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North African gateway to Europe and Africa
Region
AFRICA
Corporate Tax
20%
Setup Time
3 weeks
Currency
MAD
Morocco, at Africa's northwestern corner, offers access to African markets with strong European connections. The country's developing company registration framework supports business setup for regional operations and manufacturing.
With a population of 37 million, Morocco offers diverse living from cosmopolitan Casablanca to historic Marrakech. Arabic and Berber are official, with French widely used in business. The climate varies from Mediterranean to desert.
Healthcare varies significantly, with quality private facilities in major cities. Safety is generally good by regional standards. The cost of living is moderate.
The cultural richness, cuisine, and geographic accessibility attract both tourists and business operations.
Corporate tax rates range from 10% to 31% based on profit levels. Personal income tax reaches 38%. VAT applies at 20% standard rate. Free zones offer preferential regimes.
The Moroccan dirham is managed by Bank Al-Maghrib. The economy has diversified with automotive and aerospace manufacturing growing. Morocco serves as African gateway for many multinationals.
Company registration through the Regional Investment Center (CRI) has been streamlined. The SARL (limited liability company) is common. Foreign ownership is permitted in most sectors.
Company formation takes approximately 2-3 weeks. Minimum capital for SARL is MAD 1. Annual compliance includes accounting and tax obligations.
Morocco has not established crypto license frameworks, with Bank Al-Maghrib issuing warnings about cryptocurrency. The legal status remains uncertain, limiting crypto business formation.
Gambling is restricted under Islamic principles. Casino gaming exists for tourists but opportunities for commercial gambling license are limited.
Cultural and business practices may differ from Western expectations. Regulatory processes can require patience. Infrastructure outside major cities varies.
Banking access is available through Moroccan and international banks. Professional services are developing in Casablanca.
Morocco suits manufacturing operations, African market entry, and businesses leveraging European proximity for their business setup.
Local: SARL
Local: SA
Local: Succursale
| Corporate Tax Rate | 20% |
| Personal Income Tax Rate | 38% |
| VAT / Sales Tax | 20% |
| Capital Gains Tax | 20% |
| Withholding Tax | 10% |
| Reduced Corporate Tax Available | Yes |
| Non-Resident Withholding Exempt | No |
| Tax Treaty Network | Yes |
| Banking Access | MEDIUM |
| Financial Privacy | MEDIUM |
| Currency Controls | SOME |
| Local Bank Account Required | Yes |
| Non-Resident Bank Account Allowed | No |
| Physical Presence for Banking | Yes |
| Banks Restrictive (High Risk) | No |
| AML Officer Required | No |
| MLRO Required | No |
| Compliance Officer Required | No |
| Data Protection Officer Required | No |
| Bookkeeping Frequency | Annual |
| Local Bookkeeping Required | Yes |
| Mandatory Audit | No |
| License Required | Yes |
| Local Director Required | No |
| Local AML Director Required | Yes |
| Local Legal Address Required | Yes |
| Local Physical Office Required | Yes |
| Capital Maintained in Account | No |
| Compliance Program Required | Yes |
| Travel Rule Compliance | In development - FATF framework |
| Business Plan Required | Detailed business plan with AML/CFT policies required |
| Personnel Required | AML Officer, qualified management |
| Insurance Required | No |
| Remote Incorporation Possible | No |
| 100% Foreign Ownership | Yes |
| Min. Shareholders | 1 |
| Min. Directors | 1 |
| Shareholder/Director Same Person | Yes |
| Registry Public | No |
| Registry Access | Not yet operational - framework under development |
| Accounting Filing Required | Yes |
| Accounting Filing Frequency | Annual |
| Financial Statement Required | Yes |
| Financial Statement Frequency | Annual |
| Accounting Audit Mandatory | No |
| Compliance Audit Mandatory | No |
| Technical Audit Mandatory | No |
| Corporate Income Tax Applicable | Yes |
| Dividend Tax Applicable | Yes |
| Capital Gains Tax Applicable | Yes |
| Territorial Tax Regime | No |
| VAT Applicable | Yes |
| Regulators | Moroccan Capital Market Authority (AMMC) and Bank Al-Maghrib (BAM) |
| Licensing Fee Details | Draft law published November 2025 - fees not yet finalized. AMMC has 120 days to process applications. |
