Local incorporation is required for conducting microfinance activities in Malawi.
"16. Prudential regulation of non-deposit-taking microfinance institution
(1) The Registrar may determine a threshold in terms of assets or services for a licensed non-deposit-taking microfinance institution, as a group or individually, and upon attainment, the Registrar shall place such an institution under prudential regulation as defined in the Financial Services Act.
(2) Where the Registrar makes a determination under subsection (1) in respect of an institution—
(a) the institution shall be required to be incorporated as a company limited by shares, as defined in the Companies Act, or to become incorporated as such by a deadline to be set by the Registrar;
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Division III - Deposit-taking microfinance institutions
18. Deposit-taking microfinance institutions to be limited by shares
The Registrar shall not license any person as a deposit-taking microfinance institution unless the person is incorporated as a company limited by shares, as defined in the Companies Act." (Microfinance Act (Chapter 46:08), 2010, as amended)
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"Part II - Licensing [...]
4.(1) No person shall conduct credit reference bureau business unless he is licensed as a credit reference bureau under the Financial Services Act.
(2) No person, other than a limited liability company, shall be licensed as a credit reference bureau [...]" (Credit Reference Bureau Act (Chapter 46:09), 2010, as amended)
Microfinance Act (Chapter 46:08), 2010, as amended
Credit Reference Bureau Act (Chapter 46:09), 2010, as amended
[<a href="https://www.rbm.mw/Home/GetContentFile/?ContentID=3747">Act</a>],[<a href="https://www.rbm.mw/Home/GetContentFile/?ContentID=3757">Act</a>]