What are the procedures for setting up a company in Morocco?
- Choosing the name of the company and determining its activity.
- Identifying the headquarters of the company by bringing the following documents:
- Three copies of the lease or purchase contract of the property.
- Document of Domiciliation.
- Preparing the registration information.
- Establishing a system for the company that includes:
- Company name and the purpose of the company.
- Company Headquarters.
- The value of the capital.
What are the types of companies in Morocco?
Consist of two or more people, and partners share the company’s debts. There is not minimum capital required for this type of company. The company’s manager should not engage in any other similar activity without getting the approval of all other partners.
Limited Partnership Firms
Consists of two types of partners:
- Joint Partners: who manage this company are responsible for its debts.
- Limited Partners: they are not responsible for company’s management duties, but participate with their capital, and are obligated to pay a percentage of the debts of the company, depending on their share. A partner can sell their stake without the approval of all other partners.
Partners are not entitled to do any work towards others. This type of company does not have a minimum capital requirement
Closed Joint Stock Company
Two or more people make a contract whereby they conduct their business and share profits and losses. The company does not have a legal personality and is not subject to registration, licensing and publicity procedures. There is no need for any incorporation procedures except for the contract between the partners.
Partnership Limited by Shares
The number of partners should not be less than three in order to establish the company. It consists of joint partners and limited partners. There is no minimum capital, and the capital is divided into shares. The partners share the losses only by the amount of their shares in the company.
Limited Liability Company
The limited liability company consists of one or more partners, and the number of partners should not exceed fifty partners. The minimum capital is ten thousand Moroccan Dirham, and it is divided into equal shares.
Joint Stock Company
Should consist of at least five shareholders. Each shareholder will be responsible for the company’s debts to the extent of the shares he owns in the company. The minimum capital is three million Moroccan Dirham. The share value should not be less than one hundred Moroccan Dirham.