{"id":5666,"date":"2016-11-29T11:02:01","date_gmt":"2016-11-29T11:02:01","guid":{"rendered":"http:\/\/localhost\/test_manager\/business-tips-doing-business-in-morocco\/"},"modified":"2019-07-10T10:22:32","modified_gmt":"2019-07-10T10:22:32","slug":"business-tips-doing-business-in-morocco","status":"publish","type":"post","link":"https:\/\/managersoffice.net\/el\/business-tips-doing-business-in-morocco\/","title":{"rendered":"Business Tips: Doing Business in Morocco"},"content":{"rendered":"

THE ECONOMY<\/strong><\/span><\/span><\/p>\n

BUSINESS ENVIRONMENT<\/strong><\/span><\/span><\/p>\n

Morocco is uniquely positioned as a regional centre for trade, manufacturing,\u00a0<\/span><\/span>warehousing, redistribution, sales and call centres, and has an array of IT services reaching\u00a0<\/span><\/span>the European Union (EU), West-, Central- and North Africa, the Middle East and Eastern\u00a0<\/span><\/span>Europe.<\/span><\/span><\/p>\n

It is party to trade agreements which allow the country to trade tariff-free in major\u00a0<\/span><\/span>markets throughout these regions. With its special location, the strong endorsement of its\u00a0<\/span><\/span>financial sector by the World Bank, growing ties with the US, and increased use of English\u00a0<\/span><\/span>in business, Morocco is the best location for companies wanting to reach these markets\u00a0<\/span><\/span>without the hassle of learning new languages and business customs.<\/span><\/span><\/p>\n

Morocco is a significant market opportunity for foreign companies and investors for many\u00a0<\/span><\/span>reasons. Morocco\u2019s strategic trading location, large consumer class, potent economic\u00a0<\/span><\/span>growth, more than USD 100 billion annual gross domestic product (GDP) and successful\u00a0<\/span><\/span>implementation of financial restructuring programmes supported by the World Bank, the\u00a0<\/span><\/span>International Monetary Fund and the Paris Club, make this North African nation very attractive to investors.<\/span><\/span><\/p>\n

ECONOMIC GROWTH<\/strong><\/span><\/span><\/p>\n

Morocco is a fairly stable economy with continuous growth over the past half-a-century.\u00a0<\/span><\/span>Current GDP per capita grew 47% in the 1960\u2019s reaching a peak growth of 274% in the\u00a0<\/span><\/span>1970\u2019s. However, this proved unsustainable and growth scaled back sharply to just 8.2% in\u00a0<\/span><\/span>the 1980\u2019s, 8.9% in the 1990\u2019s, and 6.2 % in the early years of 2000.<\/span><\/span><\/p>\n

Government reforms and steady yearly growth in the region of 4\u20135% from 2000 to 2007,\u00a0<\/span><\/span>including 4.9% year-on-year growth in 2003\u20132007 helped the Moroccan economy to\u00a0<\/span><\/span>become much more robust compared to a few years ago. For 2015, the GDP growth is\u00a0<\/span><\/span>estimated at 4.6% thanks to a spike in agriculture output.<\/span><\/span><\/p>\n

Economic growth is far more diversified, with new service and industrial poles, like\u00a0<\/span><\/span>Casablanca and Tangier, developing.<\/span><\/span><\/p>\n

SETTING UP A BUSINESS<\/strong><\/span><\/span><\/p>\n

Foreign investors who intend to conduct commercial activities in Morocco can choose from\u00a0<\/span><\/span>a wide range of legal entities. The choice will vary depending on business priorities.<\/span><\/span><\/p>\n

INDIVIDUALS<\/strong><\/span><\/span><\/p>\n

There are two possible ways for an individual to go into business:<\/span><\/span><\/p>\n

