🇲🇲 Annual Compliance — Myanmar

Proceeding with Myanmar investment without sanctions compliance review

Fix: US (OFAC), EU, and UK sanctions on Myanmar are complex and evolving. Engage specialist sanctions counsel before any investment, banking relationship, or payment involving Myanmar. Sanctions violations carry severe civil and criminal penalties. Do not rely on general corporate counsel for sanctions analysis.

Assuming banking will function normally for international transfers

Fix: Myanmar's banking system is in crisis. International wire transfers face severe delays, restrictions, and Central Bank controls. Maintain offshore banking relationships for international transactions and budget for significant delays in moving funds in and out of Myanmar.

Underestimating the kyat depreciation impact on financial projections

Fix: The Myanmar kyat has depreciated from approximately 1,300 MMK/USD pre-coup to over 3,500 MMK/USD. Financial models must account for continued currency instability. Where possible, structure contracts in USD and maintain foreign currency reserves outside Myanmar.