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:
The application fee for the certificate is US $200 and issuance fee is US$ 800.
The Investment Approval Committee (IAC) is a committee comprising of government institutions that are intermediary organizations for investments and MITC is the secretariat of the committee and Ministry of Industry and Trade is the chair.
All applications submitted to MITC are processed by the committee. 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;
The processing fee is MK 10,000 and the issuance fee is MK500,000.
The application is submitted to MITC and then it is forwarded with a covering letter to Department of Immigration for consideration.
Temporary Employment Permit
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.
**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 processing fee is MK 10,000 and the issuance fee is MK120,000.
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.