Myanmar

Innovare Myanmar is based in Yangon, Myanmar and is a wholly owned member of the Innovare Group.

The opening up of Myanmar has created a buzz in the business community for several years. As the new emerging destination, it offers tremendous opportunities for the early movers. However, most organisations venturing into Myanmar face roadblocks that often make the processes we take for granted elsewhere a challenge here. Basic necessities like employment of a foreigner, administering of payroll, paying taxes are not that straightforward.

The Innovare Group provides a full contract management model in Myanmar specific to your requirements operating in multiple industries. We usually refer to this model as the Employee of Record (EOR) model. Some of the characteristics are elaborated below.

We are able to assist whether you or your consultant is an expatriate or local in Myanmar.

We have a team of payroll, immigration and compliance specialists ready to provide professional advice in terms of contracting.How Innovare Myanmar can assist:

• Immigration Services

• Payroll Administration

  • Tax Management

  • Social Security Management

  • Benefits Management

• Employer of Record Services

• Local Billing Services

• Payment Services

• Other Employer Costs and Insurance

• Statutory Benefits

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Immigration Services

Immigration laws in most countries in Asia Pac often hold a local entity responsible for the entry, wellbeing, good behaviour and eventual exit of the individual. This also ensures that local immigration and employment laws are adhered to. This host company will be the technical employer of the individual.

We assist with the sponsorship of a business or work visa. Please speak to your Innovare sales contact person who will determine the appropriate visa for you or your consultant.

Local Billing Services

In the event that you do not have an entity in Myanmar, Innovare can act as your representative for the purpose of billing your clients on your behalf.
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This service includes:

• Assistance in collaborative collection of monies

• Full compliance with prevailing tax laws

• Management of your margins
  

Payment Services

The banking system in Indonesia is still regaining its foothold. Nevertheless, payment process taken for granted in many other jurisdictions remain a challenge locally.

With a local team and established entity as well as processes, Innovare can facilitate payments on behalf of individuals and companies.

Multi-Currency and multi Jurisdiction

As we have our own establishments throughout AsiaPacific, we are able to facilitate inbound and outbound payments on your behalf in the major currencies.

Confidentiality

As Innovare deals with a large number of multinational as well as smaller corporations, we recognise that confidentiality is of paramount importance. We abide by the provisions of the Personal Data Protection Act of Singapore dated 2 July 2014. Whilst these are strict requirements of our headoffice in Singapore, the principles and processes are applied throughout the Group. You can be assured that your confidential data are protected.

Our Team

Our capable team of local Myanmar residents are well versed in international and local accounting procedures and standards. The management team have spent many years shouldering core finance functions in Singapore, serving international clients before deciding to relocate to Myanmar.

Hence, the team is well able to render local services at international standards. In addition, Innovare Myanmar’s team is well supported by the headoffice team based in Singapore to ensure that our customers receive the high standard of confidentiality and service they have come to expect.
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We have the privilege of supporting a large variety of companies ranging from the multinational companies to the smaller set-ups. Please refer to the testimonials.

We look forward to discussing your requirements.
We are keen to partner you in your expansion into Myanmar. Please do not hesitate to contact us:

Name: Yin Yin Hla
Tel : +95 9262130770 / +95 11222831
Email: Myanmar.Consultation@innovare-group.com

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Should you need assistance in Asia Pacific, we would be pleased to hear from you.
Contact us for a discussion and a quick quote.

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Myanmar Travel & Quarantine Requirements

Travel and entry requirements:

• All commercial flights into Myanmar are suspended until 31 December 2021.
  

• Visa exemptions and issuance of visas-on-arrival and e-Visas for all countries are suspended until 31 December 2021.
  

• Entry ban for residents of India and Bangladesh and travelers who had visited these countries in the last 14 days prior to entering Myanmar

• All travellers are required to provide a negative COVID-19 RT-PCR test taken within 72 hours prior to entry to Myanmar and are subject to health screening on arrival.

• Entry ban on all foreign nationals through any border check point between Myanmar and its neighbouring countries. Foreign nationals with valid entry visas may enter and exit Myanmar only at Yangon, Mandalay and Nay Pyi Taw International Airports.
  

Quarantine and Health Requirements:

• Compulsory 10 days quarantine at a government designated facility or hotel.

• Travelers will be required to take two Covid-19 PCR tests during the quarantine period at their own cost.

Updated as of 8 December 2021:

Disclaimer: Due to COVID-19, there has been a constant change in terms of work permit process, timeline, travel restrictions, quarantine period, medical tests as well as insurance requirements etc. All these requirements can change by the respective authorities in both country of work and candidate’s home country from time to time. The process, timeline and costs that Innovare provides is a guideline and is subject to change if any process is being changed. While every reasonable effort has been made to ensure its accuracy at the time of communication, Innovare cannot guarantee nor be liable for such change in timeline or costs arising from any pandemic related factors so please take note of the potentially volatile situation during this period.

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