I ‘am setting up a business
Having planned to establish your own business, you must be willing to make your dream come true. For this reason, you should simply go through some legal, financial, and commercial formalities.
To incorporate a company, a corporate name and a negative certificate are compulsory steps. The negative certificate is obtained by means of submitting an application and providing required documents for the Regional Investment Center, or by accessing the website of the Moroccan Industrial Property Office. Please visit this website:
Note that such procedure is valid for all companies except individual firms with no commercial name.
N.B: the negative certificate would be cancelled if: it is not withdrawn within a time limit of one month starting from the date of its issue, it is not filed for trade registration one year after its issue.
Then, the registered office of the firm is to be stated by supplying the required documents.
N.B: It is required to ask the owner or the agent authorized to accept service to provide a supplementary urban tax notice or a business tax notice (patent).
Afterwards, a subscription newsletter is a must for business companies including limited liability companies, simplified joint-stock companies, partnerships limited by shares, civil companies. A memorandum of association is to be drawn up at a legal firm. It includes the following:
- Shareholders' names;
- Company's name;
- Registered office,
- Amount of share capital;
- Nominated initial managers;
- The company's authorized signatories.
Now, it is required to supply the necessary documents to a local bank to block paid-up capital amount. The bank must issue a supporting certificate for such an action. This formality concerns business companies including limited liability companies, simplified joint-stock companies, solidarity companies, and partnerships limited by shares. The deposit must be made 8 days from receipt of funds by the company.
Then, subscription and payment are officially stated by means of an authentic deed drawn up by a public notary, or by a private deed drawn up by a legal firm-such document must be deposited at the Registry of the Court near the headquarters for limited liability companies-after having provided the certificate of blocking paid-up capital issued by the bank.
The next step is the announcement in a journal of legal notices or in the official gazette, which is undertaken by the Regional Investment Center after having been entered in the trade register. As for joint-venture companies, and other business companies; they are twice announced in journals of legal notices before and after trade registration and announced once in the official gazette after having been entered in the trade register.
Having gone through all the abovementioned formalities, the Regional Investment center issue-after provision of required documents-the following certificates to limited liability companies, solidarity companies, simplified joint-stock companies, and partnerships limited by shares:
- A copy of the memorandum of association with a registration statement;
- A copy if the lease contract if necessary;
- A copy of the certificate of registration to the business tax;
- A copy of the declaration of corporate existence;
- A certificate of affiliation to CNSS;
- A notifying statement of: trade registers #, business tax registration #, fiscal identification #, CNSS affiliation #.