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Company Formation · Morocco

Set up a company in Morocco.

North Africa's strategic gateway. The only country with both an EU and a US free trade agreement. Home to Casablanca Finance City and Africa's largest port at Tangier Med. The 2026 finance law has unified corporate tax at 20% for most businesses.

20% Standard CIT 2026
CFC 5-Yr Tax Holiday
EU+US FTA Coverage
Tangier Africa's #1 Port
17 Years Founded 2009 · UK Reg. 11575770
100+ Jurisdictions Covered
40+ Senior Consultants Globally
20+ Sectors Served
48 Hours Quote Turnaround
At a Glance

Morocco — the essentials.

Capital
RabatCasablanca is the commercial capital
Population
~37 millionAfrica's 5th-largest GDP
Currency
Moroccan Dirham (MAD)Managed by Bank Al Maghrib
Languages
Arabic & BerberFrench standard in business; Spanish in north
Time Zone
GMT+1 (CET)GMT during Ramadan
Trade Agreements
EU · US · UAE · AfCFTAUnique FTA portfolio
Legal System
Civil lawFrench tradition + Loi sur les Sociétés
Corporate Register
CRI & OMPICCentre Régional d'Investissement · OMPIC
Why Morocco

Six reasons clients choose Morocco.

North Africa's most stable economy and the natural bridge between Europe and the African continent. The only African country with both a US and an EU free trade agreement. A unified 20% corporate tax for most businesses from 2026, plus a sophisticated set of incentive regimes for finance, industry, and exports.

EU US UAE

EU + US + UAE FTAs — unique

Morocco is the only African country with free trade agreements with both the European Union (since 2000) and the United States (since 2006). UAE FTA added in 2024. Plus AfCFTA membership and 50+ double-tax treaties. The treaty network is unmatched on the continent — manufactured goods can ship duty-free to the world's two largest consumer markets.

CFC

Casablanca Finance City status

CFC status delivers a 5-year total CIT exemption, then a permanent 20% rate (no 35% step-up regardless of profit). Employees can opt for a 20% flat income-tax rate for up to 10 years (revised under FL 2026). Total exemption from withholding tax on dividends paid to non-resident shareholders. Africa's top-ranked international financial centre.

IAZ

Industrial Acceleration Zones

IAZ (Zones d'Accélération Industrielle): 5-year total CIT exemption, then 20% thereafter. Customs and VAT exemption on capital goods and inputs. Tangier Tech, Kenitra, Atlantic Free Zone, Midparc Aeropolis, and others. The base for Renault, Stellantis, BYD, Boeing, Airbus, and dozens of tier-1 industrial operators.

Tangier Med — Africa's #1 port

Tangier Med is Africa's largest container port and one of the Mediterranean's top three. Less than 14 km across the Strait of Gibraltar from Spain. Direct shipping connections to 180+ ports across 70 countries. Combined with the 3,815 km rail network (including Africa's first high-speed train) and 21 international airports, Morocco's logistics infrastructure is the best on the continent.

20 2026

Unified 20% CIT in 2026

The Finance Law 2023 phased reform has now fully landed: 20% standard CIT for all companies with profit up to MAD 100 million, replacing the previous multi-tier system. 35% applies above MAD 100M for large companies. The convergence has produced the simplest, most predictable corporate-tax framework Morocco has ever offered to international investors.

Stable monarchy & consistent policy

The longest continuously-ruling monarchy in the Arab world. Decades of consistent investment-promotion policy through the Centre Régional d'Investissement (CRI) one-stop-shop network. Civil-law system rooted in French tradition. Independent judiciary. Africa's most predictable rule-of-law environment for civil-law-aligned businesses.

Business Structures

Choose the right vehicle — six options.

Most international clients use the SARL (Société à Responsabilité Limitée) for foreign-owned subsidiaries — Morocco's equivalent of the LLC, modelled on the French civil-law form. The SA (Société Anonyme) is the route for larger operations and Casablanca Stock Exchange listings.

