Local incorporation is required for carrying out banking activities.
"TITLE II: conditions for granting, exercise and withdrawal of approval
CHAPTER I: grant of approval or authorization [...]
Article 20: Approval of foreign subsidiaries and representative offices 
Foreign credit and payment institutions can only establish themselves in Burundi as subsidiaries or representative offices.
The opening in Burundi of subsidiaries and representative offices of these establishments are subject to approval by the Central Bank.
The requesting credit institution or payment institution must have obtained the agreement of the banking supervisory authority of its country of origin. [...]" (Law No. 1/17 of August 22, 2017 governing banking activities)
Law No. 1/17 of August 22, 2017 governing banking activities
[<a href="">https//investburundi.bi/wp-content/uploads/2023/02/Burundi-Loi-2017-17-bancaire.pdf</a>]