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This article also features in The Report: Morocco 2019. Read more about this report and view purchase options in our online store.
Written in partnership with Sayarh & Menjra Law Firm, this chapter introduces the reader to the different aspects of the legal system in Morocco. It also contains a viewpoint with Mehdi Megzari and Omar Sayarh, Partner and Managing Partner, Sayarh & Menjra Law Firm.
The following laws form the basis of the Moroccan corporate legislative corpus: the Moroccan Civil Code, or Dahir (royal decree) Obligations et des Contrats, of August 12, 1913; Law No. 17-95 on joint-stock companies, promulgated by Dahir No. 1-96-124 of August 30, 1996; and Law No. 5-96 on limited liability companies, promulgated by Dahir No. 1-97-49 on February 13, 1997. Corporate Law The business environment, both global and local, is changing and evolving rapidly, thus requiring regular…
In the last five years Morocco has made the financial inclusion of entrepreneurs a priority. Indeed, a series of measures have been adopted to facilitate access to financing for entrepreneurial projects. In this respect, the Finance Law of 2019 maintained the provisions of the Finance Law of 2018 relating to income tax reductions for firms that acquire stakes – capped at Dh200,000 (€18,000) – in the share capital of start-ups. The foreign exchange instruction of January 1, 2019 (see…
Morocco used to be the largest energy importer in MENA. Today, its challenge has shifted from becoming an independent energy producer to an exporter. In 2008 the government launched the National Renewable Energy and Energy Efficiency Plan, which aimed to develop alternative energies to meet 15% of the country’s domestic needs and increase the use of energy-saving systems. Since then, the state has set a more ambitious goal: to increase the share of renewable energy capacity to 42% of the…
Viewpoint:Mehdi Megzari and Omar Sayarh Real estate investment trusts (REITs) are an innovative investment vehicle which benefits from a strong appeal in numerous markets around the world. REITs have proven their suitability for individual investors, partnerships and the general public due to them being subject to a strict regulatory framework and operated by licensed management companies. The legal framework governing REITs was established in Morocco in 2016 by Law No. 70-14, which was enacted…
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