Myanmar

Overview

DFDL provides a full range of legal and tax services to foreign and local investors operating in Myanmar. Our team of over 20 experienced local lawyers and foreign advisers in Yangon and Naypyidaw provide efficient, effective and practical legal services at an international standard, coupled with personal, in- depth knowledge of the local environment.
Founded in 1995, DFDL is one of the oldest foreign legal and tax firms in Myanmar and best placed to advise Asian and international companies on their investments in Myanmar.
Since its foundation, DFDL has acquired an outstanding reputation for providing seamlessly integrated and solutions-oriented legal and tax services to establish, structure and protect our client’s business interests. DFDL is also actively involved, in tandem with international development agencies and local jurisdiction stakeholders, in developing the legal and regulatory environment of the emerging markets in which we operate.

Area of Expertise

  • Banking and Finance including Corporate Finance Project Finance, Securities and Investment Funds
  • Business Integrity and Compliance
  • Corporate and Commercial (including Insurance)
  • Employment and Labor
  • Energy, Mining and Infrastructure
  • Real Estate and Construction
  • Regulatory Assistance
  • Project Development
  • Taxation
  • Technical Assistance
  • Trademark search, registration and defense
  • Trade and Customs Advice
  • Translation
  • Visa, Stay permit and FRC application assistance

Key Experience

The largest single shareholder of the Tokyu on its pre-licensing tender process and securing a provisional foreign life insurance license (one of the only five companies in Myanmar to have such a license).

Two major financial institutions on its USD 300 million equity and loan funding on a project finance basis for the Landmark mixed use real estate development in downtown Yangon, carried out by the Yoma Group of companies.

An international development finance institution on its financing of USD 100 million connectivity infrastructure projects in Myanmar.

A financial services company on its detailed regulatory survey for offshore products and financial services in Cambodia, Lao PDR, Myanmar, Thailand and Vietnam.

One of the three reputable institutional banks based in China in relation to its USD 225 million secured loan to Yangon Aerodrome Company Limited, the company that holds the concession from DCA to develop, construct and operate terminal and other facilities at Yangon International Airport.

A consortium of banks and financial institutions on its financing of a 225MW gas-fired combined power plant project, the largest of its kind in Myanmar, the Myingyan Power Plant.

A Thai equity investor on an O&M agreement and JV in a large scale mining project in Myanmar, under PSC with a state- owned enterprise.

A consortium of lending banks on the financing of the acquisition of Pan Asia Majestic Eagle Limited (PAMEL), a leading Myanmar telecommunications infrastructure company, by TPG.

Key Members

William D. Greenlee, Jr.

William’s practice focuses on M&A, international transactions, securities, corporate, energy, mining and infrastructure, and project finance. He has extensive experience with manufacturing, retail, banking and finance, technology, media and telecommunications (TMT), real estate development, aviation, hospitality and tourism, mining, power and the oil and gas industries throughout Asia. For over two decades William has been advising high profile clients from around the world. He has advised, among many others, on the Myingyan gas- fired power project, the first internationally tendered large-scale power project in Myanmar. He is continually involved in negotiating, structuring, documenting and managing large transactions, working with private equity firms, opportunity-fund companies and other international companies throughout Asia.

He is recognized as a leading practitioner by all of the Chambers, Asia Pacific Legal 500 and IFLR 1000. He holds a B.A. degree from the University of Oregon in Asian Studies with a minor in East Asian Literature and a Juris Doctor from the University of San Francisco, California. As well as running the DFDL Myanmar and Singapore offices, William co-heads the firm’s regional China desk, which acts as a hub for Chinese investment into ASEAN. He is US-qualified attorney, licensed in California and Nevada.

William D. Greenlee, Jr.

Partner, Myanmar & Singapore Managing Director

Nishant Choudhary

Nishant has more than thirteen years of professional experience practicing law in India and Myanmar, over five years of which have been spent in Myanmar. He has advised on some of the largest, most challenging and groundbreaking transactions and investments in Myanmar. His areas of specialization include M&A and general corporate, banking and finance, telecommunication, aviation, energy and real estate. Nishant’s client portfolio features some of the leading Myanmar companies across a range of sectors. In addition to transactional advisory work, he has substantial experience with dispute resolution in India. In addition to being a frequent speaker at various national and international conferences and seminars across the globe, Nishant has authored several articles and papers published in various journals such as the IBA, Asia-MENA, Lexis Nexis and IFLR. He is often quoted for his views on legal matters relating to Myanmar by several Myanmar and international newspapers. Ranked by Chambers and Partners, Nishant was also awarded as 40 EU-India Business Leader 2019, which he received at the European Parliament at Brussels by the hands of Hon Caroline Nagtegaal, MEP – Netherlands & Vice Chair- European Parliament delegation for relations with India. He holds a Master of Laws (LL.M.) in Business and Finance Law from the George Washington University Law School, Washington DC.

Nishant Choudhary

Partner, Deputy Managing Director & Myanmar Head of Banking and Finance Practice

Thida Aye

With over 30 years’ of experience, Thida Aye’s areas of expertise include aviation, contracts, corporate, energy, finance, litigation, real estate and telecommunications. She provides high-level legal advice on all aspects of business transactions in Myanmar for foreign and domestic companies. Thida holds an LL.B from the University of Yangon, Myanmar and is admitted to the Myanmar Bar in Yangon.

Thida Aye

Partner, Myanmar

Jack Sheehan

Jack is a Partner and the Head of the Regional Tax Practice. He specializes in providing advice on structuring inbound and outbound investments in Asia, corporate and international tax planning, mergers and acquisitions, transfer pricing and supply chain structuring and tax controversy. Jack has also assisted in advocacy for tax policy at a Government level in a number of South East Asian countries.

Jack is listed as a leading tax adviser for 2019 by the Legal 500 and was nominated as Asia Tax Leader 2019 by International Tax Review.

Jack is regularly a speaker and writer on tax matters in Asia. Jack has spoken at number of leading Universities including the Law School at Queen Mary’s University London, the Law School at Chulalongkorn University Thailand, Law School at Dundee University UK, and leading tax bodies such as the International Fiscal Association (IFA) and the International Bureau for Fiscal Documentation (IBFD), and leading business associations across Asia.

Jack holds a Master’s Degree in Tax Law from the Law School at the University of Oxford and is a Fellow of the Association of Chartered Certified Accountants.

Jack Sheehan

Partner & Head of the Regional Tax Practice Group