Structure Min. Capital Liability Best for Formation
SARLSociété à Responsabilité Limitée · Loi sur les Sociétés Most Used
 MAD 10,000
~USD 1,000
often waived in practice		 Limited to share capital The default for foreign-owned subsidiaries, services, manufacturing, technology, and most non-listed operating businesses. Single-member SARL/AU available. Modern, flexible, foreign-friendly. 2–4 weeks
SASociété Anonyme · Casablanca Stock Exchange-listable
 MAD 300,000
~USD 30,000
MAD 3M if listed (~USD 300k)		 Limited to share capital Larger businesses, regulated sectors (banking, insurance), Casablanca Stock Exchange listings, and businesses planning widely-held capital structures. 4–8 weeks
Branch (Succursale)Branch of foreign company
 None
Parent provides capital		 Parent company liable Foreign-headquartered groups establishing local presence without separate Moroccan entity. Faster to register; parent carries direct liability. Branches taxed at the same Moroccan CIT rates on Morocco-source profits. 2–4 weeks
Bureau de ReprésentationLiaison / representative office
 None
No commercial activity		 Parent company Marketing, market research, sourcing, and liaison activity only. Cannot conduct revenue-generating commercial transactions in Morocco. Useful for early-stage market entry. 3–5 weeks
SNC / SCSPartnerships · civil-law forms
 None statutory Personal / mixed SNC (Société en Nom Collectif): general partnership. SCS (Société en Commandite Simple): general + limited partners. Specialist legal/professional firms. Rarely used by international investors. 2–4 weeks
Sole ProprietorshipEntreprise Individuelle · local operators
 None Personal, unlimited Solo founders, freelancers, small-scale operations. Foreign investors should default to SARL for liability protection. Mentioned for completeness. 1–3 weeks
Tax & Compliance

The numbers that matter.

The headline figures every founder, finance director or international operator should know before they incorporate. Morocco's tax framework has been substantially simplified by the Finance Law 2023 phased reform now fully landed in 2026 — we model the live position.

20%
Standard CIT 2026
Unified 20% rate for all companies with net taxable profit up to MAD 100 million (the result of the Finance Law 2023 phased reform converging from 12.5%/28.25%/31% to a single 20%). Resident companies taxed on Morocco-source income; non-residents on Moroccan permanent-establishment profits.
35%
Large-Company CIT
Companies with net taxable profit equal to or greater than MAD 100 million pay 35% (up from 32% in 2023). CFC-status companies and companies in Industrial Acceleration Zones are excluded from the 35% bracket regardless of profit level.
20%
VAT (Standard Rate)
Standard rate 20%, applied across most goods and services. The Finance Law 2024-2026 phased reform is consolidating Morocco's VAT to a two-rate system: 10% (hotels, banks, lawyers, transport) and 20% (everything else). Reduced 7% and 14% rates phasing out by end of 2026. Digital services VAT introduced under FL 2024 for non-resident suppliers.
5-yr + 20%
CFC Status
Casablanca Finance City status: 5-year total CIT exemption from the date status is granted, then 20% permanent rate thereafter (no 35% step-up regardless of profit). Total exemption from withholding tax on dividends paid to non-resident shareholders. Eligible: financial services, professional services, holding companies, regional HQs.
5-yr + 20%
IAZ Industrial Zones
Industrial Acceleration Zones: 5-year total CIT exemption then 20% thereafter, plus customs and VAT exemption on capital goods and raw materials. Tangier Tech, Kenitra Atlantic, Midparc Aeropolis, Casablanca Free Zone, and others. Strong fit for export-oriented manufacturing, automotive, aerospace, and electronics.
10%
WHT (Non-Residents)
Phased down from 13.75% (2023) to 10% by 2026 under the Finance Law 2023. Applies to dividends, interest, royalties, and most service fees paid to non-residents. Treaty rates apply where Morocco has a double-tax treaty (50+ signed, ~40 in force). Long-term foreign-currency loans (>10 years) exempt.
8% optional
Construction / Engineering
Foreign contractors in engineering, construction, and assembly projects may opt for a flat 8% tax on contract value (net of VAT) instead of standard CIT. Useful for high-value project-based work. We model both options at the tendering stage.
0.25% min
Minimum Contribution
A minimum contribution of 0.25% of turnover applies to all companies regardless of profit or loss (0.15% for specific commodity sales). CFC and IAZ companies exempt during their initial 5-year period. Worth modelling during scenario planning — in some loss-making years it is the binding tax cost.
Office des Changes — the FX point worth understanding: Morocco operates currency controls administered by the Office des Changes. The dirham is managed (not freely convertible). Foreign capital injection into a Moroccan entity must be reported and registered to ensure future repatriation rights. Profits, dividends, and capital can be repatriated, but the documentation and reporting trail matters from day one. Get the structure right at incorporation, register foreign capital correctly, and document inter-company flows rigorously — the system works smoothly for those who follow it, and creates real friction for those who don't.
Formation Process

From decision to trading entity.

