SCM Legal | Myanmar | News and Resource

NEWS & RESOURCES

Jul 16, 2022

Myanmar opens up the non-banking financial sector to 100% foreign participation

Foreign investors to be able to operate finance and leasing businesses in Myanmar.

Apr 14, 2022

Myanmar's New Foreign Currency Restrictions

A detailed analysis of Myanmar's new foreign currency restrictions.

Apr 7, 2022

Myanmar card spending limits cut in half

On 7 April 2022 the Central Bank of Myanmar (CBM) issued a letter effectively cutting spending limits on Myanmar issued credit cards and...

Apr 7, 2022

Import licences need to be in order!

Make sure to have licences for imports prior to arrival in Myanmar ports

Apr 2, 2022

Updates to cash withdrawal limits

Updated cash withdrawal limits keep general limits unchanged, but provide clarity on some of the exceptions.

Feb 7, 2022

Temporary relief for unlicensed imports

Customs Department to provide a 1 month grace period for imports which have been added to the licenced import list.

Jan 14, 2022

Changes to maternity benefits under Myanmar social security

Social security maternity benefits have changed when being reimbursed for using private medical facilities in Myanmar.

Dec 27, 2021

Insolvency in Myanmar, trends and developments

Commentary on Myanmar's insolvency regime, in the context of current events in the country.

Sep 15, 2021

Dropping exchange rate controls

Restrictions requiring banks and money changers to use the Central Bank of Myanmar's reference rate for currency exchange are dropped.

Jul 29, 2021

Central Bank exempts COVID-19 related expenses from cash withdrawal limits

CBM exempts cash withdrawal limits for Covid-19 expenses.

Jul 1, 2021

MIC updates operating procedures for state and regional investment committees

Investments of below USD5 million are approved by state and regional investment committes in Myanmar. A notification of the Myanmar Investme

Jun 21, 2021

Central Bank of Myanmar continues to tackle liquidity issues

The Central Bank of Myanmar has taken further steps to limit the ability of depositors to withdraw cash.

Jun 7, 2021

Myanmar adds soap and toothpaste to import ban

Ban on importing soap, soap powder and toothpaste over Myanmar's land border

Jun 2, 2021

Myanmar concessional import licence fees have ended

Myanmar has ended concessional flat rate import licence fees

May 25, 2021

New solar tender

The Electric Power Generation Enterprise (EPGE) under the Ministry of Electricity and Energy published, on 24 May 2021, an invitation to...

May 11, 2021

Central bank providing additional relief to banks

The CBM issued two directives on 7 May 2021, changing the reserve requirments and the method of calculating the liquidity ratio.

May 6, 2021

Change of control over the General Administrative Department (GAD)

The General Administrative Department (GAD) is central to the functioning of the government administration across the country and forms...

Apr 30, 2021

Myanmar restricts importing food products overland

Myanmar restricts the import of certain food products over its land borders, mainly affecting trade with Thailand and China.

Apr 29, 2021

Penalty relief on late filing of the Annual Return

As part of its corporate compliance requirements, every company in Myanmar must file an Annual Return within two months of incorporation...

Mar 27, 2021

Members are appointed to the Myanmar Investment Commission

The Myanmar Investment Law 40/2016 (MIL) is the key law regulating and promoting investment in Myanmar. The MIL provides investors with...

Mar 10, 2021

Regulations for operating a car dealership in Myanmar

What is required to operate a new car dealership in Myanmar

Mar 9, 2021

Selling heavy vehicles and machinery in Myanmar

Distributing heavy vehicles and machinery for commercial use

Mar 5, 2021

Cash withdrawal limits

The Central Bank of Myanmar (CBM) has recently issued new limits on the amount of cash which can be withdrawn from accounts. In a letter...

Mar 4, 2021

Importing used machinery into Myanmar

The Ministry of Commerce (MOC) has issued Notification No.8/2021 on 20 Jan 2021 (Notification) specifying the conditions for the import...