Myanmar authorities have indicated that they will speed up company registration by cancelling the “temporary permit” issuance. Up to now, companies in Myanmar are setup in two stages. In the first stage, the company is granted a temporary permit. Once the required portion of the company’s minimum capital is remitted, a final certificate is issued.
The Directorate of Company and Investment Administration (DICA), which oversees company registration, will now abolish the first stage. Companies will immediately receive their final documentation, which includes a Permit to Trade and a Certificate of Incorporation. The move is aimed at reducing the administrative burden connected with company establishment for both authorities and investors.
