Adopts the new Myanmar Companies Act
06 Dec 2017
On 6 December 2017, the President approved the Myanmar's new Companies Act, replacing the country’s old Companies Act of 1914. The new Act aims to adopt international best practices related to company formation, business registration processes and corporate governance in Myanmar. Under the new Act, foreign investors will be allowed to hold up to 35 per cent of shares in a domestic company without the company losing its categorisation as 'local company'. Also, foreign investors will now be able to own up to 35 per cent of the shares in companies listed on the Yangon Stock Exchange. The new Act will come into force on 1 August 2018.
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Type:
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Entry and establishment (Ownership and control)
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Treatment and operation (Company laws and corporate governance)
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