– As a sole trader (Entreprise personnelle<\/em>)<\/span><\/span><\/p>\n

– As the sole partner of a single-shareholder limited liability company (Soci\u00e9t\u00e9 \u00e0\u00a0<\/em><\/span><\/span>Responsabilit\u00e9 Limit\u00e9e Associe Unique<\/em>).<\/span><\/span><\/p>\n

SOLE TRADER<\/strong><\/span><\/span><\/p>\n

A sole trader is an individual who carries on a business on a regular basis.<\/span><\/span><\/p>\n

The sole trader is wholly responsible for his\/her business and his\/her personal possessions\u00a0<\/span><\/span>may be used as a guarantee in case of financial difficulty.<\/span><\/span><\/p>\n

SOLE-PARTNER PRIVATE LIMITED COMPANY<\/strong><\/span><\/span><\/p>\n

A private limited company with only one partner (Soci\u00e9t\u00e9 Responsabilit\u00e9 Limit\u00e9e Associe\u00a0<\/em><\/span><\/span>Unique<\/em>)has the same legal requirements as a limited liability company (as described in the\u00a0<\/span><\/span>section on the next page).<\/span><\/span><\/p>\n

The liability of the single partner is limited to the amount of their investment.<\/span><\/span><\/p>\n

LIMITED COMPANIES \u2013 PUBLIC LIMITED COMPANY (<\/strong>SOCI\u00c9T\u00c9 ANONYME <\/em><\/strong>\u2013 SA)<\/strong><\/span><\/span><\/p>\n

The Moroccan legal form closest to a US corporation is the Soci\u00e9t\u00e9 Anonyme<\/em>(SA).\u00a0<\/span><\/span><\/p>\n

The incorporation of an SA requires a minimum of 5 shareholders and a minimum capital\u00a0<\/span><\/span>of 300,000 MAD (approximately USD 30,000) or MAD 3 million (approximately USD\u00a0<\/span><\/span>300,000) if the shares are to be quoted on the stock exchange.<\/span><\/span><\/p>\n

At least 100% of the share capital must be subscribed upon incorporation; only 25% of this\u00a0<\/span><\/span>must be paid upon the setting up. The remaining 75% must be paid within the following\u00a0<\/span><\/span>three years.<\/span><\/span><\/p>\n

The liability of shareholders is limited to the amount of their investment. The shareholders\u00a0<\/span><\/span>meet at least once a year to approve the financial statements, to decide whether profits\u00a0<\/span><\/span>will be distributed or retained and also to appoint\/dismiss directors or members of the\u00a0<\/span><\/span>supervisory board (Conseil de surveillance<\/em>) and statutory auditors (Commissaires aux\u00a0<\/em><\/span><\/span>Comptes<\/em>).<\/span><\/span><\/p>\n

A simple majority rule applies in annual shareholders\u2019 meetings. If major decisions have to\u00a0<\/span><\/span>be made, such as a merger or a change in the articles of association, a shareholders\u2019\u00a0<\/span><\/span>meeting must be held where qualified majority rule applies (two-thirds).<\/span><\/span><\/p>\n

PRIVATE LIMITED COMPANY (<\/strong>SOCIETE A RESPONSABILITE LIMITEE<\/em><\/strong>\u2013 SARL)<\/strong><\/span><\/span><\/p>\n

A SARL may have no more than 50 shareholders.<\/span><\/span><\/p>\n

Shareholders in a private limited company are liable for their capital contribution. No legal\u00a0<\/span><\/span>minimum amount is required. The amount of the capital is fixed by the shareholders.<\/span><\/span><\/p>\n

A SARL is run by one or more managers (g\u00e9rants<\/em>), who may be appointed by the articles or\u00a0<\/span><\/span>by a 3\/4 majority decision of shareholders. They may be chosen among the shareholders\u00a0<\/span><\/span>themselves or among third parties. The manager makes all management decisions on\u00a0<\/span><\/span>behalf of the company and he\/she may be held personally liable under civil and criminal\u00a0<\/span><\/span>law.<\/span><\/span><\/p>\n

