Local incorporation is required for investing in banking.
"STATEMENT OF REASONS [...]
TITLE TWO: APPROVAL, PROTECTION AND WITHDRAWAL OF APPROVAL OF CREDIT ESTABLISHMENTS […]
1. APPROVAL
Credit institutions are required, before exercising their activity on the national territory, to obtain the approval of the Central Bank (article 10).
Obtaining approval is subject to certain substantive conditions, the existence and meeting of which are checked by the Central Bank during the examination of the application for approval. These conditions are of a legal and economic nature.
at. Legal conditions:
There are three legal conditions: - the Credit Institution must be a legal entity. Except for banks which must, in principle, be set up in the form of a joint-stock company with limited liability, the legislator does not prescribe any corporate form. It leaves it to the supervisory authorities to assess "the adequacy of the legal form of the company to the activity of the Credit Institution";
[...]
Section 13:
When the authorization is requested by a Credit Institution which is a subsidiary of an Authorized Credit Institution in a foreign country, the Central Bank consults, before granting the authorization, the banking supervisory authorities of the country of origin. in order to ensure in particular the credibility of this Credit Institution. [...]" (LAW N° 003/2002 OF 02 FEBRUARY 2002 RELATING TO THE ACTIVITY AND CONTROL OF CREDIT ESTABLISHMENTS [google translation])
Law n°003/2002 of 02/02/2002 relating to the activity and control of credit institutions [google translation]
[<a href="https://www.leganet.cd/Legislation/Droit%20economique/Banques/loi.003.02.02.2002.pdf">Law</a>]