Securing operating licenses, investment licenses, various approvals and permits and complying with local regulations for various business activities and operations is a key concern for our international clientele seeking to enter the Myanmar market, and a core competency of our firm. Our clients choose us for our extreme hands-on approach, our ability to communicate processes and document requirements clearly, and our ability to gain quick access to Government decision makers.
Highlights of our practice:
Our firm’s approach is to provide not just high-level advice on the process, but to actually prepare the voluminous financial portion of the application ourselves in addition to the legal sections. Of course, this is only possible with an interdisciplinary team that comprises accountants and financial specialists (overseen by a partner with a CPA and Big Four background), as well as lawyers:
Very often face-to-face meetings and an actual project presentation will be required. We will conduct such meetings (with or without your representatives), assist in preparing the presentation (for example pointing out where to put emphasis, based on our prior experience with the MIC), and assist you at the time of the presentation (or make it on your behalf if you are unable to attend).
Our approach results in significant time and cost savings for prospective investors.
VDB Loi is very often asked by clients to advise on and assist with securing all required approvals from the various regulators or Ministries to carry out a business activity. In practice, even if no specific licensing system exists, investment proposals need to be supported by the Ministry or Ministries that have authority over this activity. If this communication between the various Government departments is not properly supported by the investor’s local advisor, there is the possibility of significant delays. Our service includes advising clients on the policy and practices of the relevant Ministry or Ministries, providing advice on their expectations based on earlier projects, establishing contact, and assisting with securing the required approvals, permits and licenses.
Obtaining construction permits is extremely hands-on in Myanmar. Procedures are not always as clear as they could be. It is challenging to get access to constantly overloaded authorities. Our team has provided technical assistance to the Yangon City Development Committee in relation to strengthening the administrative process for specialized construction permits. We assist a number of our real estate and engineering clients in the real estate and engineering with obtaining construction permits, contractor operating licenses, zoning approvals and special permissions from the Department of Civil Aviation for certain construction projects. The firm also assists with obtaining import licenses and regulatory approvals for equipment and materials.
One of the firm’s unique specialties is our assistance with securing import and export licenses. Under Myanmar’s system, nearly all imported goods require an import license, which requires processing through a number of Government agencies. Our team in Nay Pyi Taw is experienced, responsive and highly engaged to get the job done as soon as possible.
We also provide assistance with import approvals. A number of goods must be approved in advance for import, such as foodstuffs, pharmaceuticals and telecommunications equipment. We assist clients with securing those approvals as quickly as possible.