Post-Permit Activities

Investment / Capital

Change in total investment

If investors want to increase the investment amount of the business, they need to address to the chairman of the Myanmar Investment Commission attached with the following documents:

Cover letter (including reasons for increasing the investment, original investment amount, increase investment amount and total investment amount)
Board of Directors' resolution (Original)
If investors want to import machineries and equipment when increasing the investment, they need to attach a list of machineries and equipment

(If investors want to decrease total investment, balance of machineries list need to be attached )
Investment plan to be attached (Revised)
Amount of Capital that has already invested (with table)
Copy of loan agreement draft with repayment schedule (If investors want to increase the investment with loan)
Power of Attorney (if investors cannot come to office)
Copy of updated quarterly performance report – form 10 (for those who has not provided yet)

Expansion of business (type of business)

If investors want to expand type of business, they need to address to the chairman of the Myanmar Investment Commission attached with the following documents:

Cover Letter ( describe the reasons for the expanding business )
Board of Directors' resolution
Investment amount increase or not
List of Machineries to be imported
List of increased product, raw materials, employee list and invested area
Loan agreement if the investment amount is increased by getting loan (Draft is acceptable)
Balance of machineries
Power of attorney (if investor cannot come to office)

Copy of up to date Quarterly Performance Report (no need to submit it again if already submitted)

(The expansion of the volume of investment is allowed only after 80% of the originally proposed investment has been made.)

Cost of amending permit: MMK 100000

Approval for loan

If investors want to get a loan, they need to address to the chairman of the Myanmar Investment Commission attached with the following documents:

Cover letter (describe the specific reasons)
Board of Directors' resolution (Original)
Loan agreement (attached with the repayment schedule)
Investment plan to be attached (Revised)
Power of Attorney (if investors cannot come to office)
Copy of updated quarterly performance report – form 10 (for those who has not provided yet)

Amendment of loan

If investors want to Amend of loan amount, lender and repayment schedule, they need to address to the chairman of the Myanmar Investment Commission attached with the following documents:

Cover letter (describe the specific reasons)
Board of Directors' resolution
List of amendment of Loan (amount, borrower, repayment schedule)
Amendment of Loan Agreement with repayment schedule (Draft is acceptable)
Power of Attorney (if investor cannot come to office)
Copy of updated quarterly performance report – form 10 (for those who has not provided yet)

Share transfer (fully or partly)

If investors want to transfer shares above 50%, they need to address to the chairman of the Myanmar Investment Commission attached with the following documents:

Cover letter (describe the specific reasons)
Board of Directors' resolution (Original)
Company Extract
Form 8 (attached required documents)
Share Transfer Agreement (Draft is acceptable)
Recommendation letter for the clearance of taxes (including commitment letter for capital gain tax if necessary)
Power of Attorney (if investors cannot come to office)
Copy of updated quarterly performance report – form 10 (for those who has not provided yet)
Undertaking Letter for rule 191,192,193

Reinvestment of profits

If investors want to reinvest their profits, they need to address to the chairman of the Myanmar Investment Commission attached with the following documents:

Cover letter (Mention budget year to reinvest profit)
Board of Directors' resolution (Original)
Form 6 (if investors want to apply income tax exemption according to MIL section 78)
Audit report
Recommendation letter for the clearance of taxes
Power of Attorney (if investors cannot come to office)
Copy of updated quarterly performance report – form 10 (for those who has not provided yet)

Transference of foreign currency (transfer of shares, dividend, profit share repatriation)

If investors want to transfer the foreign currency (transfer of shares, dividend and profit share repatriation), they need to address to the chairman of the Myanmar Investment Commission attached with the following documents:

Cover letter (describe the specific reasons)
Board of Directors' resolution (Original)
Audit Report
Bank Statement
Form 13 (form for transfer of foreign currency)
Recommendation letter for the clearance of taxes
Power of Attorney (if investors cannot come to office)
Copy of updated quarterly performance report – form 10 (for those who has not provided yet)

Mortgage of land and buildings permitted for investment

If investors want their mortgage of land and building permitted for investment, they need to address to the chairman of the Myanmar Investment Commission attached with the following documents:

Cover letter (describe the specific reasons)
Board of Directors' resolution (Original)
Mortgage agreement (draft) (to enclose recommendation of Ministry of Legal Affairs for government Organization)
Approval letter from relevant ministry (If the land ownership is government)
Power of Attorney (if investors cannot come to office)
Copy of updated quarterly performance report – form 10 (for those who has not provided yet)

Business Operation

Import of machinery and equipment

If investors want to import machinery, equipment, instruments, machinery components, spare parts or materials used in the business, they need to address to the chairman of the Myanmar Investment Commission attached with the following documents:

Cover letter
Pro forma invoice
Sales contract
Recommendation form related Ministry (If necessary)
Balance of Machinery and Equipment
Copy of original proposal (only the page which includes the list of machinery, equipment, instruments, machinery components, spare parts and materials used in the business relevant for this request)
Power of attorney (if investors cannot come to office)
Copy of up to date Quarterly Performance Report(no need to submit it again if already submitted)

