Morocco's Investment Charter (framework law 03-22), promulgated by dahir no. 1-22-76 of 9 December 2022 and published in Official Bulletin no. 7152 of 15 December 2022 (the text sets no expiry date), offers investors a direct support scheme in the form of a cumulative grant up to 30 % of the eligible investment amount. For an MRE entrepreneur planning to set up or expand an activity in Morocco, this grant is one of the support schemes provided for by the framework law. This guide details exact eligibility conditions, grant calculation, application procedure with Regional Investment Centres (CRI) or the Moroccan Agency for Investment Development and Exports (AMDIE), and pitfalls to avoid.
Costs & fees
| Minimum eligible investment | Threshold set by regulation: check with AMDIE (amdie.gov.ma) | Below the threshold, the main support scheme does not apply (framework law 03-22, article 11) |
| Common investment grants | Rates set by regulation | Criteria and rates: articles 12 and 15 of the framework law; check with AMDIE |
| Parity grant | To be checked (rate set by regulation) | Not mentioned in framework law 03-22: existence and rate not verified (regulatory text) |
| Sectoral grant | Rate set by regulation | List of sectors set by regulation (article 14) |
| Territorial grant | Rate set by regulation | List of provinces and prefectures set by regulation (article 13) |
| Cumulative cap | 30 % of the eligible investment amount | Hard legal cap |
| OEC chartered accountant fees | Fees set by the professional | For full file preparation |
| Notary fees (company articles) | Fees set by the professional | Depends on the deed concerned |
| Business lawyer | Fees set by the professional | Convention negotiation and drafting |
Timeline
Verify your project's eligibility
Framework law no. 03-22 reserves the main support scheme for investment projects whose total amount or number of stable jobs to be created reaches thresholds set by regulation (article 11): the text of the framework law gives no figures, so the thresholds should be checked with AMDIE (amdie.gov.ma) or the Regional Investment Centre. Benefiting from the scheme requires an investment convention concluded with the State (article 9). Agricultural projects are outside the scope of the framework law, and real estate and trading projects are excluded from the main support scheme (article 7).
⚠️ Warning: Projects that do not reach the thresholds set by regulation are outside the main support scheme (article 11 of framework law 03-22). The support schemes of the framework law and those of the regions can be combined (article 6).
Calculate your cumulative grant percentage
Framework law no. 03-22 provides, for the main support scheme, for common investment grants (article 12), a territorial grant for the provinces and prefectures listed by regulation (article 13) and a sectoral grant for the priority sectors listed by regulation (article 14). The criteria, calculation basis and rates of these grants are set by regulation (articles 12 and 15): the framework law gives no figures. The grants can be combined up to 30 % of the eligible investment amount (article 16).
⚠️ Warning: The applicable rates are set by regulation: they should be checked with AMDIE (amdie.gov.ma) or the Regional Investment Centre.
Choose the filing channel: regional CRI or national AMDIE
Two channels exist depending on project nature and amount. (1) Regional Investment Centre (CRI): for ordinary projects, whose amount is below the threshold set by regulation (article 35 of the framework law: conventions prepared, approved and signed at regional level), without specific national strategic dimension. The competent CRI is that of the region where physical investment will occur. (2) AMDIE (Moroccan Agency for Investment Development and Exports): for strategic projects whose amount is equal to or above that threshold (conventions approved by the ministerial commission, article 34) or with structural impact on the national economy. AMDIE also acts as a single window for major foreign investors and can negotiate bespoke conventions approved by the ministerial commission provided for in article 34 of the framework law.
💡 Tip: The channel depends on the project amount relative to the threshold set by regulation (framework law 03-22, articles 34 and 35).
Compile the convention application file
The list of documents in the convention application file is set by the CRI or AMDIE depending on the channel: it should be checked with the body concerned (amdie.gov.ma or the CRI).
Instruction, negotiation and convention signing
Once the file is submitted, instruction includes in particular a completeness check, a technical analysis by CRI or AMDIE services and the opinions of the administrations concerned. Conventions are approved by the ministerial commission (article 34 of the framework law) or, below the threshold set by regulation, prepared, approved and signed at regional level (article 35). Timeframes should be checked with the CRI or AMDIE.
⚠️ Warning: Benefiting from the scheme requires an investment convention concluded with the State (framework law 03-22, article 9).
Grant disbursement and commitment monitoring
The terms of payment of the grant (schedule, instalments) and the holder's commitments (jobs, amount invested) are set by the signed investment convention; they should be checked in the convention and with the CRI or AMDIE.
In depth
The Charter's grant is capped at 30 % of the eligible investment amount (article 16 of the framework law). The Casablanca Finance City tax regime (corporate tax exemption for 5 consecutive financial years, then 20 % for financial year 2026; CGI, art. 6-II-B-6 and 247-XXXVII-A) comes under the CGI and is separate from the grants of the framework law; combining it with the grant could not be confirmed in the texts reviewed. Companies located in an industrial acceleration zone benefit from the 5-year corporate tax exemption provided for by the CGI (art. 6-II-B-8). MDM Invest is a programme separate from the Charter grant, presented by Tamwilcom; its conditions should be checked at tamwilcom.ma.
❌ Common mistakes to avoid
- ✕Filing an incomplete file or with inconsistencies between business plan and financial projections
- ✕Believing the grant is paid in one go after signing: the payment terms are set by the investment convention
- ✕Treating the grant as acquired before the investment convention with the State is signed (framework law 03-22, article 9)
- ✕Not checking the amount or stable-jobs thresholds, set by regulation (framework law 03-22, article 11), before filing the application
- ✕Confusing the Charter's main grant (law 03-22) with regional programmes (MDM Invest, TPE-PME programmes): they are distinct schemes
- ✕Not reading the signed investment convention, which sets out the holder's commitments and the terms of payment of the grant
🔗 Official links and resources
AMDIE - Moroccan Investment Development Agency
Official Charter page with documents, forms and grant scales
CRI Casablanca-Settat
Casablanca-Settat Regional Investment Centre, primary entry point for MRE projects in Greater Casablanca
Framework law 03-22 forming the Investment Charter
Official text of law 03-22 published in the Official Gazette
Direction Générale des Impôts (DGI)
Interaction between Charter grant and tax obligations (IS, VAT, withholding tax)
Office des Changes
MRE transfer regulations and declaration of equity contributions in foreign currency
❓ Frequently asked questions
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