The Directorate of Investment and Company Administration (DICA)’s new electronic registry system will start accepting a number of forms related to company registration from today onwards. All company registration and filing processes has re-commenced since August 1 under the system Myanmar Companies Online (MyCO).

The MyCO registry will be accepting the following forms online from now on: Form C1 (Notice of alteration of constitution), Form C2 (Notice of change of company name), Form C4 (Notice of change of registered office or principal place of business), Form D1 (Particulars of directors and secretary), Form G1 (Statutory Report of public company), Form G2 (Prospectus of public company), Form G3 (Statement in lieu of prospectus of public company) and Form G4 (Statement in lieu of prospectus of public company).

In addition, from October 1, the registry will also be accepting Form C3 (Change to share capital or register of members), Form H1 (Registration of mortgage or charge) and Form H2 (Registration of mortgage or charge over property acquired by company).

Under the new Companies Law, all companies registered in Myanmar have until January 31, 2019 to re-register on MyCO. If an existing company does not re-register electronically before that deadline, the registrar may strike its name off the register and announce that the company shall be dissolved, while continuing to enforce the liability of its directors and members.

Investments located in the Thilawa Special Economic Zone (SEZ) also need to re-register through the DICA section of the SEZ’s One Stop Service Centre.

The MyCo system is designed to allow visitors to find information on all companies which are registered in the country.

The 2017 Companies Law, enacted in early December last year and went into effect in August, allows domestic businesses to seek foreign capital and expertise via joint-ventures. It allows foreign entities to take up to a 35-percent stake in domestic companies and opens up the Yangon Stock Exchange for non-Myanmar customers.

At the same time, DICA has published the Chinese translation of the new Companies Law as a guidebook for company directors, which is available on its website.

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