In this post, we will talk about “How to register a company in Morocco. Previously, we discussed “how to check if the company is registered with SARS and “How to register a Chit Fund Company in Tamil Nadu”.
Different types of Companies in MOROCCO
- 1 Different types of Companies in MOROCCO
- 2 How to Register a Company in MOROCCO
- 3 Process of Registration
- 4 The main business entities in Morocco:
- 5 Private Limited Company (SARL)
- 6 Limited Liability Company (SA)
- 7 Branch Office
- 8 Sole Proprietorship
- 9 Register your business in Morocco
- 10 Obtain a license
- 11 Company registration fee in Morocco
In 2016, the Bloomberg innovation named Morocco as one of the 50 most innovative companies in the world. For some years now, the Morocco economy has been making remarkable progress by attracting global investors, business people, start-ups, and entrepreneurs. Initially, the country has always depended on tourism and textiles, but now, the economy is now more industrialized and diversified into other sections such as aeronautic sector, automotive sector and so many more.
How to Register a Company in MOROCCO
Process of Registration
In registering a company in Morocco, here are the things involved:
- A minimum of one director.
- At least a MAD100,000 as minimum share capital.
- It is not required to file the accounts manually.
- At least a 100 percent share capital must be paid in advance.
- Proof of evidence from the bank to show that the capital has been deposited.
- Annual filing of the account is not required.
The main business entities in Morocco:
Private Limited Company (SARL)
A Private Limited Company (SARL) is a type of association which is formed by two or more members who are liable to the amount of share which is prohibited from public trading. It is an intermediate type of business between capital and persons. Members of this type of association do not have to be a regular merchant and as part of its Inco-operation process, must file a memorandum of association.
Limited Liability Company (SA)
For this type of company, a minimum of five shareholders is required. They could be legal entities or individuals. The charge of each shareholder is limited to their equity share amount. A 25 percent of the equity share must be paid ahead in cash contribution and then paid in full on incorporation. The company does not use a corporate name but only a trade name.
The branch of a corporation is seen as a separate legal entity. Registering a Moroccan branch requires the bank disclosing some specific details about its parent’s company, its delegated powers, and its representatives.
In a sole proprietorship, an individual is personally responsible for the activities of a company and such is personally liable for all the assets and debts of the business. Registering this type of business requires tax authority and Commerce Registry.
Register your business in Morocco
Registering your business involves going to the Regional Tax Directorate within 30 days with your business documents and a purchase deed. It is significant to note that the fee varies due to the types of companies.
Obtain a license
After completing the steps above, you must obtain a tax ID and a license from the Regional Taxes Directorate. Then you will be required to produce the letter of approval for all the financial services you want to produce in the country coupled with your debit note or lease.
More so, you will need to get a license for your business from the Commercial Court and then register your company for social security at the National Fund.
Company registration fee in Morocco
The fixed fee is MAD 1,000, and other fees include:
- MAD350 for registration at the Commercial Registry
- MAD150 for the publication fee which is MAD8-9 per line in the business paper and
- MAD200 for registration fees
- MAD4 per line in the official bulletin.
The applicants will be required to produce a text of the application when submitting all the necessary documents. It will be typed in Arabic. Even though the journal publication will be in 30 days, it is still required to obtain the receipt as it will be used during the registration with the Tribunal of Commerce.
At the end of a week, the applicant will be given a ‘patent,’ the registration certificate, the fiscal identification, the security registration and legal books.
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