Nepal

IFLR1000 Reviews

Overview

Competition authority: Directorate of Investment and Company Administration

Financial regulator: Central Bank of Myanmar

IFLR1000 ranking categories for this jurisdiction:

Financial and corporate (published October) – Financial and corporate, Project development

Jurisdiction overview

As Myanmar emerged from five decades of military rule that cut it off from much of the rest of the world, the resource rich country started to open up in 2011 with a series of far-reaching political and legal reforms to achieve rule of law and provide more legal certainty for its people and investors.

Previously known as Burma, the country has seen US and EU sanctions eased and increasing interest from the international business community. It appears to be looking forward to a period of relative peace and prosperity. 

Some big international law firms have committed to Myanmar by opening an office in Yangon, including Allen & Overy in 2013 and Baker & McKenzie in 2014. This year, Berwin Leighton Paisner (BLP) opened its doors in the country by hiring Baker & McKenzie’s former managing partner Chris Hughes to lead its newly opened office in Yangon. 

Domestic law firms have also sought out new opportunities, with NK Legal Myanmar integrating into the wider regional network of Singapore firm Rajah & Tann, while Myanmar Legal Service affiliated itself with Thai firm Chandler & Thong-Ek Law.

But Myanmar’s local legal sector is underdeveloped and there is no national bar association for legal practitioners in the country. With the assistance of the International Bar Association’s Human Rights Institute (IBAHRI), Myanmar’s lawyers ran an election in September this year for their first ever independent national professional organisation to represent lawyers.

Once known for its poor human rights record, media censorship and tyranny under military rule, the regime has been left with many old laws that were set up to give leaders’ extensive powers to target political opposition and ethnic insurgents. 

Candy Chan - Journalist - Asia-Pacific

Financial and corporate
Imperial Law Associates

Imperial Law Associates is a full-service law firm headquartered in Kathmandu. Key figures at the firm include founding partners Nabin Bhandari, Surendra Tiwari and Deepesh Ojha. The firm is active in the financial and corporate space and has experience acting for clients such as multilateral organisations, government entities and corporates. 

Pradhan & Associates

Founded in 1997, Pradhan & Associates is a full service law firm located in Lalitpur. The firm was founded by Devendra PN Pradhan, who also serves as managing partner. The firm has a relationship agreement with Eversheds Sutherland and has best friends’ relationships with several international law firms.

Focusses / specialisms

The firm is known for its financial and corporate work across a wide range of industries and has experience acting alongside major international law firms such as Allen & Overy and Hogan Lovells.

Key clients

Recent clients include Yunnan Xinhua Water Conservancy Company, The Export-Import Bank of China, SkyPower Global, Carlyle Aviation, Goldman Sachs and Citibank.

Sinha Verma Law Concern

Established in 1955, Sinha Verma Law Concern is the oldest commercial law firm in Nepal. The firm maintains an office in Kathmandu and is led by managing partner Mahesh Kumar Thapa. The firm is recognised for its financial and corporate work. Sectors of activity include energy, technology and telecommunications and aviation.