration is a important step and is now easy also.

Life is Beautiful said...

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