Can foreigners buy property in Myanmar

Can foreigners buy property in Myanmar

Draft of condominium law regarding can foreigners buy property in Myanmar has finally passed by the Myanmar Union Parliament. The law will legally permit foreigners to own up to 40 percent of condo building and it was formally approved on 22 January 2016. Under the law, a condo is defined as a building with at least six storeys on land measuring 20,000 sqft or 1858 sqm.

Can foreigners buy property in Myanmar and what are the restrictions

Besides the maximum 40% of condo building, the existing law also prohibits foreigners from owning land in Myanmar. The other confusion regarding foreigners are not permitted to manage the condos raised questions whether they will be allowed to rent out the units or not.

Type of taxes

These are the few property taxes you need to take note when you decide to invest in Myanmar property: income tax, stamp duty tax, capital gains tax, and property tax. For the detail tax rates please visit our Myanmar property tax article.

Update regarding foreign ownership for Myanmar property

As the market just started to welcome foreign investor with certain restriction, there are still many unknown issues which may raise concern among investors. Ministry of construction is expected to announce further details at later date. If you would like to receive latest updated info, you can subscribe to us and we will update you with the newest policy once it announces.

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