Myanmar companies have one week to confirm existence

Author: Lizzie Meager | Published: 7 Sep 2015

The Directorate of Investment and Company Administration (DICA) of Myanmar has required all registered companies to file a notice to confirm that they are still actively engaged in business.

DICA’s notice, issued late last month, gave companies just 19 days to inform the regulator of their existence to DICA. It states that if companies do not comply, 'DICA may take appropriate action in accordance with the Myanmar Companies Act 1914’.

But local market participants said DICA had communicated orally elsewhere that companies would be removed from the register altogether for failure to notify.

"There’s a little bit of confusion and uncertainty over the short timeline, and the exact basis on which...