Investment Process in Malawi
Investment Process
Presented below is an overview of the investment process in Malawi.
The investor must invest at least US$ 50,000.00 in order to be eligible for a Business Residence Permit (BRP).
In applying for a BRP, the investor has to submit application forms in duplicate, which can be obtained from Malawi Investment Promotion Agency, two passport size photographs, project proposal, police clearance from last country of residence and processing fees of MK 10,000.00. Upon approval of the BRP application, the investor has to pay MK 500,000.00 as issuance fees.
The investor has to submit to the Malawi Investment Promotion Agency (MIPA) together with the application forms, a comprehensive project proposal and/or business plan.
The company/enterprise must be incorporated/registered in Malawi. After incorporation, a foreign company is required to register its amount of capital inflow with the Reserve Bank of Malawi (the country’s Central Bank) through a Commercial Bank in Malawi.
Companies are also required to register with the Commissioner of Taxes for the payment of taxes.
The investor has to open a business account with a Malawian Commercial Bank. A business account is only transacted when a BRP and company registration/incorporation have been attained.
Exchange rate: US$ 1.00 = MK 151.00 (February 2010) |
