Online company re-registration to kick off on August 1

Writer: 
Zeyar Nyein

 

As from August 1, all companies in Myanmar will have to carry out re-registration via online, said Aung Naing Oo, Secretary of Myanmar Investment Commission.

“Companies whose licenses have expired can carry out re-re-registration. But these companies need to pay Ks-250,000 for registration as new companies. There will be no fine payment,” he added.

New companies which want to carry out registration at Directorate of Investment and Companies Administration will have to pay a registration fee of Ks-300,000. The collection of an additional Ks-50,000 aims to encourage the online registration, he continued.

Registered companies no longer need to renew their licenses every five years. But entrepreneurs need to inform the DICA only when companies are abolished. Those who have to no desire to continue doing their businesses can abolish their companies.

Companies can make online re-registration round the clock, within six months from August 1 to January 31, 2019.