What are the steps to register a company in Morocco?

register a company in Morocco, is now simpler than ever. You can submit your incorporation application in just two days. With an inflation rate of less than 2%, Morocco becomes an attractive destination for your business endeavors.

The steps to register a company in Morocco can be summarized as follows:

1. Choose a company name and ensure its availability.
2. Draft the company’s articles of association and have them notarized.
3. Obtain a negative certificate (Certificat Negatif) from OMPIC(Office Marocain de la Propriété Industrielle et Commerciale).
4. Deposit the minimum share capital in a Moroccan bank.
5. Publish a notice of incorporation in a legal journal.
6. Register the company with the Trade Register (Registre de Commerce).
7. Obtain a tax identification number (N° d’identification fiscale).
8. Register with the social security authorities.
9. Obtain any necessary business licenses and permits.

What are the costs involved in company registration in Morocco?

The costs involved in company registration in Morocco can vary depending on several factors, including:

• Type of company: The registration fees and minimum share capital requirements differ for different types of entities, such as Société Anonyme (SA) and Société à Responsabilité Limitée (SARL).
• Location: Registration fees and business licenses may vary depending on the city or region where the company is registered.
• Complexity of business structure: Companies with complex structures may require additional legal and accounting services, increasing the overall cost.

Here are some estimated costs to consider:

• Registration fees: depending on business structure of company
• Legal fees: Variable depending on lawyer’s fees and complexity of company structure
• Notarial fees: Variable depending on document notarization requirements
• Share capital: Minimum capital varies depending on company structure (SA: MAD 100,000, SARL: MAD 10,000)
• Capital deposit fee: Variable depending on bank and account type
• Registered office address: Variable depending on location and size of office space
• Business licenses and permits: Variable depending on industry and location
• Bank account opening fee: Variable depending on bank and account type
• Accounting fees: Variable depending on accountant’s fees and company size
• Translation services: Variable depending on language and document volume

Companies registered in Morocco are subject to various taxes, including:

• Corporate income tax (CIT): 28% on net profits.
• Value added tax (VAT): 20% on the sale of goods and services.
• Professional tax (Taxe Professionnelle): Varies based on the company’s activity and location.
• Withholding tax: 10% on dividends, 20% on interest and royalties.
• Stamp duty: 1% on certain legal documents.
• Registration duties: 5% for land purchases, 4% for real estate transfers, 6% for goodwill transfers.

It is important to consult with a tax advisor to understand the specific tax obligations and comply with the Moroccan tax regulations.

4. What are the benefits of registering a company in Morocco?

There are several benefits to registering a company in Morocco, including:

• Strategic location: Morocco offers access to both the African and European markets.
• Stable and growing economy: The Moroccan economy is relatively stable and has been experiencing steady growth.
• Favorable business environment: The government has implemented policies to encourage foreign investment and business development.
• Skilled workforce: Morocco has a large and relatively inexpensive workforce.
• Tax incentives: The government offers various tax incentives to foreign companies.
• Access to major markets: Morocco has free trade agreements with several countries, including the European Union.
• Quality of life: Morocco offers a good quality of life with a pleasant climate and affordable living costs.

5. What are the challenges of registering a company in Morocco?

Some challenges to consider when registering a company in Morocco include:

• Bureaucracy: The registration process can be bureaucratic and time-consuming.
• Language barrier: Arabic and French are the main languages of business in Morocco, which can be a barrier for some foreign investors.
• Corruption: Corruption is a problem in Morocco, which can affect business operations.
• Limited access to financing: Access to financing can be difficult for small and medium-sized businesses.
• Infrastructure limitations: The infrastructure in Morocco is not as developed as in some other countries.

When considering Morocco company registration, investors must be aware of legal procedures, international regulations, and sufficient investment. Morocco’s Tanger-Med port offers access to the European market, promising good returns for traders and exporters. Understanding social, cultural, and political factors is crucial for business success. Seek assistance from BH Adviser for a smoother company registration process in Morocco.