Holders of Foreign Exchange Business License:

(a) After making the transfer in foreign currency, the letter “Certificate of transfer in foreign currency” shall be clearly stated on the identification document submitted by the contact person and returned to the contact person;

(b) A copy of the recommendation in sub-paragraph (a) shall be kept for at least five years so that it can be examined by the Central Bank of Myanmar;

(c) The transfers in sub-paragraph (a) shall be scrutinized and approved regularly as ordinary accounting transfers or capital account transfers.

The holder of a foreign currency trading license may open a local foreign currency bank account as of the resident bank account in accordance with the following conditions:

(a) Kyats received in accordance with official foreign currency or permitted remittances shall be credited to the bank account only in foreign currency obtained and exchanged;

(b) According to this regulation and as per instructions issued from time to time by the Central Bank of Myanmar, you can only borrow money for local payments in exchange for kyat exchange and allowable remittances for domestic payments from that bank account.

A person who resides on the Nation must obtain the permission of the Central Bank when opening a foreign currency bank account abroad in accordance with the provisions of Section 14 of the Foreign Exchange Management Law.

According to paragraph 11 above, the person who has opened a bank account in abroad must submit a monthly bank statement to the Central Bank.

The holder of a foreign currency trading license can open bank accounts in foreign banks and shall inform the balance of those bank accounts as prescribed by the Central Bank. The report must be submitted to the Central Bank from time to time.

The holder of a foreign currency trading license shall proof when issuing loans in foreign currency to a resident in the country, the borrower has a regular earning in foreign currency in accordance with the amount borrowed. Loans must be issued only after satisfactory evidence is verified. In addition, the disbursement of these loans is in accordance with the directives issued by the Central Bank. Loan procedures must comply with approved loan standards.

Each resident of the country has the right to hold up to US $ 10,000 / - or more than the equivalent of the legal tender received within six months from the date of receipt. Foreign currency that has not been used for more than six months must be traded at the market price or deposited in a bank account with the foreign exchange license holder.

The holder of a foreign currency trading license can deposit the following foreign currencies without the prior approval of the Central Bank and open a foreign currency bank account for a resident in abroad:

(a) Foreign currency received by transfer of official bank account from abroad;

(b) Foreign currency obtained from the exchange of kyats received by a foreigner in the country in accordance with the remittances permitted under this Regulation.

The holder of a foreign currency trading license may only be allowed to borrow from the bank accounts as per Paragraph 16 for the following purposes:

(a) repaying the foreign currency of another foreigner in accordance with the remittances permitted under this Regulation or transferring the official bank account to another foreign resident's bank account;

(b) Exchange of foreign currency received in Kyat according to the remittances permitted in accordance with this Regulation.

The holder of a foreign currency trading license may systematically approve the payment for goods and services after systematically verifying that the transfers are permissible in accordance with the provisions of this Regulation.

Holders of foreign currency trading licenses should be permitted only if the contactor clearly states that the advance payment is required for the following reasons:

(a) being a specially ordered product or service;

(b) being in accordance with trade procedures;

(c) the order can be confirmed only by advance payment;

(d) providing discount due to the advance payment.

The holder of a foreign currency trading license must compile the permitted advance payment statistics daily and submit them to the Central Bank and the Customs Department on the next working day of the permit.

The following must be done regarding unreasonable advance payment requests:

(a) The licensee of foreign currency trading business shall submit to the Central Bank for approval the unsolicited advance payment requests;

(b) The Central Bank may, after reviewing the documents identifying the document markings, find that they are correct and allow the payment to be made in advance.

The licensee of a foreign exchange trading business is entitled to patents, patents and patents based on the documents of the trademark. Patents; Trademarks Foreign currency transfers may be made in connection with business licenses and / or intellectual property (patents).

The holder of a foreign currency trading license may scrutinize the tax clearance documents when the foreign employees request to be transferred of their official income earned in the country.

If an investor under the Foreign Investment Law and the Special Economic Zone Law, the evidence documents submitted shall be in accordance with the provisions of the Foreign Investment Law and the Special Economic Zone Law, or if it is not applicable to the Foreign Investment Law and the Special Economic Zone Law, in the case of investments under the Myanmar Companies Act, the documentary evidence submitted must be scrutinized by the holder of a foreign currency trading license to ensure whether it is compliance with the provisions of the Myanmar Companies Act.

The holder of a foreign currency trading license shall coordinate with the respective law enforcement organizations for monitoring and investigating if the transfer is suspected as fraudulent transfer made by one of the regular customers.

The license holder of a foreign currency trading shall apply for any investment capital transactions done in abroad to the Central Bank except for those transfers done by individuals up to US $ 10,000 / - or equivalent amount of other foreign currency.

A resident of the country who wants to invest directly or indirectly in a foreign country can invest in any type of investment business, such as direct investment or contracts, portfolio investments or other investments or real estate acquisitions. The amount of funds to be invested and related information shall be reported to the Central Bank and getting approval of the Central Bank.

If the resident made any investment mentioned under Paragraph 46 before the enactment of this Regulation or any business done abroad prior to the enactment of this Regulation shall be promptly submitted to the Central Bank in accordance with the provisions of this Regulation.

A resident of the country must obtain prior permission in accordance with the instructions issued by the Central Bank from time to time whenever processing documents such as obtaining foreign loans or borrowing or obtaining loans from abroad.

A resident of the country shall, as per Paragraph 48, apply for the Central Bank's prior approval for obtaining foreign loans in accordance with the instructions issued by the Central Bank from time to time.

If the loan agreement and documents submitted together with the loan application applied by the resident is not clearly stated for obtaining a foreign loan under Paragraph 48, the purpose of getting loan, loan repayment terms and other information stipulated with the directives issued by the Central Bank from time to time.

While getting loan from foreign country as per Paragraph 48 by the resident, the confirmation for market reflected interest rate shall be submitted.

The license holder of a foreign currency trading must carry out the loan repayment and interest payment process only after verifying that the loan has been approved by the Central Bank of Myanmar for obtaining foreign loans under Paragraph 48.

Every time a foreign investor brings in the investment capital designated as an investment from abroad, it must submit to the Central Bank with proof that the transfer was made by bank account holder through a foreign currency trading license holder.

A person who is living in the country or abroad, when entering to Myanmar or leaving from Myanmar, he/she shall declare to the Customs Department if he/she is carrying more than US $ 10,000 / - or equivalent in foreign currency or checks or debenture or remittance certificates or traveler's checks or money orders or payment agreements or security exchange.

Electronic Debit or Credit Cards or other electronic or online payments and transfers are subject to Electronic Banking Rules and Regulations and must comply with the Mobile Banking Directive and this Regulation.

A resident going abroad for business or on duty or other purposes and who wear jewelry for oneself shall not be exceeded for ten million kyats either for short-term and long-term travel and shall declare to the Customs Department to bring back the said jewelry when he/she comes back to Myanmar.

Visitors to Myanmar can bring back the jewelry they brought with them when they enter Myanmar after declaring at the Customs Department, by proofing the original documents issued by the Customs Department.

The license holder of a foreign exchange trading shall make ordinary foreign transfers from domestic to domestic or from domestic to international and from international to domestic or domestic capital transfers in foreign currency only.