PARTNERSHIPS<\/strong><\/span><\/span><\/p>\n

GENERAL PARTNERSHIP (<\/strong>SOCI\u00c9T\u00c9 EN NOM COLLECTIF<\/em><\/strong>\u2013 SNC)<\/strong><\/span><\/span><\/p>\n

A general partnership is a commercial company in which all of the associates are\u00a0<\/span><\/span>considered as merchants and jointly and severally liable for the partnership\u2019s liabilities.<\/span><\/span><\/p>\n

Despite this significant liability drawback, SNCs are often chosen because of their flexibility\u00a0<\/span><\/span>(there is no minimum share capital, no board of directors, a minimum of two partners and\u00a0<\/span><\/span>the possibility of dividend rights existing regardless of voting rights and capital\u00a0<\/span><\/span>contributions).<\/span><\/span><\/p>\n

The SNC is not directly subject to income tax. Profits are taxable as part of each member\u2019s\u00a0<\/span><\/span>income in proportion to their interest in the partnership.<\/span><\/span><\/p>\n

LIMITED PARTNERSHIP (<\/strong>SOCI\u00c9T\u00c9 EN COMMANDITE SIMPLE <\/em><\/strong>\u2013 SCS)\u00a0<\/strong><\/span><\/span><\/p>\n

The SCS structure, rarely used in Morocco, includes:<\/span><\/span><\/p>\n

One or more general partners (called commandit\u00e9s<\/em>) who manage the company and are\u00a0<\/span><\/span>responsible for debts incurred by the company, or\u00a0<\/span><\/span>One or more limited partners (called commanditaires<\/em>) whose liability is limited to their\u00a0<\/span><\/span>capital contribution. Limited liability partners are not allowed to participate in the\u00a0<\/span><\/span>management of the company. Their legal status is similar to that of a partner in a SARL.<\/span><\/span><\/p>\n

There is no legal minimum capital.<\/span><\/span><\/p>\n

LIMITED PARTNERSHIP BY SHARES (<\/strong>SOCI\u00c9T\u00c9 EN COMMANDITE PAR ACTIONS <\/em><\/strong>\u2013 SCA)<\/strong><\/span><\/span><\/p>\n

This type of partnership is similar to the previous one except that the shares are negotiable\u00a0<\/span><\/span>and the status of the limited liability partners (commanditaires<\/em>) is similar to that of\u00a0<\/span><\/span>shareholders in an SA. Members of limited partnerships by shares cannot be less than\u00a0<\/span><\/span>three.<\/span><\/span><\/p>\n

OTHER FORMS OF BUSINESS ORGANISATION<\/strong><\/span><\/span><\/p>\n

INTERCOMPANY PARTNERSHIP (<\/strong>GROUPEMENT D\u2019INT\u00c9R\u00caT \u00c9CONOMIQUE <\/em><\/strong>\u2013 GIE)<\/strong><\/span><\/span><\/p>\n

A GIE is not a company but an association of companies willing to develop some of their\u00a0<\/span><\/span>activities together (eg research, marketing, joint sales and exports) whilst retaining their\u00a0<\/span><\/span>individuality and independence in other areas. A GIE has a legal personality and may be\u00a0<\/span><\/span>created with or without capital. Its objectives may be civil or commercial. A GIE is flexible\u00a0<\/span><\/span>and members are free to define its internal regulations. A GIE is transparent for tax\u00a0<\/span><\/span>purposes. Its members are liable for its debts.<\/span><\/span><\/p>\n

JOINT VENTURE (SOCIETE EN PARTICIPATION \u2013 SEP)<\/strong><\/span><\/span><\/p>\n

A joint venture is not ordinarily disclosed to third parties. The partners make all the\u00a0<\/span><\/span>management decisions. Partners are individually liable to third parties and share the\u00a0<\/span><\/span>operating results. A SEP is required to register each active partner with the Trade Register.<\/span><\/span><\/p>\n

