Frequently Asked Questions
Expert guidance on financing, property acquisition, and rental management in Myanmar.
Does Aye Chan Myay provide home loan assistance?
Yes. We act as a trusted bridge between our clients and major banks including KBZ, CB, AYA, UAB, and MAB. We assist with pre-qualification, document preparation, and bank coordination to ensure a smooth approval process.
What are the standard requirements for a home loan?
Generally, you need to be a Myanmar citizen with a stable, verifiable income. Common requirements include a 30% down payment, NRC/Household list, 6 months of salary slips or business tax records, and a solid bank transaction history.
How long does the loan approval process typically take?
Once a complete set of documents is submitted, initial bank assessment usually takes 7 to 14 business days. We monitor the process closely to minimize delays in property disbursement.
Can I apply for a loan for both apartments and landed property?
Yes, though bank policies vary. Most banks offer flexible financing for officially registered condominiums and developers we partner with. For landed property, the title deed (Grant) must be verified and cleared of all legal encumbrances first.
What documents do I need to prepare for a property sale?
To ensure a smooth transaction, sellers typically need the original Land Grant (G-Level), the most recent Land Map/History (Form 105/106), and the owner's NRC. Our team will verify these documents to ensure the property is free of legal encumbrances.
Are there additional fees for buyers beyond the property price?
Yes. Buyers are responsible for Stamp Duty and registration fees. If the purchase is made with income that hasn't been taxed yet, a specific property tax may apply. We recommend consulting with our legal desk for a precise calculation based on the current year's regulations.
Can foreigners own property in Myanmar?
Under the 2016 Condominium Law, foreigners can collectively own up to 40% of the total units in a registered condominium building. Direct land ownership for foreigners is currently restricted.