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Although the Société Anonyme and the Société à Responsabilité Limitée are the best known and most widely used in Morocco, several other forms of company are legally recognized. These forms are grouped into 6 main groups, namely: partnerships, joint stock companies, companies with special regulations, sole proprietorships and economic interest groups.
This article gives you an overview of each category and the functioning of each company within it.
partnerships are companies that fall under the partnership regime. For a business to be recognized as a partnership, the partners must be approved to enter or leave the capital. All partners also have indefinite liability and bear all debts indefinitely. Finally, all partners in this type of company are taxed at IR and not the profits of the company. This is called “transparent taxation”. However, these partners can instead opt for the IS, which will exempt them from the IR.
The companies belonging to this legal form are :
The limited partnership in morocco: this is a company in which there are general partners and other limited partners. The SCS is a partnership made up of general partners who are generally traders who ensure the life of the company and assume the social debts. Some limited partners are in charge of the capital but do not manage the day-to-day life of the business. These limited partners contribute capital and commit themselves only to the amount they contribute.
General partnership in morocco: the SNC brings together a group of partners who are all responsible for the life of the business and who thus share all the expenses and debts. No minimum capital is required for the formation of such a company.
Joint venture in morocco: This type of company is not subject to any prior registration and is based solely on the relationship between the various partners. It can be created by a minimum of two people and can prove its existence by any means. The contribution that each partner has to invest can be in kind or cash and the partners are free to define their obligations and rights.
The capital company focuses mainly on the contributions of each partner and not on the person of the partner himself. In contrast to the partnership, where the focus and taxation are on the person, in the capital company more account is taken of the financial contribution that the partner makes. Thus, the capital company is characterized by :
The sale of shares in morocco: this means that each partner has the right to sell his shares to a third party without the agreement of the other partners.
It is possible to sell shares to a third party without the agreement of the other partners.
He can therefore leave the company by selling his shares at any time, and other partners can also be added to the capital easily.
Limited liability in morocco: each partner can protect his or her assets by being liable to the company only to the extent of the financial contribution made.
Advantageous taxation: none of the partners is subject to tax, but the company will instead be subject to corporation tax with a ceiling amount.
In the group of capital companies, we find :
The Société Anonyme in morocco: this is one of the most widely used legal forms in Morocco. To create a SA, at least 5 shareholders are required, who will be responsible for the amount of their contribution. In Morocco, the minimum capital to be recognised as a SA is set at 3,000,000 dirhams. However, a quarter of this amount can be released when the company starts up, but the rest must be paid up within a maximum of 3 years. An SA must also have a board of directors or a management board, which sometimes makes management complex.
The Société par Actions Simplifiée (SAS) in Morocco: This kind of business enterprise is created in Morocco while numerous agencies are part collectively to have an unmarried subsidiary to manipulate or a not unusual place discern business enterprise. It is a shape of criminal fame utilized by massive entities to facilitate control in their statutes in Morocco. The quantity of capital to be contributed through every shareholder is about DH 2,000,000
The restrained partnership with shares (SCA) in morocco: on this sort of company, there also are preferred companions and restrained companions who also are shareholders. The preferred companions are together and severely responsible for all of the company`s debts, even as the restrained companions are handiest responsible for the quantity they contribute. However, the proportion of capital isn’t always loose like that of the SCS.
Limited liability company (LLC) in morocco: This type of company is recognized as a legal person when it is registered in the commercial register. There may be a single partner or several shareholders, but not more than 50 people. The partner or partners are free to choose the amount of capital. However, if the capital is equal to or greater than 100,000 dhs, the amount must be blocked for at least a quarter. The capital can be split into small shares, and the partners’ contributions can also be in kind. The latter commit themselves up to the amount of their contribution and the company is subject to an audit by an auditor if the turnover exceeds 50,000,000 dirhams.
The special-purpose company in morocco
This type of company concerns special groups and allows different people to come together for cooperation or the pursuit of common interests.
The companies recognized in this group are:
This is a legal form in which a single natural person can set up the company itself. The liability of the legal representative is limited, but he or she is free to make decisions as he or she sees fit for the proper running of the company. A sole proprietorship does not need any capital to be established, so it is not always considered a company, but a simple entrepreneur who does not usually have funds. The structure is therefore more fragile in the event of losses.
The EIG is not considered a company in its own right, but rather an intermediate form. It can be formed by individuals or several companies whose objective is to pool their knowledge for the benefit of the members of the grouping.
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