Getting business registration in Morocco is an important step to starting a new company. It provides the company with a legal personality and protects it from financial loss. Failure to comply with the company’s registration requirements can lead to serious penalties and even jail time.
In Morocco, there are several options to choose from for setting up a company. The most popular are the Limited Liability Company and the Public Limited Company. The former is the most common type of company in Morocco, and attains its legal personality after being registered in the commercial register.
The Public Limited Company is the second most popular form of company in Morocco. It is also a popular option for foreign entrepreneurs. Its management is controlled by a Board of Directors (at least three members) or an Executive Board (five members at most).
There are no minimum share capital requirements for the formation of the company, but it is recommended that the company has a share capital of at least MAD 100,000 to show its credibility towards banks and customers. It is also preferable to have an authorised director in order to ensure that the business meets all its tax and social security obligations.
Establishing a business in Morocco is an easy process that requires few documents. Depending on the type of company you want to establish, it may take anywhere from a few days to a week or more. The process usually starts by obtaining a negative certificate that will validate the requested company name and then registering it in the Trade Register.
Once a company name is secured, the next step in the company registration process is to draw up the Articles of Association. These will contain the rules of operation and other contractual provisions for the business, as well as a statement of the shareholders and the number of shares they hold in the company.
The Company Registration Guidelines in Morocco are a good guide to assist you in the establishment of your business. They include the various steps involved in establishing a business and information about how long it takes to complete each step.
Obtaining a Negative Certificate:
The first step in the company registration process is to obtain a negative certificate from the Regional Investment Centre. This is obtained online or in person and will cost you MAD230. It can take about one day to process the application.
Creating the Articles of Association:
The next step in the company registration process is to create the articles of association, which can be drafted by the founding partners themselves or a notary. This document will state the rules of operation and other contractual provisions for your business, as well as a statement of all the shareholders and the number of shares they hold.
Once the articles of association are drafted, the company can be incorporated within a week to 10 days after the filing with the regional investment center in the city where it has its registered office.