A realistic seven-step path. Most international clients with a SARL are operational within 2–4 weeks via the CRI one-stop shop. SA companies and CFC/IAZ status applications take longer due to authority approval — typically 6–10 weeks.

01

Discovery & structure design

Confirm the right vehicle (SARL, SA, Branch, CFC company, IAZ entity), shareholding, directorship, registered office, and tax position. Assess CFC status eligibility, IAZ siting, and Office des Changes capital-injection structure before a single document is signed.

Week 1
02

Name reservation with OMPIC

Company name reservation with OMPIC (Office Marocain de la Propriété Industrielle et Commerciale). Certificat négatif issued. Articles of Association (statuts) drafted in line with the Loi sur les Sociétés Commerciales, in French and/or Arabic.

Week 1–2
03

Notarisation & capital deposit

Articles of Association signed before a Moroccan notary (notaire) where required. Initial capital deposited into a blocked Moroccan bank account. For SARL, MAD 10,000 nominal (often waived in practice). For SA, MAD 300,000 minimum (MAD 3M if listing-track).

Week 2–3
04

CRI one-stop shop registration

Filing through the Centre Régional d'Investissement (CRI) one-stop shop. The CRI coordinates registration with the Commercial Court (Registre du Commerce), tax authority (DGI), and statistical office. Companies receive their Identifiant Commun de l'Entreprise (ICE) and tax identification number.

Week 2–4
05

Tax registration with DGI

Tax Identification Number (Identifiant Fiscal) issued by the Direction Générale des Impôts. Onboarding to the SIMPL-IS digital filing platform. VAT registration where applicable. Patente (taxe professionnelle) and Taxe de Services Communaux registration with local authorities.

Week 3–4
06

CNSS & AMO registration

Registration with the CNSS (Caisse Nationale de Sécurité Sociale) for employee social security and AMO (Assurance Maladie Obligatoire) for mandatory health insurance. Employment contracts drafted under the Labour Code. CNSS employer number activated.

Week 3–5
07

Sectoral licences & CFC application

CFC status application via the Casablanca Finance City Authority (CFCA) where applicable. IAZ siting agreement where applicable. Sector-specific licences: BAM for banking/payments, ACAPS for insurance, AMMC for capital markets, ANRT for telecom. Office des Changes registration of foreign capital.

Week 4–10
What We Handle

A single partner. End to end.

You get one senior point of contact at Grant & Graham. Behind that, a vetted local network of avocats, notaires, expert-comptables, banks, and CFC/CRI specialists we have worked with for years on the ground in Casablanca, Rabat, and Tangier.

01 · ADVISORY

Structure & sector strategy

Choosing the right vehicle (SARL, SA, Branch, CFC, IAZ), modelling whether the project qualifies for Casablanca Finance City status or Industrial Acceleration Zone siting, Office des Changes capital structure, and exit-tax positioning before a single document is signed.

02 · LEGAL

Statuts & notarisation

Articles of Association drafted in French and/or Arabic, OMPIC name reservation, notarisation where required, Registre du Commerce filing, Beneficial Ownership disclosure, and CFC application drafting via the CFCA where in scope.

03 · FILING

CRI, OMPIC & DGI

CRI one-stop-shop incorporation, OMPIC registration, DGI tax registration via SIMPL-IS, VAT registration, patente and taxe de services communaux setup, CNSS and AMO registration, plus ongoing monthly VAT, IS instalments, and IR/PAYE compliance.

04 · BANKING

MAD accounts & Office des Changes

Direct introductions to leading Moroccan commercial banks (Attijariwafa, BMCE/Bank of Africa, Banque Populaire, BMCI, CIH, Société Générale Maroc). We coordinate Office des Changes registration of foreign capital and ensure the documentation supports future repatriation of profits, dividends, and capital.

05 · FINANCE

Accounting & tax filings

Bookkeeping under Moroccan accounting standards, payroll, monthly VAT (20%), quarterly IS instalments, annual financial statements, IS returns within 3 months of year-end (or 6 months for FY-aligned companies), transfer pricing documentation, and Pillar Two top-up tax modelling where applicable.

06 · PEOPLE

HR, employment & permits

Employment contracts under the Labour Code (Code du Travail), CNSS and AMO registration, CFC employee 20% flat IT election where applicable, work permit (titre de séjour avec autorisation de travail) applications, and relocation logistics for senior team members moving to Casablanca, Rabat, or Tangier.

Best Fit When…

Morocco is the right answer for specific situations.

