Myanmar's Directorate of Investment and Company Administration (DICA) has issued new documentation requirements for Myanmar-registered companies making changes to their shares or directors. Effective January 8, 2025, the DICA will only approve such changes when accompanied by specific supporting evidence as required under the Myanmar Companies Law 2017 (MCL).
Key Changes and Requirements
For share transfers, companies must submit the required application form, along with the following documents:
- Resolution from the company's board of directors approving the change of shares or share transfer.
- Copy of the share-transfer agreement signed by both parties, with proof of stamp duty payment.
For director changes, companies must submit the required application form, along with the following documents:
- Copy of new director's ID or passport.
- Shareholder resolution approving the change of the director(s).
- New director's consent to act (for appointments) or signed resignation (for departures)
In addition to announcing the new documentation requirements, the DICA also reminded companies of an April 2023 announcement that requires companies to submit certain other required documentation within two months of establishment to the DICA by email.
Next Steps
Companies planning share transfers or director changes must ensure they prepare the complete documentation package before submission to the DICA.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
