In last 2019 part of November Myanmar's authorities declared about  introduction system of Mandatory Disclosure of Beneficial Ownership of Companies. New regulation entered into force in January 2020.

The strategy of Mandatory Disclosure of Beneficial Ownership of Companies need for efficient combat corruption, money laundering, tax evasion.

According report by the Law Library of Congress surveys the laws related to registration of beneficial owners and disclosure of information on corporate existing in the European Union as a whole and in twenty-nine countries, representing all continents of the world (such as USA, Australia, Malaysia, United Kingdom, India and others).

The Directive obligates Myanmar incorporated companies and other legal arrangements (trusts, joint ventures, partnerships, associations etc.) to obtain, and keep records of, information on their beneficial owners. The Directive requires Myanmar companies to appoint certain authorised individuals to provide beneficial ownership information on their behalf, and such persons will be made accountable to DICA. Records of the information must be kept for a period of 5 years from the time the company ceases to be a customer of a financial institution, or the time it ceases to exist. Failure to comply with the Directive renders the company subject to certain penal sanctions under Myanmar’s anti-money laundering legislation. Companies would be well advised to prepare for this new requirement as soon as possible given that it will come into force imminently.