No minimum capital is required to register a legal entity in Myanmar.
What is the difference between a Commercial (for Profit) and a Non-Profit Organization?
A shareholder of a private company (for-Profit) can declare dividend and can share in the profit of the company. A member of a Non-Profit organization cannot declare dividend – all profits mush be plough back into the business to further it’s objective.
What is the minimum to start a Not-for-Profit company in Myanmar?
- Member – minimum of 1 member, can be a foreigner. Must stipulate what is the guarantee amount (in USD or Kyat) each member is willing to provide should the company be wound up and there is outstanding payment to creditors.
- Director – minimum of 1 director, must have a least 1 director who is ordinarily resident in Myanmar i.e. spend at least 183 out of 365 days in a fiscal year in Myanmar. The resident director can be a foreigner as long as he/she meets the criteria of ordinarily resident in Myanmar. The director and member can be one and the same person.
- Minimum Capital – not required.
- Business Activity– need to state the Object of the organization at registration
- A registered office address in Myanmar
Take note that what you are submitting below is a bare bone draft about the company you are proposing to incorporate. We will still come back to you to discuss about your requirements in more details before sending you a proposal for your approval.
We can incorporate your company in 3 working days once you have given us a copy of the passport (or NRC for Myanmar citizen) for all the shareholders and directors of the proposed company.