Share your needs with us, get contacted by law firms.
Free. Takes 2 min.
Yangon, Myanmar Attorneys in related practice areas.
Business law in Yangon, Myanmar is a rapidly evolving field that regulates the activities of corporations, small businesses, and entrepreneurs. It encompasses a wide range of laws involving contracts, taxation, intellectual property, and mergers and acquisitions, all intertwined with Myanmar's socio-economic parameters. Since Myanmar is transitioning into a market-oriented economy, regulations are undergoing major changes to foster a conducive business environment. Therefore, it's crucial to understand the nuances of Myanmar's business law before embarking on any venture.
Understanding the local laws and being compliant can be challenging due to their evolving nature. You may need a lawyer to avoid potential legal hurdles while setting up a business, dealing with contracts, taxation, regulatory compliances, or resolving business disputes. Legal experts are also essential during the incorporation of a company, restructuring, or addressing intellectual property issues. Thus, having a lawyer by your side can help you steer clear of violating any laws and protect your business interest effectively.
The Myanmar Companies Law 2017 (MCL) is a significant law in Myanmar's business sphere, which regulates the registration, operation, and management of companies. The MCL ensures more transparency and accountability in the business landscape. There's also the Myanmar Investment Law 2016, meant to attract foreign investments by providing guarantees and tax incentives. The Competition Law, 2015 prevents unfair competition and monopoly while Intellectual Property Law protects your business's original creations and innovations.
The process involves registering your company with the Directorate of Investment and Company Administration (DICA), getting necessary licenses, registering for taxes, and ensuring compliance with local laws.
Myanmar has enacted the Myanmar Intellectual Property Law 2019, providing comprehensive protection to intellectual property rights, including patents, trademarks, industrial designs, and copyrights.
The main forms are limited companies, joint ventures, partnerships, and sole proprietorships. The appropriate form depends on your business scope, size, and funding.
Yes. The Myanmar Investment Law 2016 provides various incentives and protections to foreign investors, including certain tax exemptions.
While foreign companies cannot directly own land in Myanmar, they can obtain long-term leases under certain conditions.
For comprehensive information, you can refer to bodies like the Directorate of Investment and Company Administration (DICA), The Union of Myanmar Federation Chamber of Commerce and Industry (UMFCCI) and directorate of Myanmar Intellectual Property Department. Each provides various resources and guides about doing business in Myanmar.
If you need legal assistance, you should engage a local law firm specializing in business law. Before the meeting, prepare your business details, your queries, and any legal documents if you have for discussion. Understanding the legal milieu of Yangon, Myanmar can be complex, but with due diligence and the right legal guidance, you can navigate the business landscape successfully.
