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Myanmar: Overview

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Myanmar: Overview

Myanmar (pop. 57,641,000; GDP/cap US$154) is one of the most savage military dictatorships still in power, and one of the most closed societies. Its leadership exists largely to enrich itself by whatever means possible. The simple act of having a telephone installed requires a bribe, and the system appears to be institutionalized, with little interest by the military leadership to change matters, since it also helps perpetuate its hold on power. Smuggling of everything from drugs to jade is rife across the porous borders with China and Thailand.

Most overseas development assistance ceased after the junta began to suppress the democracy movement in 1988 and subsequently refused to honor the results of the 1990 legislative elections. The World Bank has approved no new lending for Myanmar since 1987, and has no plans to resume its program.

Foreign investment is highly restricted. Foreigners cannot own land but can lease it for periods up to 30 years, or more if approved by the goevrenment.

TAXES AND COSTS

Last Updated: Dec 18, 2008

Myanmar restricts property
ownership to its citizens

Rental Income: Foreigners are not allowed to own immovable property in Myanmar.

Capital Gains: Foreigners are not allowed to own immovable property in Myanmar.

Inheritance: There are no inheritance taxes in the country.

Residents: Residents are taxed on their worldwide income.

Read Taxes and Costs  »

 


RESIDENTIAL PROPERTY FACTS
Price (sq.m): n.a. Rental Yield: n.a.
Rent/month: n.a. Income Tax: n.a. Assumptions: Owners are a non-resident couple drawing US$ / €1,500 per month in rent, with no other local income.
Roundtrip Cost: n.a. The total cost of buying and then reselling an apartment. Includes:

* all transaction taxes and charges:
* lawyers' and notaries' fees
* agents' fees

Assumptions: The buyers are non-resident foreigners. The apartment cost US$250,00 / €250,000. 		Cap Gains Tax: n.a. Assumptions: The property was bought for US$250,000 / €250,000, and sold 10 years later, after a 100% appreciation.
Landlord & Tenant Law: n.a. Rating is based on a detailed study of each country’s law and practice.
APRIL 2006
JULY 2005

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