YGEA informs gold shops to seek gem trading licences starting 18 Nov

Yangon Region Gold Entrepreneurs Association (YGEA) notified on 12 November that gold shops in Yangon Region can now seek gem (gold) trading licences starting from 18 November.
Individuals can apply for a gem trading licence at No 2 Mining Enterprise under the Ministry of Natural Resources and Environmental Conservation, presenting two licence photos, a citizenship scrutiny card and personal information. When entities want to apply for a licence under the company’s title, they must provide a company registration, company extract and documents, including a list of the board of directors and their citizenship scrutiny cards. Moreover, a bank statement with 25 per cent of total assets mentioned in the respective form and the maximum trading volume in (viss, tical, grammes, troy ounce) measurement must be declared.
Additionally, they need to present a recommendation letter from the respective township’s Department of General Administration, a police clearance certificate, a recommendation mentioning that individuals are members of the respective gold associations, and a ward administrator’s recommendation letter showing that one is living in the particular address. Furthermore, the shop owner must have the tax clearance certificate, the business licence granted by the respective municipal office and the commitment of the licence seeker to comply with the rules and regulations of gem trading.
Individuals can apply for a licence within three months from 18 November. For further details, they can contact the head of the department through 09 880002052. — NN/KK