Overview:

There are several reasons why people consider Morocco as one of the best destinations for investment and business incorporation. Morocco is known for its strong and stable economy, qualified labor force, infrastrecture quality as well as being a competitive platform for export.

Process:

To incorporate your business in Morocco, you will need to:

1. Get a negative certificate:
This document is used to prove that your chosen trade name is not already used and that you can use it to register in the Commercial Register.

You can do that:

• Online: www.directinfo.ma
• At OMPIC or its regional branches
• At the Regional Investment Center / OMPIC counter

2. Establish Statutes:

You will need to prepare these contractual provisions, which define the rules applicable to a given legal situation. And you will need to consult a law firm to get it done.

The statutes can take one of two forms: a notarial or private act.

3. Establish the share allotment letters and transfer acts:

You will need the share allotment letter as a promise of cash contribution. You can consult a legal firm to get this step completed.

4. Block the paid-up capital amount:

You may deposit the amount within 8 days of receipt of the funds by the company. You will then receive a certificate of the blocking of the paid-up capital, delivered by the bank.

5. Establish the declaration of share allotment and the remittance:

The ballots drawn up by the notary and the certificate of blocking the paid-up capital of the bank.

6. Deposit of acts of company creation and formalities of registration:

Your company creation files will be processed at the Regional Investment Center by the representatives of the different administrations involved in the creation.

7. Get Business patent and tax ID registration

8. Register with the commercial register:

You will need to go to the Commercial Court represented within the Regional Center of Investment.

9. Get the affiliation to the social security administration (CNSS)

10. Get the publication in a legal announcement gazette and the official bulletin:

Once you register your company in the commercial register, and within a period not exceeding one month, two advertisements will be mandatory in a legal announcement gazette and the Official Bulletin.

Required Documents:

For the incorporation process, you will need to prepare these documents:

• A printed application to withdraw from the Regional Investment Center
• ID or passport
• A Copy of ID or passport if the investor will be represented by another person
• Share allotment letters signed par the underwriters
• Simplified joint stock company: statutes, negative certificate, identity documents, share allotment letters (For LC) and all documents except share allotment letter (For LLC)
• The bulletins established by the notary and the certificate of the blocking of the paid-up capital from the bank
• Statutes
• Lease contract or acquisition act
• The minutes of the appointment of the manager or the appointment of the chairman, auditors, administrators
• For the business tax: license or diploma for the regulated activities, agreement in principle for the classified establishments, lease contract or domiciliation attestation by a legal entity

Costs:

The cost for an LLC incorporation in Morocco is around $5,300.

The setup costs, including the company incorporation, the setup of the corporate bank account, the legal registered office as well as the government fees, are around $12,625.

You can check the costs based on the entity type, here.

References
1. Invest in Morocco, accessed October 2020, http://www.invest.gov.ma/?Id=1&lang=en 2. Healy Consultants Group PLC, accessed October 2020, https://www.healyconsultants.com/