Home > Resources > Myanmar Companies Law

Burma Companies Act (1914)

This Burma Companies Act was included in Volume IX of the Burma Code, which was a codification of laws from the period 1841-1954. This Act is divided into eleven parts (part 1: Preliminary (definitions); part 2: constitution and incorporation; part 3: share capital, registration of Unlimited Company as Limited, and Unlimited Liability of Directors; part 4: Management and Administration; part 5: Winding up; part 6: Registration Office and Fees; part 7: Application of Act to Companies formed and Registered under former Companies Acts; part 8: Companies authorized to register under this Act; part 9: Winding up of unregistered Companies; part 10: Companies established outside the Union of Burma; part 11: supplemental). On 1 August 2018, the Myanmar Companies Law 2017 came into force, repealing and replacing the Burma Companies Act 1914.

Key elements:

- Distinction between Myanmar-owned companies and foreign-owned companies, which also affected ownership, leasing and use of land and immovable property;
- Any foreign investor conducting business in Myanmar was required to obtain Form 1 (“Trade Permit”), which stipulated the approved business activities of the registered foreign company;
- Use of Memorandum and Articles of Association issued by DICA;
- The business objectives of a company had to be specified in the company’s Memorandum of Association and in the Trade Permit;
- A Limited Company had to have a minimum of two shareholders, whether natural persons or corporate entities;
- A minimum of two directors was necessary.