| Permitted Business Models | Exchange, Custody, Advisory services (pending final regulations) |
| Permitted Activities | Crypto exchange, custody, on-ramp/off-ramp, asset management advisory |
| Restricted Activities | Use for commercial payments prohibited. NFTs and mining not covered by draft law. |
| Cross-Border Service Allowed | No |
| Physical Inspection Required | No |
| Derivatives Allowed | No |
| RWA Tokenization Allowed | No |
| App Store Listing Allowed | No |
| Crypto Custody Allowed | Yes |
| License Required | Yes |
| Local Director Required | Yes |
| Local AML Director Required | No |
| Local Legal Address Required | Yes |
| Local Physical Office Required | Yes |
| Capital Maintained in Account | No |
| Compliance Program Required | No |
| Travel Rule Compliance | N/A for gambling |
| Business Plan Required | Detailed application reviewed by Ministry of Interior and Ministry of Finance |
| Personnel Required | Local management required |
| Insurance Required | No |
| Remote Incorporation Possible | No |
| 100% Foreign Ownership | No |
| Shareholder/Director Same Person | No |
| Registry Public | No |
| Registry Access | No public registry for gambling operators |
| Accounting Filing Required | Yes |
| Accounting Filing Frequency | Annual |
| Financial Statement Required | Yes |
| Financial Statement Frequency | Annual |
| Accounting Audit Mandatory | Yes |
| Compliance Audit Mandatory | No |
| Technical Audit Mandatory | No |
| Corporate Income Tax Applicable | Yes |
| Dividend Tax Applicable | Yes |
| Capital Gains Tax Applicable | Yes |
| Territorial Tax Regime | No |
| VAT Applicable | No |
| Regulators | Ministry of Interior, Ministry of Finance, MDJS (sports betting), SOREC (horse racing), Loterie Nationale (lotteries) |
| Licensing Fee Details | Land-based casinos require Prime Minister decree signed by Minister of Interior and Minister of Finance. No online gambling licensing available. |
| Permitted Business Models | Land-based casinos in tourist hotels only |
| Permitted Activities | Casino games, horse racing (SOREC), sports betting (MDJS), state lottery (Loterie Nationale) |
| Restricted Activities | Online gambling not licensed. Private sports betting and lotteries prohibited - state monopoly. |
| Cross-Border Service Allowed | No |
| Physical Inspection Required | Yes |
| Player Fund Segregation | No |
| B2B/B2C Separate Requirements | Yes |
| License Required | Yes |
| Local Director Required | Yes |
| Local AML Director Required | Yes |
| Local Legal Address Required | Yes |
| Local Physical Office Required | Yes |
| Required Share Capital | $3,000,000 |
| Capital Maintained in Account | Yes |
| Compliance Program Required | Yes |
| Travel Rule Compliance | FATF compliant - Morocco exited grey list February 2023 |
| Business Plan Required | Comprehensive business plan with governance, funding sources, technical systems, risk management |
| Personnel Required | Qualified management, AML/CFT compliance officer, fit and proper directors |
| Insurance Required | No |
| Remote Incorporation Possible | No |
| 100% Foreign Ownership | Yes |
| Min. Shareholders | 1 |
| Min. Directors | 1 |
| Shareholder/Director Same Person | Yes |
| Registry Public | Yes |
| Registry Access | Bank Al-Maghrib licensed institutions registry |
| Renewal Period | Annual |
| Accounting Filing Required | Yes |
| Accounting Filing Frequency | Annual |
| Financial Statement Required | Yes |
| Financial Statement Frequency | Annual |
| Accounting Audit Mandatory | Yes |
| Compliance Audit Mandatory | Yes |
| Technical Audit Mandatory | No |
| Corporate Income Tax Applicable | Yes |
| Dividend Tax Applicable | Yes |
| Capital Gains Tax Applicable | Yes |
| Territorial Tax Regime | No |
| VAT Applicable | Yes |
| Regulators | Bank Al-Maghrib (BAM) |
| Licensing Fee Details | Application processing within 120 days (4 months) maximum. Fees determined by Bank Al-Maghrib. Payment institution minimum capital MAD 3 million (approx. $300,000 USD). |
| Permitted Business Models | Payment Institution, Credit Institution, Microfinance |
| Permitted Activities | Payment services, acquiring, IBAN issuance, domestic and international transfers, money remittance, bill payments |
| Restricted Activities | Banking activities (deposits, lending) require full banking license. No EMI-specific framework separate from payment institution license. |
| Cross-Border Service Allowed | No |
| Physical Inspection Required | Yes |