Yangon Myanmar Location-Yangon Myanmar Location
Yangon Scott Hostel Location
198, 31 st - Upper Block, Pabedan Township, Downtown Yangon, the best location of the hostel, just two minutes walking distance from the renowned Scott Market (Bogyoke Market), ensures its visitors simple and comfortable entrance to the best of Yangon. On the following web sites you can book and make online payments: 198, Street - Upper Block, Pabedan Township, Downtown Yangon,
Myanmar - Luther Corporate Services Pte Ltd
Myanmar, formerly known as Burma, is often described as Asia's last major border state. In April 2013, the EU rescinded its penalties against Myanmar in reaction to a tragic set of reform efforts since the withdrawal of the Myanmar army and the establishment of a quasi-civilian administration in 2011.
The interest of Europe's businesses to buy and sell in Myanmar is growing. Burma has significant pristine reserves and a young and, above all, educated work force. Investment in the land has two main objectives: first, to meet the many immediate needs of Myanmar (e.g. infrastructures, energies, telecommunications) resulting from the country's economical insulation, and second, to pave the way for sustained development in the years to come.
Burma is currently revising its regulatory frameworks and gradually implementing legislation and rules necessary to encourage FDI. In this context, a landmark was the successor of the "old" Law on International Investment from 1988 by a new one in November 2012 (the "FIL"). Whilst the new FIL enhanced certain fiscal and long leasehold incentive schemes and other incentive schemes, it also placed limits and bans on certain types of investment in certain markets and certain types of commercial activity.
The Myanmar Investmentcommission ("MIC") is necessary for the FIL to grant approval to non-Fil. MIC takes into account certain factors (e.g. developing possibilities of obtaining jobs locally, transferring know-how, promoting and developing export, supporting and developing municipal infrastructures, developing a state-of-the-art and energy-efficient industry) of FDI when determining whether or not the FIL approves the project.
In general, it is possible to establish a 100% owned subsidiary in Myanmar, but as mentioned above, certain businesses and sectors are subject to limitations that require a certain proportion of ownership or even prohibition of any ownership from abroad. There are usually two possibilities for attracting international investment when setting up or registration a corporation in Myanmar:
a) Registering only under the Companies Act ("CA"), or b) Registering also under the FIL. Whilst FIL enrollment provides fiscal benefits, long-term leasehold opportunities and other benefits, the requirements to be fulfilled are higher in relation to the requisite equity base, the proportion of qualified employees employed locally (25% in the first two years, 50% in the second two years and 75% in the third two years) and other criterions to be fulfilled in comparison to CA-enrollments.
Industrial/productive work requires FIL registrations, whereas for service providers it is usually enough to just sign up with the CA. There are specific regulations for the establishment of jointventures with Myanmar's public authorities under the 1950 Act on the Establishment of SPAC. A GmbH, branches or representatives of a non-German corporation are the most important commercial structure for international investment.
Any other available types of transactions, such as general commercial enterprises or stock corporations, are hardly of relevance to international investment.