1 We are conscious that considerable debate has arisen over the years regarding the correct name of the country and its former capital.  Arguments have been made that English speakers should reject the use of the words “Myanmar” and "Yangon” as these are endorsed by the military Government and that the correct usage should be “Burma" and “Rangoon”.  Without wishing to go into the merits of this debate, we have elected to use the former names.
The relevant EU Common Position on Myanmar is set out in Council Decision 2010/232/CFSP of 26 April 2010 renewing restrictive measures against  Burma/Myanmar, OJ L105, 27.4.2010, p.22, as amended by Council Decisions 2011/504/CFSP of 16 August 2011 and 2011/239/CFSP of 12 April 2011.
3 Council Decision 2012/98/CFSP of 17 February 2012 amending Decision 2010/232/CFSP renewing restrictive measures against  Burma/Myanmar, OJ L47,18.2.2012, p.6.
Among other vehicles, a foreign investor may incorporate a limited liability Myanmar company or register a Myanmar branch of its foreign headquarters.  Both of these entities are defined as  “foreign companies” under the Myanmar Companies Act of 1913.  In addition, a foreign investor may incorporate a joint venture limited liability company with a Myanmar company.  In order to qualify for preferential tax treatment, the foreign shareholder must hold no less than 35% of the equity of the joint venture

Leave a Reply

You must be logged in to post a comment.