Investment framework and opportunities in Morocco

Procedures Relative to Foreign Investment

Freedom of Establishment: Foreigners can generally invest in the country enjoying the same conditions as locals (a few exemptions apply for specific sectors).
Acquisition of Holdings: Foreign investments in air and maritime transport companies and maritime fisheries are capped at 49%. Foreigners cannot own agricultural land, though they can lease it for up to 99 years. In the oil and gas sector, the National Agency for Hydrocarbons and Mines (ONHYM) retains a compulsory share of 25% of any exploration license or development permit. The Moroccan government also has a discretionary right to limit all foreign majority stakes in the capital of large national banks.
Obligation to Declare: Investment system in Morocco is very open as investors do not have to obtain prior approval: they simply have to send the Foreign Exchange Office a report in the six months following the completion of the operation.
Competent Organisation For the Declaration: Foreign exchange office
Requests For Specific Authorisations: The financial sector has specific regulations, as well as that of hydrocarbons and air and maritime transport.