Legal Framework
From The Report: Myanmar 2019
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This chapter examines the legal system of Myanmar, focusing on the implementation of the Myanmar Companies Law and its online portal, the new Competition Commission and anti-corruption code, adjusted capital requirements for foreign firms and joint ventures and the increase in minimum wage in March 2018. It also contains a viewpoint from Cheah Swee Gim, Director, Kelvin Chia Yangon.

Articles from this Chapter

Overview

Increasing confidence: Another year of progress towards the goal of making Myanmar a regulated and attractive investment destination
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The long-overdue Myanmar Companies Law (MCL), which the government passed in December 2017, was put into practice in August 2018, together with the rollout of Myanmar Companies Online (MyCO) and the issuance of the Myanmar Companies Regulations. Among the most notable changes of the MCL are: • The reduction of the minimum number of shareholders from two to one, and directors from two to one, in the case of private companies; • The requirement of resident directors and/or resident authorised…

Viewpoint

Steady advancement: Cheah Swee Gim, Director, Kelvin Chia Yangon, on continuing efforts to improve the legal framework for businesses
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Viewpoint:Cheah Swee Gim After taking office in 2016, the National League for Democracy continues to work to improve the legal framework for facilitating business development in Myanmar. Now that the dust has settled from a series of changes, Myanmar has begun to try to effectively execute the reforms promulgated in past years. However, that is not to say that there were not significant changes made in Myanmar’s legal landscape in 2018. The long-awaited Myanmar Companies Law (MCL) came…