Your business is tired and needs a holiday?
Want to get a 5 year tax holiday?
Incorporate in Myanmar and get one!
- Myanmar, formerly Burma, is a country in Southeast Asia, whose official name is the Federal Republic of Myanmar
- capital is Naypyidaw with over 50 million Inhabitants. Burma is significant that the vast majority of the population belongs to Buddhist religion
- Although in recent years the state system changed to a presidential republic, the election winning party is still closely linked to the military. There is a very high censorship. For example, only 1% of the population has access to the Internet, furthermore all internet pages are first approved by the government.
Myanmar and business.
- Opportunities for development and investments. Burma is currently is not a 100% developed country, and thus offers many interesting investment opportunities. The government is trying to attract foreign capital into the country, and so it offers for emerging companies a five-year tax holiday (the basic rate of income tax is 25%). Want to get a tax holiday?
- It is then possible to achieve further tax relief depending on the industry in which the company operates.
- A revision of the trade laws is highly important to reduce bureaucracy process while founding a company
- New consumer markets. Its geographical position is particularly useful for investors who want to enter into contact with a huge Indian and Chinese market. 2 biggest markets in the world.
- It is necessary to mention cheap labor could be hired in Burma, where the monthly salary of an unskilled employee is around USD 50th
- Myanmar allows non-residents 100% own and manage the resident company. So you can be a 100% owner of your company and no need to hire locals!
- The most commonly used legal form of a Limited Liability Company, which is similar to the Czech limited liability company.
- The company must have a minimum of two and a maximum of fifty shareholders, and at least two directors.
- This company may arise either under the Myanmar Companies Act (MCA) or under the Myanmar Foreign Investment Law (mfile). The advantage of the second variant is that it allows the use of tax incentives from the government.
- The registered capital of the company is US $ 500,000 for the production and US $ 300,000 for the provision of services. For companies registered under the MCA, such limits are set at US $ 150,000, respectively USD $50 000
- In recent years, a number of agreements on avoidance of double taxation with other countries were signed, Contracts With Singapore and Britain, if you are interested in their market.