It can be a civil or a commercial entity.<\/span><\/span><\/p>\n

TAXES<\/strong><\/span><\/span><\/p>\n

BUSINESS<\/strong><\/span><\/span><\/p>\n

The taxation of business profits follows the territoriality concept:<\/span><\/span><\/p>\n

Corporations, whether or not their head office is in Morocco, are taxed on their<\/span><\/span>pr oducts, profits and revenues:<\/span><\/p>\n

\u2212 This includes all assets they own or activities they perform (whether lucrative or\u00a0<\/span><\/span>occasional operations) in Morocco<\/span><\/span><\/p>\n

\u2212 It also includes the right to tax given to Morocco under agreements for the avoidance\u00a0<\/span><\/span>of double taxation with respect to income taxes.<\/span><\/span><\/p>\n

Manager\u2019s Office
\n<\/strong><\/span><\/span>Financial Dept<\/strong><\/span><\/span><\/p>","protected":false},"excerpt":{"rendered":"

Morocco is the best location for companies wanting to reach these markets without the hassle of learning new languages and…<\/p>","protected":false},"author":1,"featured_media":7869,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":""},"categories":[153],"tags":[],"yoast_head":"\nBusiness Tips: Doing Business in Morocco - Manager's Office<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/managersoffice.net\/el\/business-tips-doing-business-in-morocco\/\" \/>\n<meta property=\"og:locale\" content=\"el_GR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Business Tips: Doing Business in Morocco - Manager's Office\" \/>\n<meta property=\"og:description\" content=\"Morocco is the best location for companies wanting to reach these markets without the hassle of learning new languages and…\" \/>\n<meta property=\"og:url\" content=\"http:\/\/managersoffice.net\/el\/business-tips-doing-business-in-morocco\/\" \/>\n<meta property=\"og:site_name\" content=\"Manager's Office\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Managers-Office-131795126893693\" \/>\n<meta property=\"article:published_time\" content=\"2016-11-29T11:02:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-07-10T10:22:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/managersoffice.net\/wp-content\/uploads\/2016\/11\/flag-morocco.png\" \/>\n\t<meta property=\"og:image:width\" content=\"300\" \/>\n\t<meta property=\"og:image:height\" content=\"193\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ManagersOffice\" \/>\n<meta name=\"twitter:site\" content=\"@ManagersOffice\" \/>\n<meta name=\"twitter:label1\" content=\"\u03b5\u03ba\u03c4\u03b9\u03bc\u03ce\u03bc\u03b5\u03bd\u03bf\u03c2 \u03c7\u03c1\u03cc\u03bd\u03bf\u03c2 \u03b4\u03b9\u03b1\u03b2\u03ac\u03c3\u03bc\u03b1\u03c4\u03bf\u03c2\">\n\t<meta name=\"twitter:data1\" content=\"6 \u03bb\u03b5\u03c0\u03c4\u03ac\">\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Organization\",\"@id\":\"https:\/\/managersoffice.net\/#organization\",\"name\":\"Manager's Office\",\"url\":\"https:\/\/managersoffice.net\/\",\"sameAs\":[\"https:\/\/www.facebook.com\/Managers-Office-131795126893693\",\"https:\/\/twitter.com\/ManagersOffice\"],\"logo\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/managersoffice.net\/#logo\",\"inLanguage\":\"el\",\"url\":\"https:\/\/managersoffice.net\/wp-content\/uploads\/2021\/01\/MOFLogoSEO.jpg\",\"width\":160,\"height\":160,\"caption\":\"Manager's Office\"},\"image\":{\"@id\":\"https:\/\/managersoffice.net\/#logo\"}},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/managersoffice.net\/#website\",\"url\":\"https:\/\/managersoffice.net\/\",\"name\":\"Manager's