Myanmar workers overseas required to remit foreign earnings home

29 October 2024

On 28 August 2024, the Myanmar Ministry of Labour issued Notification No. 108/2024 (“Notification”) requiring Myanmar citizens working abroad to remit 25% of their wages to either their family in Myanmar or to their own local bank accounts. These remittances must be done via official channels such as the official banking system, authorised remittance business licence providers, or international remittance services linked with the banking system. The Notification specifically provides that workers are prohibited from utilising informal money transfer systems, such as hundi.

The Notification provides that these remittances should be made on a monthly basis or every three months where three months’ worth of the required amount is being transferred.

Citizens are required to retain money transfer receipts as proof of compliance with the Notification. Those working abroad via licensed overseas employment agencies (“Agencies”) are required to send their money transfer receipts to their respective Agencies. Agencies must facilitate the money transfers and submit proof of these monthly remittances to the Ministry of Labour.

Failure to comply with these requirements may result in penalties, including a ban on future overseas employment and the inability to renew passports.