6 July 2018
MYANMAR: Companies Face Mandatory Re-Registration Following August Business Portal Launch
When Myanmar Companies Online (MyCO), the country’s new digital business registration system, is launched on 1 August, existing businesses will be able to complete their mandatory registration free-of-charge, while new companies will have to pay Kyat 500,000 (US$371), although SMEs will be entitled to a 50% discount.
Once re-registered, businesses will receive new company incorporation certificates and will also be advised as to whether they need to submit a quarterly report to the Directorate of Investment and Company Administration (DICA). The MyCO launch has been scheduled to coincide with the formal adoption of the country’s Companies Law.