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55 Market Street, Level 3 (Conference Room 1), Singapore 048941 (map)

No. of Public CPD Points:2.0 

Practice Area: Corporate/Commercial

Training Level: General

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ABOUT THIS SEMINAR

The new Myanmar Investment Law (“MIL”), passed in October 2016, unifies the previous Foreign Investment Law of 2012 (“FIL”) and the Myanmar Citizens Investment Law of 2013 (“MCIL”), and streamlines the steps necessary for foreign investment in Myanmar.  The MIL describes the functions of the Myanmar Investment Commission (“MIC”), which include granting permits (for major projects) and endorsements (tax incentives and land use rights).  It aims to solve the challenges of transparency and inconsistency which were persistent under the old regime.  Many of the details described in the MIL are set out in the Myanmar Investment Rules (which were formally issued in 2017).  This seminar will provide the practitioners’ experience of advising clients during the first few months under the new MIL.  

The new Myanmar Companies Law (“MCL”) is currently in draft form and being considered by the Parliament.  The MCL will replace the existing Myanmar Companies Act (“MCA”), which was passed in 1914 and was based on the India Companies Act 1913, which in turn was based on the UK Companies (Consolidation) Act of 1908. The MCL is expected to become law in late 2017.  The MCL will bring favourable changes by allowing increased foreign shareholding in Myanmar companies.  Now that the MIL Rules have been issued and once the MCL is passed a substantial increase in foreign investment into Myanmar seems likely.

This seminar aims to provide practitioners with an understanding of the legal and tax aspects of the new MIL and effect of the new definition of “foreign company” in Myanmar and other important amendments under the MCL.


SPEAKERS

Thomas Chan – Executive Director (Tax & Regulatory), KPMG Advisory (Myanmar) Ltd.
Tony Grundy – Of Counsel, MHM Singapore
Kana Manabe – Co-representative Partner, MHM Yangon

For more information, please click here for the brochure.