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MIC Permit & Permit to Trade for Foreign Companies


Myanmar Investment Commission (MIC) Permit & Myanmar Company Registration


MiTA provides one stop consulting services in Myanmar for MIC Permit application to be submitted for approval of Myanmar Investment Commission (MIC) and Company Registration in Myanmar with Directorate of Investment and Company Administration (DICA).


In the preparatory stage, prior to MIC permit application and Myanmar company registration, we conduct due diligence, market research and Myanmar local partner search-selection. MiTA in Myanmar also prepare initial environmental examination (IEE) report, environmental impact assessment (EIA) report, and social impact assessment (SIA) report. For details of our services please visit SERVICES page.


A foreign company, whether a 100% owned, joint-venture or a branch/representative office, is required (with certain exceptions viz. JVs with Govt. organizations, etc) to obtain a Permit to Trade Certificate before registration, under the Myanmar Companies Act. To obtain permit to trade, foreign company must bring capital into Myanmar in foreign currency and there is a specified minimum capital requirement for each category: Industrial Company, Trading Company, and Service Company.


There is also a minimum amount of foreign capital required to be eligible under the Foreign Investment Law (FIL) to get Myanmar Investment Commission(MIC) permit for an industry and service organization; this permit grants certain state / sovereign protection of investment in Myanmar.


MIC Permit for Investment in Myanmar


The Myanmar Investment Commission had stipulated the categories of business which need to get the prior approval from the Ministry of Environmental conservation forestry before submission of application to MIC by issuing the notification No 1/2013 dated on January 31 2013. This notification is now under the process of amendment.


Local Myanmar companies and foreign companies / investors need to conduct Initial Environmental Examination (IEE), Environmental Impact Assessment (EIA) , Social Impact Assessment (SIA) studies and prepare reports before applying for MIC permit. Along with MIC permit application, IEE, EIA and SIA reports to be submitted to Myanmar Investment Commission for any new projects in Myanmar.


Natural resources based investment businesses and investment under the State Owned Economic Enterprises Law, shall be submitted the investment proposal through the concerned Union Ministries. Other investment proposals shall be submitted directly to the Myanmar Investment Commission office by the investor or promoter.


Therefore if the investor wants to make mining business and oil and gas business, the investor shall make initial discussion with respective Ministries. After getting necessary agreement with respective ministries, the investor shall submit proposal through the relevant Union Ministries.


The Commission Office shall scrutinize after receiving the proposal whether the stipulated facts are completed in accord with the requirements and accept the complete proposal. If the investment proposal is not completed, the investor or promoter shall be requested to resubmit by completing the requirements.


In case the application and proposal for MIC permit is found complete with all required documents, the Investment Proposal Assessment Team (PAT) shall invite the investor or promoter or the authorized person on behalf of the investor to attend the meeting with PAT. During this meeting, PAT will decide whether the proposal is acceptable. The acceptable proposal shall be submitted to the Myanmar Investment Commission for further review and consideration.


After the Investment Proposal Assessment Team PAT accepted the proposal, the Myanmar Investment Commission office will send request letters to the relevant Ministries and Regional Governments for the recommendation or advisory remarks on the investment proposal in accordance with the nature of business. The concerned Ministries have to reply their recommendations within (7) days to the MIC office from the date of request letter was received.


After receiving the relevant recommendations and assessment, the MIC office shall submit the proposal to the upcoming nearest MIC meeting. The investor will be invited to attend MIC meeting. After careful review, the Commission shall issue investment permit according to the Foreign Investment Law. The process to obtain MIC permit shall take about 45 days.


The investor or promoter need to apply license or permit or registration from the relevant Ministries, government departments in accordance with the requirement depended on the nature of the business. For example, for Hotel project, the investor has to apply Hotel license to Ministry of Hotels and Tourism, For Travels & Tours Company, the investor has to apply Tours License to Ministry of Hotels and Tourism, For Mining project, the investor has to apply Mining permit to Ministry of Mines. For Oil & Gas Exploration projects, the investor has to get exploration license from Ministry of Energy.


We provide one-stop consulting services in Myanmar across all major industries: • Oil and GasPowerRenewable EnergyMiningTelecommunicationInformation Technology & IT Enabled Services Real EstateInfrastructureAgricultureMedical & Health CareManufacturingSMEEnvironmental Engineering and Waste ManagementFisheries and AquacultureGarments and ApparelHandicrafts and AntiqueBanking Finance and Insurance. For details of our services please visit SERVICES page.


To promote investment in Myanmar, we are planning to organize investment and business conferences and exhibitions in Myanmar.

MiTA Myanmar Investment Conferences & Exhibitions

 

Corporate Social Responsibilities

MiTA Services is committed to Green Environment, Sustainable Development and Value Creation for the Ecological Society where man coexists with nature. MiTA Services commits to use minimal papers in office work to save the trees and encourages everybody using electronic media as much as feasible. MiTA's research, engineering design and management practice will follow green business philosophy.