To incorporate a manufacturing company which involves heavy investment (lease land, build factory, import machinery, etc) – it is best to incorporate your company under the Foreign Investment Law (FIL). Under the FIL investors have to bring in a minimum capital of US$500,000 but in return the investors get various tax benefits.
The followings are some of the benefits:
- 5 years tax holiday.
- Exemption from import taxes on raw materials.
- 50% of the profits gained from exporting goods are not taxed.
- long term lease of land for 50 years plus two 10 years extension
Under the law, there are certain industries that foreigners cannot participate in.
We provide affordable company registration service under the Myanmar Companies Act. Click here to find out more.
