How do I close my company in Myanmar?

How do I close a limited company in debt?

If your limited company owes money to creditors, the following options to close the company are available to you (Insolvent)

  1. Creditors Voluntary Liquidation (CVL) …
  2. Compulsory Liquidation. …
  3. Members Voluntary Liquidation (MVL) …
  4. Closing down after IR35. …
  5. Dissolution, also known as an informal striking off.

How to close a company in Myanmar?

A company can be closed down by a process of winding up, which is also known as liquidation. When it comes to winding up in Myanmar, there are mainly two laws which are (1) Myanmar Companies Law, 2017 (“MCL”) and (2) Insolvency Law, 2020 (“IL”).

Who are members of a company?

A member is one of the company’s owners whose name has been entered on the register of members. Members delegate certain powers to the company’s directors to run the company on their behalf. What is a shareholder? A shareholder is a person who buys and holds shares in a company having a share capital.

Is it compulsory for a company to have a constitution?

A company constitution is a core legal document that governs the internal management of your business. Only some companies are legally required to have a constitution. Regardless, most companies will choose to adopt their own constitution so that they can tailor it to the individual needs of their business.

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What happens if I close my ltd company?

After your company has been struck off, you cannot trade or carry out any business activities through that limited company. Any assets that are still held by the company at the point it is struck off will become the property of the crown.

What happens if you close a Ltd company with debt?

What Happens if you try to Strike Off a Limited Company With Debts? … Creditors apply for the company to be reinstated – Creditors who want to take action against the company to recover the money they’re owed can apply for the company to be reinstated to the Companies House Register.

How much does it cost to close Ltd company?

To strike off a solvent company is typically the most affordable option, with a fee being paid to Companies House. An MVL will involve a liquidator’s fee, which will usually be anything from £1,500 + VAT, depending on the complexity of the process.

How do I register a company in Myanmar?

Once your company in Myanmar is set up, you need to complete the following activities:

  1. Inject 50% of capital into your business.
  2. Submit a list of directors and shareholders.
  3. Get an official company seal.
  4. Register your tax and any employees for social security.

Where can I find a company registration number?

Steps to Check Company Registration Status

  1. Step 1: Go to the MCA website.
  2. Step 2: Go to the ‘MCA Services’ tab. In the drop-down click on ‘View Company/LLP Master Data’.
  3. Step 3: Enter the companies CIN. Enter the captcha code. Click on ‘Submit’.
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