It is very easy to setup a not-for-profit Business Association whose purpose is to promote commerce and trade in Myanmar:
This form is ideal for Chamber of Commerce or Association whose purpose is to promote commerce that will benefit Myanmar’s economy and are Non-Profit in nature. The liability of the Association is limited by the guarantee given by its members. This is the most common form of non-profit organizations registered in Myanmar thus far by foreigners and local alike.
To see the list of Business Associations and Business Chambers that are registered in Myanmar click here
No minimum capital is required to register a legal entity in Myanmar.
What is the difference between a Commercial (for Profit) and a Non-Profit Organization?
A shareholder of a private company (for-Profit) can declare dividend and can share in the profit of the company. A member of a Non-Profit organization cannot declare dividend – all profits mush be plough back into the business to further it’s objective.
What is the minimum to start a Business Association in Myanmar:
- Member – minimum of 1 member, can be a foreigner. Must stipulate what is the guarantee amount (in USD or Kyat) each member is willing to provide should the company be wound up and there is outstanding payment to creditors.
- Director – minimum of 1 director, must have a least 1 director who is ordinarily resident in Myanmar i.e. spend at least 183 out of 365 days in a fiscal year in Myanmar. The resident director can be a foreigner as long as he/she meets the criteria of ordinarily resident in Myanmar. The director and member can be one and the same person.*
- Minimum Capital – not required.
- Organization Activity– need to state the Object of the organization in its Constitution. Remember the object of the organization must be to promote commerce &/or trade in Myanmar.
- A registered office address in Myanmar
Business associations are classified as Union (National) Level association if:
- most of the directors are foreign citizens OR
- where at least 7 directors are Myanmar citizens from 7 different states/regions in the Union
Take note that what you are submitting below is a bare bone draft about the organization you are proposing to incorporate. We will still come back to you to discuss about your requirements in more details before sending you a proposal for your approval.
We can incorporate your non-profit organization in 3 working days once you have given us a copy of the passport (foreigners) or NRC (Myanmar citizen) for all the members and directors of the proposed company.
