If you are ready to invest in a business, you do not have to worry for the state has worked to make administrative formalities easier and more encouraging. Good luck then.
Formalities are as follows:
- Adopting a motivating investment tax system, which has many benefits;
- Amending the investment institutional framework by means of systematic role redistribution among operators within such investment process.
Such philosophy is translated into the establishment of investment regional centers, which are in charge of following up investments at local and regional levels. The follow up is carried out through the works of an established commission chaired by the Prime Minister. It undertakes the study of investment projects which equal or exceed MAD 200 million. The creation of the investment promoting fund and the Moroccan Investment Development Agency is as well a boost to investment.
Before starting an investment project, it is compulsory to complete the stages that follow:
Application files and required documents (depending on the project) are filed at the competent ministry in charge of the sector within which falls the investment project in return of a receipt.
The file must contain an accurate description of the project, qualifications of the investor or investors, the setting, lists of specific equipments, and all pieces of evidence to prove that the planned investment project meets one or many of the requirements. It must present the project study of technical, economic, and financial feasibility; as well as an estimation of accounts during 5 years or less.
Competent departments study filed applications. Then, a private contract project is signed stating the benefits of the company on the one hand and its liabilities to carry out the suggested project on the other hand.
Private contract projects must provide for conditions and time limits for investment projects to be carried out. They must, if need be, state the provisions for the formalities relating to relevant agreed upon benefits.
Examining the application and preparing the contract project must not take more than 30 working days, starting from the date of filing the application certified by a receipt.
Ready contract projects are validated by a commission referred to as the « investment ministerial commission», which is chaired by the Prime Minister.
The private contract project is issued by the competent department to the Government’s General Secretariat; as a secretary for the ministerial investment commission.
The said commission decides on the private contract project within 20 working days. Then, it informs the competent department about the decision which notifies the investor 10 working days from the time members of the commission have taken the decision.
In case of consent, the company’s legal representative and concerned ministries sign the private contract.