On December 2017, President U Htin Kyaw approved the Myanmar Companies Law 2017. The 1st of August this new law will replace the old Companies Act of 1914. The DICA is ready to implement it at that date. The new law is an important step to attract foreign investment in Myanmar, the entire act encompassing a wide range of regulations which will affect local and international investors (share transactions, reduction of initial capital and shareholder authorities). A foreigner will now be able to hold shares in a company up to 35% and keep the qualification of “local company”. Therefore, some activities which were exclusively for locals are now opened for foreign investments. However, regarding the downsides, the law provides for a new punitive method of fines for non-compliance with its provisions. Finally, every company will need to re-register to comply with the DICA new electronic registry system. This Legal Talk on Thursday 26 will be an overview of this new regulation.

Member of the New York Bar, Eddy graduated from several master degree in France and in the U.S.A (International law, European law, American Law).  He has been trained in renowned Parisian law firms through arbitration cases and international business law issues. He is the Country Representative of Audier & Partners Myanmar Office. As Associate, he advises clients in large fields of business law, corporate law and dispute resolution matters.