Import of raw materials

If investors want to import machinery, Instruments, machinery components, spare parts of materials used in the business, they need to address to the chairman of the Myanmar Investment Commission attached with the following documents;

Cover letter
Proforma Invoice
Commission letter
Recommendation form related Ministry (if necessary)
Balance Sheet
Power of Attorney (if investors cannot come to office)
Copy of updated Quarterly performance Report (for those who has not provided yet)

Export Product Mention

If investors want to export product mention in their proposal, they need to address to the chairman of the Myanmar Investment Commission attached with the following documents;

Cover letter
Proforma Invoice
Proposal imported List
Recommendation form related Ministry (if necessary)
Balance Sheet
Power of Attorney (if investors cannot come to office)
Copy of updated Quarterly performance Report (for those who has not provided yet)

Issue confirmation for commencement date of business operation

If investors want to report the date of the commencement of business operation, they need to address to the chairman of the Myanmar Investment Commission attached with the following documents:

Cover letter (Completely written application )
Form 14 (Submission of commercial operation Date)
Form -6 (If the permit / Endorsement is obtained under the Myanmar Investment Law ) and payment received
Copy of Credit Advice or bank statement
BOD Resolution
Export Declaration (ED) or similar documents used in international trade for the export of manufacturing business, Local Sale receipt, Evidence of income received ( License , Permit and approval of Relevant ministries ( eg Hotel Licenses, logging Licenses, Private Industrial Licenses)
Permitted machinery List , Imported machinery List, Remaining List to be imported.
Power of Attorney ( Name, NRC, Signature, phone no) (if investors cannot come to office)

Extension of construction period

If investors requests for extension of construction period, they need to address to the chairman of the Myanmar Investment Commission attached with the following documents

Cover letter (describe the specific reasons)
Progress in Construction or Renovation with percentage and Photos
Imported Machinery List and Balance ( mention with MIC approval Letter No.)
Power of Attorney ( Name, NRC, Signature, phone no) (if investors cannot come to office)

Extend land lease agreement and MIC Permit duration

If investors want to extend land lease agreement, the duration of investment of the business and duration of MIC's Permit, they need to address to the chairman of the Myanmar Investment Commission attached with the following documents:

Cover letter (describe the specific reasons)
Board of Directors' resolution (Original)
Approval letter from relevant ministries (If the land ownership is government)
Land Lease Agreement (Original)
Land Lease Agreement (Revised) (If the land ownership is government, to enclose recommendation of Ministry of Legal Affairs) (Draft is acceptable)
Power of Attorney (if investors cannot come to office)
Copy of updated quarterly performance report – form 10 (for those who has not provided yet)

Appointment of expatriate for stay permit

If investors want to appointment of expatriate, they need to address to the chairman of the Myanmar Investment Commission attached with the following document: Required documents for attachment

Application letter (including name, passport number, position, duration, qualification)
Form ( 12-A ) (application form for the permission of work)
Invoice for the service fee MMK 5000 for the appointment of each foreignerCopy of passport
Number of proposed employees (local, foreign)
Number of existing employees (local, foreign) including each employee name, expertise level and position)
Copy of latest quarterly performance report of the company
Foreigner’s name, passport number, evidence of expertise (diploma) or degree and CV form
Power of Attorney (if investors cannot come to office, including name, national registration certificate number and phone number)
The request for the appointment of foreign experts must be made within 7 working days after the date of arrival of such foreign experts.

Liquidation of business

If investors want to liquidate the business, they need to address to the chairman of the Myanmar Investment Commission attached with the following documents:

Cover Letter (reasons for liquidation)
Board of Directors' resolution
Capital amount have been invested
Recommendation letter for the clearance of taxes
Power of Attorney (if investors cannot come to office)
Copy of up to date Quarterly Performance Report(no need to submit it again if already submitted)

Application for a certified true copy of MIC Permit

If investors want to apply for a certified true copy of their MIC permit, they need to address to the chairman of the Myanmar Investment Commission attached with the following documents:

Cover Letter (reasons)
Board of Directors' resolution
Advertisement on Newspaper
Recommendation letters from relevant police station
Power of Attorney (if investors cannot come to office)
Copy of up to date Quarterly Performance Report(no need to submit it again if already submitted)

Cost: MMK 750000

Import machinery, Instruments, machinery components, spare parts of materials used in the business with tax exemption

If investors want to import machinery, Instruments, machinery components, spare parts of materials used in the business with tax exemption, they need to address to the chairman of the Myanmar Investment Commission attached with the following documents;

Cover Letter
Form (6) (To pay the service fee according to the capital)
Imported Machinery List
Power of Attorney (if investors cannot come to office)
Copy of updated Quarterly performance Report (for those who has not provided yet)

