Investing in the Moroccan Stock Market from Abroad: AMMC 2026 Guide

💡 Tip — The MDM non-resident account is the most practical solution: it allows unlimited incoming transfers from Europe, and funds can be freely repatriated to Europe.

⚠️ Warning — Do not confuse the MDM account (current savings) with the MDM-investment account specific to capital transactions. For stock market investment, the latter is required.

💡 Tip — CDG Capital Bourse and BMCE Capital Bourse have advanced digital procedures for non-residents and specialised MRE advisors in 2026.

⚠️ Warning — Verify that the brokerage firm is on the official list of BVC members published on casablanca-bourse.com.

💡 Tip — Keep proof of your incoming transfers from Europe: they prove the legitimate origin of funds and facilitate future repatriation.

⚠️ Warning — If you become a Moroccan tax resident, repatriation rules change: funds are no longer automatically repatriable without Office des Changes authorisation.

💡 Tip — Request annually from your Moroccan brokerage firm or bank a certificate of dividends received and withholding tax deducted: an essential document for tax filing in your country of residence.

⚠️ Warning — The capital gains exemption applies only to securities listed on the BVC. Unlisted securities (private company shares, unlisted private bonds) remain subject to TPA (Tax on Share Profits) at 20%.

💡 Tip — For a beginner MRE, a diversified OPCVM managed by an AMMC-licensed firm is preferable to buying individual stocks: professional management and diversification reduce risk.

⚠️ Warning — The BVC market is less liquid than European markets: for large amounts (>100,000 DH), check the average daily trading volume before buying to avoid a price impact.