According to the amended Myanmar Company Act, all companies must re-register at Directorate of Investment and Company Administration online or at the DICAâ€™s office starting on August 1st. There will be no charge for those re-registering, according to DICA.
Companies will be able to re-register online starting from August 1st when the amended Myanmar Company Act comes into effect and DICA then will establish a system called Myanmar Companies Online (MyCO) where everyone can have access to the information of companies.
â€śOnce online registration comes online, all the companies and enterprises can register free of charge. Their company certificate must be changed to the new one,â€ť U Aung Naing Oo, Director General of DICA, told the press at DICAâ€™s office in Yangon.
DICA will inform the official link of the re-registration system before August 1st and companies must be able to provide a report every three months online. The companies, which need to submit a quarterly report, will be informed online. The companies that register for the first time will be able to pay registration fees with Debit Card, Credit Card or MPU Card.
â€śIf you register online, it will only take a few minutes and you will get new company certificate. Moreover, we are working with Internal Revenue Department to help companies pay taxes easily,â€ť U Aung Naing Oo said.