An investor planning to locate in the Thilawa Special Economic Zone needs to incorporate a new company at the Once Stop Service Center of the Thilawa SEZ. Even though such investor has an existing company incorporated at the Directorate of Investment and Companies Registration (DICA), incorporation of the new company at the Thilawa SEZ is necessary because tax exemption, incentives and privileges of the company located in the Thilawa SEZ may be different.
The application for the new company incorporation can be submitted online or to the One Stop Service Center of the Thilawa SEZ together with the application for investment permit. Although the company incorporation/Registration process takes maximum 2 days, the company Registration certificate is issued on the same day or the next day investment permit is issued.
A Business planning to locate in the Thilawa Special Economic Zone such as a branch or an office of a bank or insurance company, a shop, a restaurant, etc., which is not under the ambit of the Myanmar Special Economic Zone Law, is not necessary to incorporate a new company. However, business/office Registration needs to be done at the One Stop Service Center of the Thilawa SEZ. The registered business/office needs to adhere to conditions set out separately for each line of business.
Necessary procedures related to Company Registration are summarized as follows;
- An Investor which obtained an Investment Permit issued by Thilawa Special Economic Zone Management Committee (TSMC) shall apply for Company Registration to the DICA Section of OSSC through the Front Office of OSSC as soon after obtaining the Investment Permit. The Company Registration shall be done by the DICA Section in one (1) day.
- After receiving the Company Registration, the Investor shall submit stamped Memorandum (MOA) and Articles of Association (AOA) to the DICA Section of OSSC within five (5) working days.
- The Investor shall submit List of Directors mentioned the appointed the date of each director and Return of Allotment within one (1) month after the issue date of Company Registration.
- The Investor is required to hold the first general meeting within 18 months after incorporation of the company and hold annual general meeting in subsequent calendar years, at intervals of not more than 15 months. After holding the general meeting, the Investor shall submit the General Meeting Report to the DICA Section of OSSC.
- If the Investor wants to change their shareholders, FORM-MC1 (Application for Approval Change of Shareholders/ Increase of Paid-up Capital) shall be submitted to the TSMC. After obtaining the approval of the TSMC, the Investor makes a Report on the Change of Shareholders to the DICA Section of OSSC through the Front Office of OSSC within 15 days from the date of extraordinary and special resolution.
Detailed procedures regarding the company administration can be downloaded from the following link.