Pages

MIC Permit Amendments

Amendment of Permit: Change name of Company

If investors want to change the name of company ,they need to address to the chairman of the Myanmar Investment Commission attached with the following documents: Required documents for attachment

Cover letter (reasons) (attach Company Registration Certificate which already changed in MyCO)
Board of Directors' resolution
Power of Attorney (if investors cannot come to office)
Copy of updated quarterly performance report – form 10 (for those who has not provided yet)

Amendment of Permit: Change of address

If investors want to amendment of permit in changing of address, they need to address to the chairman of the Myanmar Investment Commission attached with the following documents:

Cover letter (describe the specific reasons)
Board of Directors' resolution (Original)
Map (concerned original and applied area)
Land lease Agreement for permitted area (if it is already signed and duration is applicable, termination agreement will be needed)
Land lease Agreement for applied area (Draft is acceptable)
Land grant for applied area
Power of Attorney (if investor cannot come to office)
Copy of updated quarterly performance report – form 10 (for those who has not provided yet)

Amendment of Permit: Change of permitted duration of investment

If investors want to extend land lease agreement, the duration of investment of the business and duration of MIC's Permit, they need to address to the chairman of the Myanmar Investment Commission attached with the following documents:

Cover Letter (reasons)
Board of Directors' resolution (or) recommendation letter from relevant ministries
Power of Attorney (if investors cannot come to office)
Copy of latest Quarterly Performance Report(no need to submit it again if already submitted)

Cost of amending permit: MMK 100000

Amendment of Permit: Change type of investment

If investors want to change the type of investment (from Citizen Investment to Foreign investment or from Foreign investment to Citizen Investment), they need to address to the chairman of the Myanmar Investment Commission attached with the following documents:

Cover letter (describe the specific reasons)
Board of Directors’ Resolution (Original)
Recommendation letter for the clearance of taxes
Documents required for share transfer process (If Share transfer process is involved in the change of type of investment)
Amendment of JV agreement (Draft is acceptable) (If type of investment change from Wholly Foreign/Myanmar change to JV)
Power of Attorney (if investor cannot come to office)
Copy of updated quarterly performance report – form 10 (for those who has not provided yet)

Amendment of Permit: Change of company name

If investors want to change the name of business, they need to address to the chairman of the Myanmar Investment Commission attached with the following documents:

Cover Letter (reasons for name change)
Board of Directors' resolution
Copy of MIC permit
Power of Attorney (if investors cannot come to office)
Copy of latest Quarterly Performance Report(no need to submit it again if already submitted)

Cost of amending permit: MMK 100000

Amendment of Permit: Change type of business

If investors want to change the type of business, they need to address to the chairman of the Myanmar Investment Commission attached with the following document: Required documents for attachment

Cover Letter (reasons)
Board of Directors’ resolution
Power of Attorney (if investor cannot come to office)
List of Machineries to be imported
List of amended products, raw materials
Balance of machineries
Investment amount increase or not
ISIC code of original business and exten or amend business
Copy of updated quarterly performance report – form 10 (for those who has not provided yet)

Amendment of contracts

The following documents are necessaries on application for the permission of amendment of Land and Building Lease Agreement, BOT Agreement, 100% Foreign Agreement, Joint Venture Agreement and need to attend to the Chairman of MIC;

Cover Letter
Letter from relevant Ministry
Board of Directors' resolution
Amendment of Agreement (Draft is acceptable)
Recommendation letter for the clearance of taxes
Power of Attorney (if investor cannot come to office)

Copy of latest Quarterly Performance Report(no need to submit it again if already submitted)

Increase Foreign Expert

If investors want to increase the foreign expert, they need to address to the chairman of the Myanmar Investment Commission attached with the following documents: Required documents for attachment

Cover letter (reasons)
Board of Directors' resolution
Power of Attorney (if investors cannot come to office)
Comparision Table of Proposal ,Increase and appointed List(Local /Foreign)
Business increase or not
Copy of updated quarterly performance report – form 10 (for those who has not provided yet)

Change name of Company

If investors want to change the name of company ,they need to address to the chairman of the Myanmar Investment Commission attached with the following documents: Required documents for attachment

Cover letter (reasons) (attach Company Registration Certificate which already changed in MyCO)
Board of Directors' resolution
Power of Attorney (if investors cannot come to office)
Copy of updated quarterly performance report – form 10 (for those who has not provided yet)

Change name of Principal Organization and Place of Incorporation

If investors want to change the name of Principal Organization and Place of Corporation they need to address to the chairman of the Myanmar Investment Commission attached with the following documents: Required documents for attachment

Cover letter (reasons)
Board of Directors' resolution
Copy of Parent Company’s Registration Certificate
Power of Attorney (if investors cannot come to office)
Copy of updated quarterly performance report – form 10 (for those who has not provided yet)

Pages

Reporting

Necessary reports

Quarterly Report (Form 10) Rule 197
Audit Report (Form 11) Rule 196

Post-Permit Activities