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Myanmar grants permanent residency to nearly 600 foreigners in 5 years

YANGON, Jan. 14 (Xinhua) — Myanmar authorities have granted permanent residency status to 591 foreigners so far since 2015, according to the Information Ministry on Tuesday. From Jan. 29, 2015 to present, a total of 648 persons applied for the permanent residency, the ministry said. The Central Committee for Implementation of Permanent Residency interviewed 18 […]

Gem buyers exempted from tax

Foreigners who purchase jewellery and gems at the Yangon International Gems and Jewellery Fair 2020 will exempted from paying a 5 percent commercial tax, according to Daw Nyunt Nyunt Khine, joint-treasurer at the Gems and Jewellery Entrepreneurs Association (GJEA). Foreigners entering the country to participate at the fair will also be given easy access to […]

Maex prepares to file at Yangon stock exchange

Myanmar Agro Exchange Public Lt. (MAEX), which builds and operates Da Nyin Gone Fruit, Vegetable and Fruit Wholesale market, said it has prepared all the requirements to be listed at the Yangon Stock Exchange (YSX). “With the help from lawyers, we have prepared 18 points, that we needed to complete. We are closely watching the […]

Permanent residency granted to 547 foreigners in over four years

Myanmar has granted permanent residency to 547 of 614 foreign applicants over the past four years since January 29, 2015 when PR was launched, according to sources released by the Ministry of Labour, Immigration and Population on September 4. PR for foreigners in Myanmar is divided into four categories—professional, investor, old Myanmar citizen and mixed-race. […]

Guide to ‘Respecting Myanmar Culture in the Workplace’ launched

The Directorate of Investment and Company Administration (DICA) and the Myanmar Centre for Responsible Business (MCRB) have launched an guide to “Respecting Myanmar Culture in the Workplace”. The guide aims to help foreigners understand Myanmar culture and avoid cross-cultural misunderstanding in the workplace and with local communities. It was developed by the MCRB, in partnership […]

Foreigners welcome to set up retail-petroleum business

Foreign oil and gas companies with retail operations can apply to set up their businesses in Myanmar, a senior official with the Ministry of Electricity and Energy (MOEE) told The Myanmar Times. While Myanmar remains the only member of Asean that does not allow 100 percent ownership in retail petroleum operations, it has allowed foreign […]

Maha Myat Muni Pagoda to charge foreigners K5000

Foreign visitors to Mandalay’s Maha Myat Muni Pagoda will be charged K5000 (US$3.25) each starting on July 1, according to the Myanmar Tourism Entrepreneurs Association. The pagoda, which has had free admission until now, will use the entrance fee for maintenance and conservation, the group said. It is one of Mandalay’s most popular tourist destinations, […]

Draft law for foreigner-only casinos in Myanmar: report

A bill that would authorise in principle the setting up of foreigner-only casinos in the Southeast Asia state of Myanmar was submitted to the lower house of the country’s legislature on Tuesday, the Myanmar Times newspaper reported on Wednesday. The Gambling Bill 2018 is said to include amendments to an existing statute, the Gambling Act […]

Is country ready for full foreign investment in education?

According to the Directorate of Investment and Company Administration, Singapore, New Zealand, and Australia are interested in investing in Myanmar’s education, with Singapore having conveyed the most willingness. The Myanmar Investment Commission (MIC) has allowed foreigners to make full capital investment in Myanmar, according to notification 7/2018 issued by the MIC on April 20. Thus, […]

Car park regulations are stunting the Yangon condo market: Colliers

While the passing of the Condominium Law and its related rules is positive for the condo market in Yangon, the city’s car park regulations are the biggest barriers to growth in the market, said Mr Tony Picon, founder and director of Colliers International Myanmar, during a recent seminar on the Condominium Law and Rules hosted […]