In brief: Moroccan exporters of goods are required to repatriate their export proceeds within a maximum of 150 days from the date of registration of the customs declaration; service exporters have 90 days from completion of the service. The IGOC 2026 (Art. 86 to 105 and Art. 229) allows them to place up to 70% of repatriated revenues (85% for operators categorized by the Exchange Office and registered aeronautics and space companies) in a foreign currency or convertible dirham account. New in 2026: the holder of a contract abroad may credit this account up to the amount repatriated, within the limit of 15% of the contract amount.
Exporting is a strategic lever for Moroccan companies, but it comes with strict obligations under exchange control regulations. Repatriating export proceeds, maintaining foreign currency accounts and ensuring documentary compliance are all requirements that every exporter must master.
This article analyzes the provisions of the IGOC 2026 relating to the export of goods and services (Chapter III, Sections 3 and 4, Art. 86 to 105, supplemented by Art. 229 on exporter accounts), highlighting the rights, obligations and innovations of the exchange regime applicable to exporters.
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Export of Goods: Framework and Obligations (Art. 86-94)
Definition and Commercial Contract
Within the meaning of the IGOC 2026, the export of goods means any shipment of goods to a foreign destination or to an industrial acceleration zone (or any area treated as foreign). It may take the form of a firm sale (final shipment and transfer of ownership to the customer) or a consignment sale (fresh produce entrusted to a foreign commission agent, who issues sales statements). Every export of goods must give rise to a commercial contract and be carried out in accordance with customs and foreign trade regulations. Consignment sales give rise to a sales statement (date, unit price, quantities, total price, costs deducted at source, net amount to be repatriated).
The IGOC 2026 requires neither domiciliation nor a formal export file: the exporter draws up a commercial contract (Art. 87) and keeps, for inspection purposes (Art. 20), the supporting documents for the transaction: contract, invoices, customs declaration and bank repatriation forms (Art. 12).
The 150-Day Repatriation Obligation (Art. 89)
The exporter’s central obligation is the repatriation of the full amount of export proceeds within a maximum of 150 days from the date of registration of the customs declaration. Any reduction of the amount to be repatriated is only allowed in the cases provided for by Art. 91 or with special authorization from the Exchange Office.
In case of total or partial non-recovery (insolvency of the non-resident customer or dispute), the exporter must justify the reason to the Exchange Office with supporting documents, pursue recovery by any appropriate means and keep the Office regularly informed of its steps. Failing this, it faces proceedings for violation of exchange control regulations.
Collection Methods
Export proceeds are collected using the methods provided for by Art. 11 of the IGOC 2026: transfer received from abroad, debit of a non-resident’s foreign currency or convertible dirham account held in Morocco, or international postal money order (documentary credits and documentary collections are settled by transfer). Payment may also be made in foreign banknotes imported and declared to customs.
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Exporter Foreign Currency or Convertible Dirham Accounts (Art. 90, 98 and 229)
The 70% Retention Right
Exporters may place a maximum of 70% of repatriated export revenues (less, where applicable, price reductions and export commissions) in a foreign currency or convertible dirham account opened with their bank; this rate is raised to 85% for operators categorized by the Exchange Office and registered aeronautics and space companies. The balance must be surrendered on the foreign exchange market. Foreign currency already surrendered may still be credited to the account, within these limits, for one year from the surrender.
This account is used to pay any foreign currency expense related to the exporter’s professional activity (current or capital transactions: imports, foreign service providers, business travel, trade shows, investments abroad made in accordance with the IGOC), upon presentation of the required supporting documents, as well as expenses in Morocco. Banknote withdrawals are limited to 100,000 MAD per person per business trip. The exporter must use these funds first for its foreign currency payments.
Opening Conditions
Banks may open these accounts in the name of any exporter of goods or services, whether a legal entity or a natural person registered in the trade register. An exporter may hold several foreign currency and/or convertible dirham accounts with one or more banks.
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Export of Services: Definition and Obligations (Art. 95-100)
A General Definition
Within the meaning of the IGOC 2026 (Art. 95, a definition carried over from the IGOC 2024), the export of services means services rendered in Morocco or abroad by a resident to a non-resident and giving rise to remuneration. In practice, this general definition covers in particular:
- IT services and software development
- Consulting, engineering and architecture services
- Outsourcing services (BPO, KPO)
- Training and distance learning services
- Creative and digital content services
Mandatory Contract (Art. 96)
Any export of services must be backed by a written contract between the resident service provider and the non-resident client. This contract must specify the nature of the service, the amount, the invoicing currency, the payment terms and the execution schedule.
The service contract (Art. 96, defined in Art. 2) is presented to the bank in support of collections and repatriation (Art. 11 and 97); the IGOC 2026 does not provide for domiciliation of exports.
