30 January 2019
The Myanmar Companies Law 2017 (“MCL”) was enacted in 2017 and came into effect on 1 August 2018, bringing about considerable change in terms of corporate governance and compliance for companies, representative offices and branches (“Entities”).
In conjunction with the coming into force of the MCL, the Directorate of Investment and Company Administration (“DICA”) launched Myanmar Companies Online (“MyCO”) on 1 August 2018, an online portal enabling Entities to now file forms and returns, incorporate new companies, and register overseas corporations online.
DICA requires that all Entities previously incorporated or registered under the Myanmar Companies Act 1914 or Special Company Act 1950 must now re-register on MyCo by 31 January 2019. Failing to re-register by 31 January 2019 may result in the Entity being struck off the register.
The Myanmar Companies Regulations 2018 prescribe the form and manner which an application to re-register must be made. It also sets out the information and documentation which must be provided in support of the application.