Six clear scenarios where Morocco beats every other landing in the region. Where these don't apply, Egypt, Tunisia, the UAE, or a European holding structure may suit better — and we will say so.

You need a Europe-Africa bridge

14 km from Spain across the Strait of Gibraltar. Free trade with the EU. Africa's #1 port at Tangier Med. The 3,815 km rail network including Africa's first high-speed train. The most natural manufacturing and logistics base for serving both European and African markets from one site.

You are a financial-services HQ

Casablanca Finance City delivers a 5-year total CIT holiday, then a permanent 20% rate (no 35% step-up), employee 20% flat IT, and 0% WHT on dividends to non-resident shareholders. Africa's top-ranked financial hub. The default landing for asset managers, holding companies, regional banking HQs, and fintechs serving the African continent.

You are an export manufacturer

IAZ status delivers a 5-year total CIT exemption then 20%, plus customs and VAT exemption on capital goods and inputs. Tangier Tech, Kenitra Atlantic, Midparc Aeropolis. Renault, Stellantis, BYD, Boeing, Airbus, and Safran are all here. The strongest African base for automotive, aerospace, electronics, and renewables manufacturing serving Europe and the US.

You sell to both EU and US markets

Morocco is the only African country with FTAs with both the European Union (since 2000) and the United States (since 2006). Plus UAE FTA (2024) and AfCFTA. Manufactured goods can ship duty-free to the world's two largest consumer markets — a structural advantage that cannot be replicated elsewhere on the continent.

You operate in a francophone context

French is the dominant business language. Civil-law system rooted in French tradition. Direct cultural and commercial fit for businesses headquartered in France, Belgium, Switzerland, Quebec, and francophone West Africa. The Moroccan operating environment will feel familiar to teams accustomed to French civil-law commercial practice.

You want stability and predictability

The longest continuously-ruling monarchy in the Arab world. Decades of consistent investment-promotion policy. The CRI one-stop-shop network has been operating reliably since 2002. Independent judiciary. Africa's most predictable rule-of-law environment for civil-law-aligned businesses, and one of the most politically stable countries on the continent.

Cost & Timeline Planner

Get an estimate in 30 seconds.

Three quick questions. We will give you a realistic cost range and timeline for your situation, and route the answers straight into a fixed-price quote request.

Step 1 of 3
01 · Structure
Which company structure are you considering?
02 · Setup
How is the project structured?
03 · Services
What do you need from us?
Estimated for your situation
All-in cost (one-off)
—
Timeline to operational
—
Recommended structure
—
Estimate only in USD. Excludes capital deposit (SARL ~MAD 10k often waived; SA from MAD 300k). CFC and IAZ status applications add advisory time. Final quote depends on specific scope, sector requirements, and any sector-specific licences. Includes CRI/OMPIC incorporation, DGI tax registration, CNSS/AMO setup, and Grant & Graham senior advisory at $295/hour.
Frequently Asked

The questions we get asked most.

How long does it actually take to set up a SARL in Morocco?
Realistically 2–4 weeks from instruction to operational entity with bank account, OMPIC name reservation, CRI registration, and DGI tax registration. The CRI one-stop-shop has been operating since 2002 and is genuinely efficient for standard SARLs. SA companies run 4–8 weeks; CFC status applications typically add 4–6 weeks; IAZ siting agreements add 6–10 weeks; sector-licensed entities (banking, insurance) longer still.
What does the 2026 finance law mean for my CIT bill?
The Finance Law 2023 phased a four-year reform that has now fully landed in 2026. Companies with net taxable profit up to MAD 100 million pay a unified 20% (down from a multi-tier system that ranged from 10% to 31% pre-reform). Companies above MAD 100M pay 35% (up from 32%). Credit institutions and insurance companies pay 40%. The 2026 framework is the simplest and most predictable Moroccan corporate-tax regime in modern history.
Should I apply for Casablanca Finance City status?
If your business is in financial services, professional services, holding/treasury, or regional headquartering, the answer is almost always yes. CFC status delivers a 5-year total CIT exemption from the date status is granted, then a permanent 20% rate (CFC companies are excluded from the 35% step-up regardless of profit). Plus 0% WHT on dividends paid to non-resident shareholders, and a 20% flat IT option for employees for up to 10 years. Real physical presence in Casablanca is required — this is not a paper regime.
How do Office des Changes currency rules affect my business?
Morocco operates currency controls through the Office des Changes. The dirham is managed (not freely convertible). The practical implication: foreign capital injection into a Moroccan entity must be reported and registered to ensure future repatriation rights. Dividends, profits, and capital can all be repatriated to non-resident shareholders, but the documentation trail must be solid. Get the structure right at incorporation, register foreign capital correctly via the bank, and the system works smoothly. Skip the registration and repatriation becomes painful.
Do shareholders or directors need to be Moroccan residents?
No. Foreign nationals can be both shareholders and directors of a Moroccan SARL or SA. There is no nationality or residency requirement at the company level. For practical purposes, having at least one director with French (or Arabic) language capability streamlines local administration. Work permits (titre de séjour avec autorisation de travail) are required for non-resident expatriate employees, processed via the relevant prefecture with sector-specific support where the investment qualifies.
What ongoing compliance does a Moroccan company face?
Annual financial statements filed under Moroccan accounting standards, annual IS (corporate income tax) return within 3 months of fiscal year-end, monthly VAT returns where annual turnover exceeds MAD 1 million (filed via SIMPL-IS), monthly IR (income tax) and CNSS/AMO filings for employees, quarterly IS instalments based on prior-year liability, annual patente (taxe professionnelle) and taxe de services communaux, plus transfer pricing documentation for cross-border related-party transactions. Late filing penalties: 5% (within 30 days), 15% (after 30 days), 20% (non-filing).
How They Compare

