Business Registration in Morocco: Guide for Foreign Investors

Why the SARL Is the Preferred Structure

The SARL is Morocco's equivalent of a limited liability company. Key advantages: no minimum capital requirement (Loi 5-96, Art. 46), 100% foreign ownership permitted, no local partner requirement, no nationality restriction for directors.

Step-by-Step Registration Process

Step 1: Company Name Approval (Certificat Négatif) — Obtain from OMPIC online via DirectEntreprise. Timeline: 24 hours.

Step 2: Articles of Association (Statuts) — Define governance, share capital, shareholder rights. No notarial involvement required for SARL.

Step 3: Legalisation of Signatures — At local commune.

Step 4: Tax Registration (Enregistrement) — With DGI for tax ID number.

Step 5: Commercial Registry — Filing at Tribunal de Commerce. Generates RC number and ICE (15-digit unique business ID).

Step 6: Publication — In Bulletin Officiel and a journal of legal announcements.

Step 7: CNSS Registration — Mandatory for all employers regardless of headcount.

Timeline and Costs

Full SARL incorporation in approximately 5 calendar days via DirectEntreprise. Total costs approx. MAD 1,600 (~€150): Certificat Négatif 230 MAD, signature legalisation 150 MAD, enregistrement 200 MAD, commercial registry 475 MAD, publications 500 MAD.

Digital Infrastructure

Morocco’s registration system is fully digital via DirectEntreprise: electronic filing, e-signatures, e-payment, electronic Modèle J (certificate of incorporation).

Beneficial Ownership Requirements

Under Decree 2-21-708, companies must file beneficial ownership information within one month of incorporation with OMPIC. Includes full name, ID, date of birth, and nature of interest.

Key Considerations for Foreign Investors

Sector-specific restrictions apply in banking (Loi 103-12), insurance, mining (Loi 33-13), and telecoms (Loi 24-96). Foreign currency accounts regulated by Office des Changes (IGOC 2024). Dividend and capital repatriation guaranteed under Investment Charter (Loi-cadre 03-22).

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