You asked: Can US companies do business in Myanmar?

U.S. embassies are committed to supporting U.S. companies to start exporting or grow their exports to Burma. In this section, you’ll find an quick description of Burma as an export market and some suggestions for getting started.

Can US companies trade with Myanmar?

U.S. Embassy Rangoon is committed to supporting American companies that are interested in starting or growing their exports to Burma. Exports of American products are generally permitted under existing law, with the exception of exports of defense articles and defense services destined for Burma.

Can a foreigner own a business in Myanmar?

The Myanmar representative office

Local regulations stipulate that foreign companies can open representative offices in Myanmar. While the representative office can be 100% foreign owned, it is not allowed to pursue production-related or commercial activities in Myanmar.

Are there any US sanctions on Myanmar?

Since December 2017, the United States has imposed visa restrictions under Section 7031(c) of the State Appropriations Act, as well as financial sanctions on Burmese officials in connection with abuses in northern Rakhine State, to include, in December 2019, the designation of Commander-in-Chief Senior General Min Aung …

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How do I register my foreign company in Myanmar?

Registration of Foreign Companies

  1. Check availability of company name. …
  2. Obtain company registration forms from DICA or through the DICA website. …
  3. Submit signed company registration documents to DICA. …
  4. Pay registration fee. …
  5. Obtain temporary registration and Permit to Trade (if desired)

What does the US import from Myanmar?

U.S. total imports of agricultural products from Burma totaled $18 million in 2020. Leading categories include: pulses ($8 million), baked goods, cereals, and pasta ($1 million), sugars, sweeteners, beverages bases ($1 million), processed fruit and vegetables ($756 thousand), and tree nuts ($645 thousand).

How much does the US trade with Myanmar?

2019 : U.S. trade in goods with Burma

Month Exports Imports
January 2019 22.9 46.0
February 2019 30.8 58.8
March 2019 23.7 63.0
April 2019 27.4 50.5

What business can I do in Myanmar?

Myanmar is rich in mineral resources as well as fertile lands. Therefore you can start agriculture or manufacturing and allied business in Myanmar.

25 Business Ideas in Myanmar

  • Mechanized Farming. …
  • Aquaculture. …
  • Food Processing. …
  • Agricultural Equipment Manufacturing. …
  • Furniture Making. …
  • Handicraft Store. …
  • Gems Trading.

Which business is best in Myanmar?

According to the campaign, the 2020 best corporate companies to work in Myanmar are

  • Grand Royal Group International Co. …
  • Maersk Myanmar.
  • Mascon International Business Services Co. Ltd.
  • Nestle Myanmar (Trading) Ltd.
  • Super Seven Stars Group.
  • uab bank Ltd.
  • Unilever EAC Myanmar Co. Ltd & Unilever Myanmar Ltd.
  • YOMA BANK Ltd.

What is private limited company in Myanmar?

A private company limited by shares is incorporated under the Myanmar Companies Law 2017 (CL). The CL is the main legislation governing incorporation, registration, corporate governance and reporting requirements of private companies. Winding-up of a private company is carried out under the Insolvency Law 2020.

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Does America recognize Myanmar?

Due to its particularly severe violations of religious freedom, the United States has designated Myanmar a Country of Particular Concern (CPC) under the International Religious Freedom Act.

Why Burma changed to Myanmar?

As for the country’s name, the commission decided to replace the English name “Burma” with “Myanmar”, for three reasons. First, Myanma is the official name of the country in the Burmese language, and the aim of the commission was to have English place names aligned with Burmese place names and pronunciation.

Is Burma a poor country?

The economy of Myanmar has a nominal GDP of USD $76.09 billion in 2019 and an estimated purchasing power adjusted GDP of USD $327.629 billion in 2017 according to the World Bank. … This would make Myanmar one of the poorest countries in Southeast Asia.

How many types of business are there in Myanmar?

Private Company Limited by Shares. Public Company Limited by Shares. Company Limited by Guarantee. Unlimited Company.

How do I register a company in Myanmar?

Registration of Myanmar Public Companies

  1. Check availability of company name at DICA. …
  2. Obtain company registration forms at DICA (or online) and pay stamp duty. …
  3. Submit signed company registration forms at DICA and pay registration fee. …
  4. Incorporation certificate. …
  5. Prepare for business commencement.