Morocco vs Egypt vs Tunisia.

The three North African economies international investors most often weigh against each other when entering the region. A side-by-side comparison on the numbers that actually matter.

  Morocco Egypt Tunisia
Population ~37 millionMaghreb & Atlantic gateway ~110 millionLargest in the region; Suez access ~12 millionSmallest; EU FTA
Standard CIT 20%35% above MAD 100M; CFC/IAZ 5-yr 0% 22.5%40.55% petroleum; SCFZ 0% 15%10% for export; 35% banks/finance
VAT 20%10% reduced; consolidating to two rates 14%Plus schedule taxes on specific items 19%13%/7% reduced rates
Trade Agreements EU + US + UAE FTAsPlus AfCFTA · unique combination EU Association · AfCFTACOMESA, Mercosur agreements EU FTA · AfCFTADCFTA negotiations ongoing
Currency / Forex MAD · managedOffice des Changes registration EGP · floating, volatileFlexible exchange rate since 2024 TND · managedCapital controls; constrained
Standout Feature EU+US FTA combo, CFC statusTangier Med Africa's #1 port Suez Canal & scaleSCFZ free zone, large domestic market Lowest standard CITEU FTA, smaller addressable market
Best Fit Europe-Africa bridge, financial HQ, manufacturing for EU+US export Domestic-scale plays, energy, logistics, MENA HQ Lower-cost manufacturing for EU export, services
Comparison data verified April 2026. Tax rates are headline figures — effective burdens vary by deductions, allowances, and structure. We can model the right answer for your situation in 48 hours.
Other Jurisdictions

Morocco is one of 100+ markets we cover.

If Morocco is not the right answer for your situation, here are the markets clients most often consider alongside it — particularly across North Africa, the wider continent, the Middle East, and the natural European alternatives.

Egypt

North Africa's largest market (~110M). Suez Canal access. SCZONE free zone with 0% CIT. Major industrial and logistics base for businesses with serious domestic-scale ambitions.

Set up in EG →

Tunisia

The other Maghreb peer. 15% standard CIT (lowest in the region), EU Free Trade Agreement, lower-cost manufacturing base for export-oriented operations.

Set up in TN →

United Arab Emirates

Free zone or mainland options. 9% corporate tax, gateway to MEA region, strong banking infrastructure. Many investors run African businesses through a Dubai or Abu Dhabi parent structure.

Set up in UAE →

France

Morocco's closest EU partner and largest investor. Civil-law tradition, language fit, 25% CIT, EU single market access. The natural European parent for a Moroccan operating company.

Set up in FR →

Ghana

West Africa's gateway. Host of the AfCFTA Secretariat in Accra. Common-law, English-speaking. 2026 GIPA reform eliminated minimum capital for non-trading FDI.

Set up in GH →

South Africa

Africa's most developed economy. Sophisticated financial services, deep capital markets, English-language jurisdiction, strong treaty network. The natural Africa HQ for many groups.

Set up in ZA →
Start the Conversation

Ready to set up in Morocco?

Tell us what you are trying to do and we will come back inside 48 hours with a fixed-price quote, realistic timeline, and an honest read on the right vehicle, CFC eligibility, IAZ siting, and Office des Changes capital structure. No pressure to commit — just a clear answer from a senior adviser.