Market Entry Strategy
Despite the passage of a new Foreign Investment Law in November of 2012, entering the Burmese market is not straightforward or easy. The pace of change has meant that many old rules and regulations may be evolving or no longer be in place, and thus the Embassy strongly advises U.S. business to consult with local and U.S. based professional services, including law firms (see Local Professional Services below) to determine the most appropriate entry strategy for Burma. While the United States has eased economic sanctions, some restrictions remain in place, such as selling to the military or dealing with persons on the SDN list, which is maintained by the U.S. Treasury Office of Foreign Assets Control (OFAC).
The United States remains concerned about the protection of human rights, corruption, and the role of the military in the Burmese economy and as such require all new U.S. investment in excess of US$500,000 to be subject to certain reporting requirements. Investors will be required to file reports with the State Department on an annual basis, to include a version of the report that the Department will make publicly available, consistent with relevant U.S. law. The above reporting requirements apply to any new investment, whatever corporate form it might take.