Country's features:

Geographic location	North Africa, belonging to the Maghreb
Political regime	Constitutional monarchy
Population	32 309 239 (2012)
Language	Arabic, french
Currency	Moroccan Dirham (MAD)
Time zone	GMT+1

Features of the incorporation of a company:

Type of company	SA or SARL
Capital required	Minimum capital required: 1,000 MAD
Legal system	Muslim Law y Civil Law
Number of directors/shareholders	Minimum 1 director/ 1 shareholder
Anonymity and confidentiality	No
Secretary service	No (but recommended)
Corporate tax	30% -> Exemption and possible reductions according to sector of activity
Wealth tax	0%
VAT	20% possible reductions according to sector of activity (14%, 10% or 7%)
Government taxes	N/A
Accounting requirements	Mandatory to keep accounts and file annual reports
Bearer shares	Authorised
Exchange control - non-residents	No

Related links:

• Morocco’s government website: http://www.maroc.ma