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Morocco

Morocco Flag

Country: Morocco
Region: Africa
Currency: Moroccan Dirham (MAD)
Languages: Arabic, Berber
Time Zone: UTC +0

Phone Code: +212

Communications: Good

Formation Cost: 5000 - 5400 USD$
Formation Time: 10 - 14 days
Maintenance cost: 2000 - 2600 USD$

Executive Summary: Morocco is in North Africa, bordering the North Atlantic Ocean and the Mediterranean Sea, between Algeria and Western Sahara. With an area of 447,000 sq km, Morocco had an estimated population in July 2014 of 33m. Arabic and Berber dialects are Morocco’s official languages, but French is widely spoken and is the language of business. Morocco has capitalized on its proximity to Europe and relatively low labour costs to build a diverse, open, market-oriented economy. Industrial development strategies and infrastructure improvements, including a new port and free trade zone near Tangier, are improving Morocco's competitiveness. Morocco also seeks to expand its renewable energy capacity with a goal of making 40% of electricity output renewable by 2020. Key sectors of the economy include agriculture, tourism, phosphates, textiles, apparel, and subcomponents. Morocco has a free trade agreement with the United States and a limited trade agreement with the EU. Corporate income is taxed at rates of up to 37%, but a range of tax incentives are available for foreign investors.

Suitable for: Insurance, Shipping, Aviation
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Company Purpose Stats:

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Vehicle Types: Limited liability companies, public limited companies, joint ventures, sole proprietorships, branches, general partnerships and joint ventures

Capital primary business districts: Rabat, Casablanca

Good Relationships: Brazil, China, Mexico, United States

Bad Relationships: Burma, Cuba, Korea (Democratic People's Republic of), Libya, Somalia, Sudan, Syria

Tax Burden - Business: Heavy

Tax Burden - Individual: Very Heavy

Headline tax rates: CIT 10%-37%, PIT 0%-38%, VAT 20%

Treaty Jurisdictions: Algeria, Austria, Bahrain, Belgium, Canada, China, Croatia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Greece, Hungary, India, Indonesia, Ireland, Italy, Jordan, Korea, Republic of, Latvia, Lebanon, Luxembourg, Macedonia, Malaysia, Malta, Netherlands, Norway, Pakistan, Poland, Romania, Russia, Senegal, Singapore, Spain, Switzerland, Tunisia, Turkey, United Arab Emirates, United Kingdom, United States, Vietnam

TIEA Jurisdictions: None

Information Links:

 

 

 

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