Myanmar's New Foreign Investment Law Overview

The Rules - Provisions ODFDL LEGAL & TAX Transferable Equity: One of the most important features of the Rules is that shares held by Myanmar citizens of entities formed under the FIL, with MIC approval, may now be transferred to foreigners and vice versa. [Rule 65] If an extension is needed for the construction period, the investor must apply to the MIC at least 60 days before expiration of the construction period. [Rule 57] Investor can sub-lease or mortgage the long lease on application to the MIC. This is a significant step in further developing off-shore financing. 26

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