General Information of New Foreign Investment Law, Myanmar

Now, Myanmar pass new foreign investment law. But the new rules and regulations do not pass yet. So, the old rules and regulation still enforce. The following are the general information for the foreign investor,
(a) the foreigner cannot own land, or building,
(b) the foreigner can lease land or buliding for the first term 50 years term and additional 10 and 10 total 70years term. (Under new law)
(c) the foreign company can hire foreign employees for technical and skilled labor. But the first two years foreigner 75% and local 25%, the second two year foreigner 50% and local 50%, the third two year foreigner 25% and local 75% should be already hired. For non-technical and unskilled labor should be only local.
(d) the minimum capital is USD 500,000 for manufacturing and USD 300,000 for service(under old rules, it may or not repealed when the new rules passes)
(e) Foreign investment can be formed 100% foreign or Joint Venture.
(f) the foreign investment can get exemption for 5years commencing from the date of incorporation.
(g) If there is a reserve fund and invest again within one year, exemptions or reliefs from the profit of such investment.
(h) In manufacturing, the export products get 50% exemptions from income tax.

If someone who want more information about foreign investment in Myanmar, feel free to contact me in "sasanyunt@gmail.com". Please do not hesitate to contact.