Over 80,000 companies registered and re-registered on the online registry system, MyCo in two years since the establishment of an online platform, according to the Directorate of Investment and Company Administration (DICA).

DICA launched its online registry system, MyCo on 1 August 2018 in accordance with the Myanmar Companies Law 2017. Since then, 33,718 new companies and 46,377 existing companies have registered and re-registered on MyCO, bringing the total number of registered companies to 80,095 by the end of July.

Besides, all registered companies need to file annual returns (AR) on the MyCO registry system within two months of incorporation, and at least once every year (not later than one month after the anniversary of the incorporation), according to Section 97 of the law. A total of 14,490 companies were suspended for failing to submit AR forms within the due date.

Source: Global New Light