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The Moroccan market for drug importation is experiencing a significant surge, driven by an annual consumption of 20 billion dirhams. This growth presents a lucrative opportunity for businesses in a sector where competition is still budding. The recent elimination of VAT on all medicines as per the 2024 Finance Bill further enhances the market’s appeal, making this the perfect time to consider establishing a Medications importation business in Morocco.
Morocco’s pharmaceutical sector is on the rise, offering a fertile ground for new ventures. The government’s decision to remove VAT on medicines, including previously exempt categories like cancer and chronic disease treatments, has made the market even more attractive to investors and entrepreneurs.
A critical first step in setting up your business is selecting the appropriate legal form. The choice between a Limited Liability Company (SARL) and a Public Limited Company (SA) hinges on your business size, long-term goals, and expansion plans. SARLs are typically favored by smaller enterprises due to their flexible management and limited liability, while SAs are ideal for larger ventures, offering financial stability and shareholder protection.
Once the legal form is chosen, drafting the articles of association is crucial. This document outlines your company’s operational rules, governance, and legal framework. It’s imperative to involve a professional, such as an accountant, to ensure precision and compliance with Moroccan laws.
The next step involves filing your company’s incorporation documents with the Commercial Court Registry. This process, though intricate, is vital for the legal establishment of your business. Following this, publishing a notice of incorporation in a legal journal is mandatory, signaling a major milestone in your business setup.
With your company officially established, the next crucial phase is obtaining the authorization to import drugs into Morocco. This involves submitting a detailed application to the Directorate of Medications and Pharmacy. The approval of this application is a decisive step, enabling you to commence your import operations.
Conclusion
The Moroccan Medications importation market is ripe with opportunities. With the right approach and adherence to legal procedures, your business can thrive in this expanding sector. For guidance and assistance through this process, do not hesitate to reach out to experts in the field.
Are you ready to embark on this promising venture? Contact us at BH ADVISER for expert advice and support.
Contact us at BH ADVISER for expert advice and support.
