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 represent a concrete opportunity to create a competitive company in Morocco with reduced taxation during the early years. In 2024, Morocco has more than 70 industrial zones and free zones, including Casablanca Finance City (CFC), the Tanger Free Zone, the Kenitra free zone, and zones in Fez, Dakhla and Laayoune.
Costs & fees
| ZAI corporate tax years 1 to 5 | 0% (full exemption) | IS exemption for the first 5 years |
| ZAI corporate tax years 6 to 20 | 8.75% | Reduced rate for 15 years |
| ZAI corporate tax beyond 20 years | Standard rate (31% above 1M MAD) | Return to standard regime |
| CFC corporate tax (status) | 15% fixed | Regardless of profit size |
| CFC office rental | 150 to 250 EUR/sqm/year | CFC Boulevard buildings, Casablanca |
| ZAI industrial land rental | 30 to 80 MAD/sqm/year | Varies by zone and region |
| ZAI import customs duties | 0% | Equipment, raw materials, semi-finished products |
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, reduced IS rate of 8.75% from year 6 to year 20, then standard rate beyond. VAT exemption on sales and purchases of goods and services. Customs duty exemption on imports of equipment, raw materials and semi-finished products.
💡 Tip — The Kenitra Atlantic Free Zone is particularly active in the automotive industry (Renault, PSA subcontractors) and technology. The Tanger ZAI hosts logistics and industrial companies benefiting from proximity to Tanger Med port.
⚠️ Warning — ZAI tax benefits are conditional on maintaining a majority export turnover (more than 85% of revenue). A company selling mainly to the Moroccan market may lose its benefits.
Casablanca Finance City (CFC): international financial hub
CFC is a special status created by law 44-10 for international financial and non-financial services companies wishing to use Morocco as a regional hub for Africa. CFC-status companies benefit from: IS at 15% (fixed rate regardless of profit size), withholding tax exemption on dividends paid to non-resident shareholders, 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.
💡 Tip — CFC status is particularly suited to MREs working in finance, consulting or technology who wish to create an Africa regional office from Morocco.
CFC eligibility criteria and application procedure
To obtain CFC status, the company must meet several criteria: engage in international services activity (no local retail), have offices in Casablanca Finance City, employ a minimum of 5 full-time executives in the first year. The application is filed with CFC via a file including: detailed business plan, management profiles, 3-year financial projections, cover letter specifying the value added for Morocco. The decision is rendered within 60 to 90 days. Rents in CFC buildings range from 150 to 250 EUR/sqm/year.
💡 Tip — Even if you do not immediately obtain CFC status, you can create a normal company in Casablanca and submit a CFC application during the first year of activity.
⚠️ Warning — CFC status is revocable if the company no longer meets eligibility criteria or if its activity is no longer international in nature. An annual audit is conducted by CFC.
Tanger Free Zone and other ZAIs: installation procedure
To set up in the Tanger Free Zone or another ZAI: contact the zone management company, sign a lease or land/building purchase agreement, incorporate a Moroccan company (SARL or SA) with registered address in the zone, file a dossier with AMDIE for projects exceeding 200 million MAD and benefiting from additional incentives. For smaller projects, the zone management company directly supports the investor.
💡 Tip — AMDIE (amdie.gov.ma) publishes a guide to industrial zones with management company contacts, land availability and prices per sqm.
Financing and foreign currency accounts in ZAIs
Companies in ZAIs can open foreign currency accounts (EUR, USD, GBP) at approved Moroccan banks and make international transfers without Office des Changes restrictions. Foreign employees working in ZAIs can receive part of their salary in foreign currency and transfer it freely abroad. For an MRE investing from Europe, capital contributions can be made directly in foreign currency via an MDM account or standard bank transfer.
💡 Tip — Inquire about AMDIE and CRI support programs for MRE investors: some projects can benefit from investment grants of up to 30% of land costs.
In depth
For an MRE wishing to create a technology or services company in Morocco, the choice between CFC status and a ZAI location depends mainly on the sector and target clientele. CFC status is ideal for consulting, fintech, holding or B2B service companies targeting African or international clients. ZAIs are better suited to industrial, logistics or operational services offshoring activities (call centers, BPO, software development). In both cases, combining with an MDM account for initial foreign currency contributions and a chartered accountant specialized in Moroccan tax exemption regimes is indispensable to avoid any tax reclassification during the early years of activity.
❌ Common mistakes to avoid
- ✕Believing ZAI tax benefits apply automatically without respecting the 85% minimum export ratio
- ✕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
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