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On 1 April 2021, the UK government announced additional measures targeting the Myanmar regime’s economic interests. Further to the 25 March 2021 announcement targeting Myanmar Economic Holdings Ltd (MEHL), the UK has added Myanmar Economic Corporation (MEC) to its Global Human Rights sanctions regime. The UK cited credible evidence that MEC had contributed funds to…

Recent political developments in Myanmar have led to the imposition of targeted sanctions by the US, UK and EU in the past month. As a result of the measures imposed, businesses may face immediate challenges in doing business in, or with, the state. Join our speakers as they provide insights…

Following the various entry restrictions put in place by the Myanmar authorities since March 2020 to address the COVID-19 situation, many residents who left the country prior to the imposition of the travelling restrictions have yet to return to the country. As some of these individuals fulfil the role of resident directors of Myanmar-incorporated companies, their prolonged absence from the country could result in the company being in breach of the minimum residency requirement imposed on the directors of Myanmar companies under the Myanmar Companies Law (“MCL”).

On 20 October 2020, the Directorate of Investment and Company Administration (“DICA”), announced, via Notification 92/2020 (“Notification 92”), a temporary relief for companies from the resident director requirements. It does so by excluding the period from 29 March 2020 until the official lifting of entry restrictions from the computation to determine a director’s residency status.

Following a significant increase in COVID-19 transmissions in recent weeks, the relevant Myanmar authorities have promptly issued additional notifications on top of existing directives to address the developing COVID-19 situation in Myanmar, notably on:  

Stay-at-home Orders affecting 7 Townships in Yangon; and
Mandatory Quarantine and Testing for visitors/residents travelling to Nay Pyi Taw.