Key takeaways: A non-resident (French or foreign) can own 100% of the capital of a company in Morocco, with no local partner, and complete all formalities remotely by power of attorney. The investment, once declared to the Office des Changes, grants the transfer guarantee: free repatriation of capital, dividends and capital gains. Taxation (corporate income tax, withholding tax on dividends) is governed by the CGI and the Morocco-France tax treaty, which eliminates double taxation.
Can a non-resident form a company in Morocco?
Yes, with no restriction as a matter of principle. Moroccan law does not reserve capital ownership for residents: a foreign investor can own 100% of a Moroccan company, act as a non-resident manager and incorporate the company remotely. No Moroccan partner is required for the vast majority of activities (certain regulated sectors are an exception).
Two conditions shape the operation: compliance with foreign exchange regulations (to secure future repatriation) and the choice of the right legal vehicle depending on the project.
Which legal form for a non-resident?
| Form | Min. capital | Relevance for a non-resident |
|---|---|---|
| SARL | No legal minimum | Default choice: simple management, liability limited to contributions |
| Single-member SARL (SARL AU) | No minimum | A single foreign shareholder at 100% |
| SA | MAD 300,000 | High-capital projects or those open to investors |
The SARL covers most needs. For a detailed comparison, see the legal forms of companies in Morocco. An investor who does not wish to create a separate entity can also opt for a branch in Morocco.
Setting up your company remotely, without travelling
Physical presence is not required. The investor establishes a legalised power of attorney (at the Moroccan consulate in their country of residence) in favour of a local representative — usually their chartered accountant — who carries out all the steps.
The stages are identical to a standard incorporation: negative certificate from OMPIC, drafting of the articles of association, legal filing, registration with the commercial registry, obtaining the tax identifier, CNSS affiliation and official publications. The full detail is set out in our guide on forming a company in Morocco.
Foreign exchange regulation: securing repatriation
This is the point that non-residents most often overlook. To guarantee the future transfer of profits abroad, the capital contribution must be made in foreign currency and the investment declared under the IGOC. This declaration grants the transfer guarantee: the investor can freely repatriate dividends, disposal proceeds and capital in the event of a resale.
Opening a foreign currency or convertible account in the company’s name facilitates these flows. The full framework is detailed in our guide on foreign investment in Morocco.
Taxation of the non-resident: corporate tax, dividends and the France-Morocco treaty
As soon as it operates in Morocco, the company is a Moroccan tax resident and subject to ordinary corporate income tax (a proportional scale by profit bracket).
On distribution, dividends paid to a non-resident shareholder are subject to a withholding tax in Morocco. For a French tax resident, the Morocco-France tax treaty prevails: it caps the taxation and grants a tax credit in France, which eliminates double taxation. The general mechanism is explained in our guides on the withholding tax on dividends and the double taxation of MREs and non-residents.
Bank account and post-formation steps
After registration, the company opens its professional bank account. For non-resident shareholding, the bank carries out enhanced checks; the foreign currency account makes it possible to hold the initial contribution and organise international flows.
Once operational, the company follows ordinary accounting and tax obligations (bookkeeping, corporate tax and VAT returns, payroll/CNSS). An investor managing several holdings may consider structuring through a holding company in Morocco.
Read also:
- Forming a company in Morocco: complete 2026 guide
- Morocco-France tax treaty: avoiding double taxation
- Branch in Morocco: an alternative to the subsidiary
