US firm Herzfeld granted Myanmar licence

New York-based Herzfeld Rubin Meyer & Rose (HRMR) has become the latest US firm to establish a presence in Myanmar.

HRMR was granted a license to open a law office in Yangon, which, the firm claims, makes it the first US investor in the professional services industry to take full ownership investment in the jurisdiction under the new 2012 Myanmar Investment Law.

The new office is registered as Herzfeld Rubin Meyer & Rose Law Firm and is staffed by both American and Myanmar lawyers. The firm’s of counsel Eric Rose has relocated from New York to Yangon to lead the new outpost from the US side. Rose has more than 25 years of experience in cross-border corporate and transaction matters.

Andrew Ngun Cung Lian, educated in the US, will serve as the managing director of the office and will lead a team of five lawyers.

Experienced Myamnar litigation lawyer U Kyaw Hoe, who is a member of the National League for Democracy (NLD) party’s central committee, will head the office’s litigation practice. The firm also plans to open a satellite office in Nay Pyi Taw, the national capital.

“The result of sweeping political and economic reform has ignited interest in Myanmar by American and other global investors—including our clients. Their renewed focus in the region, and Southeast Asia generally, is the impetus behind our decision to establish a presence there,” said HRMR’s managing director Ian Ceresney.

HRMR is headquartered in New York and has over 200 lawyers. Apart the US, the firm has affiliated offices in, Romania, Israel and Myanmar. The Yangon office is the firm’s first and only presence in Asia.

Duane Morris is another US firm that has recently set up an presence there through its Singapore joint venture partner Selvam & Partner (10 September 2013).