The Yangon Region Gold Entrepreneurs Association has announced that a three-year license fee of 1.5 million kyats is required to be paid to obtain a mineral (gold) trading service license. In addition to the three-year license fee of 1.5 million kyats, 31,000 kyats will be required to be paid for two receipt books for gold transactions.

Currently, 34 gold shops in Yangon Region, including Sein Nan Daw Diamonds and Fine Jewellery, have been granted mineral (gold) trading service licenses. A gold shop that is granted a business license has to go and get the license in person at the mineral (gold) service office of No. 2 Mining Enterprise in Nay Pyi Taw. When going and getting the license, gold shop owners must fill themselve in the required information on the prescribed forms and sign the documents, the announcement said.

After that, the prescribed fee for business license for the mineral (gold) trading service and two copies of the gold transaction receipt book is to be paid at the Myanmar Economic Bank in Nay Pyi Taw. After making the payment at the bank, it is necessary to show the payment receipt to the mineral (gold) service office of No. 2 Mining Enterprise and complete the necessary office procedures. After that process, the relevant license card will be immediately received along with two copies of the receipt book for gold transactions, according to the announcement.