Repatriation and Deadlines
Proceeds from service exports must be repatriated in full within 90 days from the date the services are performed. Service exporters may also place up to 70% of repatriated revenues (85% if categorized by the Exchange Office) in a foreign currency or convertible dirham account.
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Foreign Contracts (Art. 101-105)
Moroccan companies executing contracts abroad (works, studies, supplies) benefit from a specific regime. The IGOC 2026 provides for:
- Declaration of the contract to the Exchange Office (Annex 8 template, copy of the contract) within 30 days of notification of the award
- Advances transferred by the bank up to 20% of the contract amount, to cover execution expenses before the first receipts
- New in 2026: the possibility of crediting the exporter’s foreign currency or convertible dirham account in Morocco up to the amounts repatriated, within the limit of 15% of the contract amount (not cumulative with crediting 70% of the margin earned on that contract)
- Closure of accounts opened abroad as soon as the contract is completed and repatriation without delay of credit balances; equipment acquired abroad must be imported, or the proceeds of its sale repatriated, within 3 months of final completion of the contract
- Opening, by the contract holder or the lead member of a consortium, of a bank account abroad to manage the contract (on a provisional basis, for up to 6 months, if the bid requires it), as well as a foreign currency account in Morocco dedicated to contracts
This regime aims to facilitate the operational execution of contracts while ensuring the repatriation of profits.
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Receivable Mobilization and Export-Related Costs (Art. 91-94 and 99-100)
Mobilization of Foreign Currency Receivables
Banks may mobilize in foreign currency export receivables with at least 30 days remaining until payment (foreign currency bills or any document evidencing the receivable), through credit lines with foreign correspondents. The amounts mobilized are repatriated without delay and surrendered; for goods, they may also be used to directly pay for imports of inputs intended for exported production. In the event of non-payment, the bank may buy back the receivable and debits the exporter’s account. Exporters may also assign their receivables to a Moroccan factor, which must collect, repatriate and surrender them within the regulatory deadlines.
Costs Deductible from Export Proceeds
For goods, the amount to be repatriated may only be reduced in the cases provided for by Art. 91:
- Commissions paid to a foreign representative, up to 10% of the invoiced amount (representation or brokerage contract)
- Price reductions granted to the foreign customer, up to 5% of the invoiced amount (10% for aeronautics and space), supported by a document from the customer
- Factoring commissions owed to a foreign factor
- Costs of the foreign commission agent in a consignment sale, final re-importation of the goods and payment for imports in the context of receivable mobilization
Transport costs borne by the exporter are in principle paid in dirhams in Morocco; forwarding costs abroad (transit, customs clearance, taxes) may be transferred upon presentation of the final invoice, the single customs declaration (DUM) marked with release, and the cost invoices. For services, the allowed deductions are commissions (10%), factoring commissions, taxes due in the customer’s country and expenses for executing contracts abroad.
These deductions must be justified to the bank (representation or brokerage contract, document issued by the customer). When they are paid by transfer rather than deducted, the bank also requires the final invoice, the DUM marked with release and proof of full repatriation. Separate from these costs, refunds (return of an overpayment or of an amount collected on a cancelled order) are possible within one year of the payment received from abroad, upon presentation of the bank repatriation form, the customer’s written claim and the final invoice with the DUM (or the cancelled order).
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Reference texts: Instruction Générale des Opérations de Change (IGOC) 2026 (PDF)
Frequently Asked Questions
What is the deadline for repatriating export proceeds?
For goods, the deadline is a maximum of 150 days from the date of registration of the customs declaration; for services, 90 days from completion of the service. In case of non-recovery (customer insolvency or dispute), the exporter must justify the reason to the Exchange Office with supporting documents, pursue recovery and keep the Office informed of its steps (Art. 89 and 97 IGOC 2026).
What share of export proceeds can be retained in foreign currency?
Exporters may place up to 70% of repatriated export revenues in a foreign currency or convertible dirham account opened with their bank (85% for operators categorized by the Exchange Office and registered aeronautics and space companies). The balance must be surrendered on the foreign exchange market (Art. 90, 98 and 229 IGOC 2026).
Is the export of IT services covered by the IGOC 2026?
Yes. IT services, software development, consulting, outsourcing and digital services provided by a resident to a non-resident for remuneration fall within the general definition of service exports (a definition unchanged from the IGOC 2024). The transaction must be covered by a service contract and the proceeds must be repatriated within 90 days of completion of the service (Art. 95 to 97 IGOC 2026).
Can a Moroccan company open a bank account abroad for a contract?
Yes. The contract holder or the lead member of a consortium may open a bank account abroad to manage the contract; this account receives the contract’s advances and receipts, is used to pay its expenses and must be closed as soon as the contract is completed, with balances repatriated without delay. In addition, since 2026, the company may credit its foreign currency or convertible dirham account in Morocco up to the amounts repatriated, within the limit of 15% of the contract amount, not cumulative with crediting 70% of the margin (Art. 101 to 105 and 230 IGOC 2026).
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