Investment Procedures
The first point of call for investment in Malawi is the Malawi Investment and Trade Centre (MITC), a government institution mandated to promote and facilitate investment in Malawi by offering one-stop services to prospective investors.
Investment Certificate Application
All investors are required to obtain an Investment Certificate before they establish their business in Malawi. Prospective investors are required to put up investments of not less than US$ 50,000 as minimum investment capital to be able to obtain an investment certificate from the Malawi Investment and Trade Center (MITC). To obtain this certificate the following should be submitted to MITC:
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Detailed Business Proposal /Plan
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Copy of memorandum of association
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Certificate of incorporation
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Copy of passport
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Investment Application Form
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Project Brief (3-5 Paged Summary of Project which will be sent to the Environmental Affairs Department to determine whether project requires Environmental Impact Assessment Study)
The application fee for the certificate is US $200 and issuance fee is US$ 800. The application fee of US$200 is paid to MITC at the time that the application pack is being submitted. The issuance fee of US$ 800 is payable upon the approval and collection of the Investment Certificate.
The Internal Approval Committee (IAC) hosted within MITC appraises the projects for approval or rejection. All applications submitted to MITC are processed by the committee. Issuance period of the certificate is within 5 working days.
Once the certificate is approved, MITC assists investors to get any additional licenses and permits that the investors might need to start their operations.
Business residence permit (BRP)
Once an investor obtains an investment certificate, one is required to get a Business Resident Permit that allows him/her to be based in the country to carry out his/her operations. The following documents should be submitted in duplicates for the application:
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Completed Immigration application forms
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A full business proposal
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Police Clearance report from the last country of residence
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Two passport size photos
The investor is required to pay a non-refundable processing fee of US$100.
The application is submitted to MITC and then it is forwarded with a covering letter to Department of Immigration for consideration.
Temporary Employment Permit (TEP)
For all key and time posts there is need to obtain Temporary Employment Permits. The key post permits are valid for 2 years and renewable whilst time post can be renewed up to three times. The following documents have to be submitted in duplicates to MITC.
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Completed Immigration Application Forms
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Two copies of the applicant's Curriculum Vitae
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Two passport size photos
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Certified copies of academic certificates
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The organization chart of the company
All those on time posts need to have an understudy who has to take over the post. This has to be done after 6 years because TEPs cannot be renewed for more than 6 years.
The applications are then submitted to MITC then forwarded to Department of Immigration with a recommendation for approval.
The investor is required to pay a non-refundable processing fee of US$100.
When applications are approved, the investor can proceed to open a bank account with the Malawian commercial banks and can also register with the Reserve Bank of Malawi.