Office\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/managersoffice.net\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/managersoffice.net\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"el\"},{\"@type\":\"ImageObject\",\"@id\":\"http:\/\/managersoffice.net\/el\/business-tips-doing-business-in-morocco\/#primaryimage\",\"inLanguage\":\"el\",\"url\":\"https:\/\/managersoffice.net\/wp-content\/uploads\/2016\/11\/flag-morocco.png\",\"width\":300,\"height\":193},{\"@type\":\"WebPage\",\"@id\":\"http:\/\/managersoffice.net\/el\/business-tips-doing-business-in-morocco\/#webpage\",\"url\":\"http:\/\/managersoffice.net\/el\/business-tips-doing-business-in-morocco\/\",\"name\":\"Business Tips: Doing Business in Morocco - Manager's Office\",\"isPartOf\":{\"@id\":\"https:\/\/managersoffice.net\/#website\"},\"primaryImageOfPage\":{\"@id\":\"http:\/\/managersoffice.net\/el\/business-tips-doing-business-in-morocco\/#primaryimage\"},\"datePublished\":\"2016-11-29T11:02:01+00:00\",\"dateModified\":\"2019-07-10T10:22:32+00:00\",\"inLanguage\":\"el\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"http:\/\/managersoffice.net\/el\/business-tips-doing-business-in-morocco\/\"]}]},{\"@type\":\"Article\",\"@id\":\"http:\/\/managersoffice.net\/el\/business-tips-doing-business-in-morocco\/#article\",\"isPartOf\":{\"@id\":\"http:\/\/managersoffice.net\/el\/business-tips-doing-business-in-morocco\/#webpage\"},\"author\":{\"@id\":\"https:\/\/managersoffice.net\/#\/schema\/person\/d86c6942b87563fc74d22f0156d63823\"},\"headline\":\"Business Tips: Doing Business in Morocco\",\"datePublished\":\"2016-11-29T11:02:01+00:00\",\"dateModified\":\"2019-07-10T10:22:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"http:\/\/managersoffice.net\/el\/business-tips-doing-business-in-morocco\/#webpage\"},\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/managersoffice.net\/#organization\"},\"image\":{\"@id\":\"http:\/\/managersoffice.net\/el\/business-tips-doing-business-in-morocco\/#primaryimage\"},\"articleSection\":\"News\",\"inLanguage\":\"el\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"http:\/\/managersoffice.net\/el\/business-tips-doing-business-in-morocco\/#respond\"]}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/managersoffice.net\/#\/schema\/person\/d86c6942b87563fc74d22f0156d63823\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/managersoffice.net\/#personlogo\",\"inLanguage\":\"el\",\"url\":\"https:\/\/managersoffice.net\/wp-content\/uploads\/2018\/12\/logocircle-100x100.png\",\"caption\":\"admin\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","_links":{"self":[{"href":"https:\/\/managersoffice.net\/el\/wp-json\/wp\/v2\/posts\/5666"}],"collection":[{"href":"https:\/\/managersoffice.net\/el\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/managersoffice.net\/el\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/managersoffice.net\/el\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/managersoffice.net\/el\/wp-json\/wp\/v2\/comments?post=5666"}],"version-history":[{"count":3,"href":"https:\/\/managersoffice.net\/el\/wp-json\/wp\/v2\/posts\/5666\/revisions"}],"predecessor-version":[{"id":7870,"href":"https:\/\/managersoffice.net\/el\/wp-json\/wp\/v2\/posts\/5666\/revisions\/7870"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/managersoffice.net\/el\/wp-json\/wp\/v2\/media\/7869"}],"wp:attachment":[{"href":"https:\/\/managersoffice.net\/el\/wp-json\/wp\/v2\/media?parent=5666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/managersoffice.net\/el\/wp-json\/wp\/v2\/categories?post=5666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/managersoffice.net\/el\/wp-json\/wp\/v2\/tags?post=5666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}