Investing in the Myanmar Real Estate Sector

25
Oct
2014

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In the highly dynamic environment of the liberalization of Myanmar’s economy, economic laws and regulations play a pivotal role. This report aims to analyze how the current laws, regulations and Government processes affect foreign investment in Myanmar’s real estate sectors. Put another way, our particular vantage point for looking at the Myanmar real estate sectors is its regulatory framework.

Chapter Overview

In the first chapter, we outline how most foreign-invested real estate projects are structured in Myanmar. There are a few structuring options, including joint venture, BOT or the locally popular unincorporated joint venture.

In the second chapter, we analyze Myanmar’s Land Laws and Regulations that specifically relate to the real estate projects. We then discuss how general Myanmar legislation, such as the Foreign Investment Law and its implementing regulation, affects foreign investors this sector.

The third chapter is dedicated to the licensing of foreign investment in real estate. We cover forms of foreign investment which are allowed, joint ventures in real estate, investment licensing and the Myanmar Investment Commission (MIC) permit process.

In the fouth chapter, we provide an overview of the soon to be release condominium law which will allow foreigners to own condominiums (with some restrictions), establishes rules for their construction and details how they will be operated.

In the fifth chapter, we provide an overview of how the Myanmar Government actively encourages development of hotels, office buildings, commercial buildings, conferences centers and mixed use projects on government land through a Build Operate Transfer (BOT) structure.

In the sixth chapter we review the process for obtaining construction permits and some of the legal challenges involved.

The seventh chapter contains an overview of environmental law and regulation in Myanmar. This includes detailed information regarding Initial Environmental Assessments (IEAs), Environmental Impact Assessments (EIAs), Environmental Management Plans (EMPs) and Social Impact Assessments (SIAs).

In the eighth chapter, we provide an introduction to the financing and security aspect of investment in this sector.

In the ninth chapter tax implications and stamp duty are discussed with detailed information tax information including withholding tax, commercial tax, corporate income tax, capital gains tax, customs duty, and income tax on salaries.

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