Myanmar allows one EV import yearly for transfers over $50,000 via bank

Under this special arrangement, Myanmar nationals earning regular salaries abroad, including seafarers, who remit over 200,000 USD within a year, may import one electric vehicle per year, valued at up to 5% of their remitted amount. Additionally, those with non-salary income transferring over 50,000 USD annually are also eligible to import one electric car or electric motorcycle, valued similarly at 5% of the transferred amount.

The Myanmar Embassy in Bangkok has announced that Myanmar nationals will be permitted to import one electric car or motorcycle per year. Import can be done individually or, if a single transfer does not cover the vehicle’s total value, multiple remittances may be combined to meet the required amount.

For Myanmar workers, the Central Bank of Myanmar’s website provides information on salary transfer rates, lists of licensed foreign remittance companies, and banks authorized to conduct foreign exchange. It also includes details of international remittance organizations associated with these licensed banks. Furthermore, the embassy’s statement notes that salary transfer rates can also be checked on the websites of these authorized banks, which offer remittance services with the most affordable fees for Myanmar workers.

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Asia News Network