Morocco has a system of free zones and industrial acceleration zones (ZAI) offering significant tax advantages to companies that set up there. For an MRE entrepreneur in technology, finance, services or industry, these zones offer a specific tax regime during the early years.
Costs & fees
| ZAI corporate tax years 1 to 5 | 0% (full exemption) | IS exemption for the first 5 years |
| ZAI corporate tax from year 6 onwards | 20% (financial year beginning on or after 1 January 2026) | Standard rate after the first 5 financial years of exemption (CGI, art. 19 and 247-XXXVII-A) |
| ZAI corporate tax, following financial years | Standard IS rate: 20% for financial year 2026 | Return to standard regime |
| CFC corporate tax (status) | 0% for 5 financial years, then 20% in 2026 | Regardless of profit size |
| CFC office rental | Set by the building owners | Check with CFC |
| ZAI industrial land rental | Set by the zone's management company | Varies by zone and region |
| ZAI import customs duties | Check with the customs administration (douane.gov.ma) | Customs regime of industrial acceleration zones |
Timeline
Industrial Acceleration Zones (ZAI): standard legal regime
Industrial Acceleration Zones (formerly export free zones) are governed by law 19-94 and its amendments. Companies setting up there benefit from: total IS exemption for the first 5 years of operation, then the standard corporate tax rate (20% for the financial year beginning on or after 1 January 2026). VAT exemption on operations carried out within or between industrial acceleration zones and on deliveries to those zones (CGI, art. 92-I-36). The applicable customs regime should be checked with the customs administration (douane.gov.ma).
⚠️ Warning: The continuation of the benefits of an industrial acceleration zone is subject to the conditions of its regime; they should be checked with the zone's management company and AMDIE.
Casablanca Finance City (CFC): international financial hub
CFC is a special status governed by decree-law no. 2-20-665 of 30 September 2020 (ratified by law 70-20) for international financial and non-financial services companies wishing to use Morocco as a regional hub for Africa. CFC-status companies benefit from: total corporate tax exemption for 5 consecutive financial years from the first year the status is granted, within the first 60 months after the company's incorporation (excluding credit institutions and insurance and reinsurance companies), then corporate tax at the standard rate (20% for the financial year beginning on or after 1 January 2026), withholding tax exemption on foreign-source dividends paid to non-residents (CGI, art. 6-I-C-1), full freedom of currency conversion and transfer, access to a single administrative window. Eligible sectors include: financial services (banking, insurance, fund management), regional holdings, business services (consulting, audit, legal), information technology.
CFC eligibility criteria and application procedure
According to CFC, the eligibility criteria include in particular: providing added value to the development of CFC, having its headquarters at CFC and being managed and operated from CFC, having at least one manager residing in Morocco, committing a minimum of operating expenses in line with the activity, and having at least one senior executive with qualifying international experience (minimum 3 years for service providers, 1 year for other activities). The application is made to CFC (casablancafinancecity.com); the file includes in particular a letter of intent, a business plan and an application form.
Tanger Free Zone and other ZAIs: installation procedure
To set up in the Tanger Free Zone (TFZ) or another ZAI, the steps are: contacting the zone's management company, signing a lease or a land or building purchase agreement, and incorporating a Moroccan company (SARL or SA) with its registered office in the zone. Procedures with AMDIE and the incentives applicable should be checked with AMDIE (amdie.gov.ma).
Financing and foreign currency accounts in ZAIs
Moroccan banks open foreign-currency accounts and convertible-dirham accounts, in particular in the name of companies located in industrial acceleration zones (General Instruction on Foreign Exchange Operations 2026, art. 228). For an MRE, a capital contribution financed in foreign currency benefits from a guarantee of transfer of income and sale proceeds (IGOC 2026, art. 171 to 173).
In depth
The choice between CFC status and a ZAI location depends on the sector and the clientele. CFC status concerns international services (regional headquarters, holdings, financial and business services); ZAIs concern industrial, logistics or operational services activities. In both cases, the conditions and tax benefits should be checked in the CGI (art. 6-II-B, 19 and 247-XXXVII-A) and with CFC or the zone's management company.
❌ Common mistakes to avoid
- ✕Believing ZAI tax benefits apply automatically without checking the conditions of the regime with the zone's management company and AMDIE
- ✕Neglecting ZAI rents and infrastructure costs which can offset part of the tax benefits for small structures
- ✕Confusing CFC status (international services) with industrial ZAIs and filing an application unsuited to one's activity
🔗 Official links and resources
❓ Frequently asked questions
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