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Documents and procédures for the creation of a firm in Morocco

Dissertation : Documents and procédures for the creation of a firm in Morocco. Recherche parmi 237 000+ dissertations

Par   •  21 Juin 2019  •  Dissertation  •  430 Mots (2 Pages)  •  70 Vues

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EL ASRI EL HASSAN

Documents and procedures for the creation of a firm in Morocco

        In the sake of the development of the Moroccan economy, the government encourages to invest in multiple fields, allowing a further advancement in the country’s revenues. One way to do so is by creating a firm inside the Moroccan territory, which needs a certain procedure and formalities to allow the practice of whatever activities aimed by the created firm. The procedure is set by the government, which consists of ten steps necessary for the creation of the firm to be valid.

        The first document needed is the “negative certificate”, which is document delivered by OMPIC, that certifies that the name chose for the firm isn’t used by any other firm and that it can be registered in the commercial register. The certificate last for one year but can be renewed, otherwise it’s cancelled.

After that comes the establishment of statues, which are asset of procedures that determine the rules that should be applied in any given legal situation. The company then needs to complete the establishment of share allotment letters and transfer acts, which is a document that needs to be completed in case of participation in the capital of the company. This document can be considered as a promise of cash contribution. The letters also need to be signed by the underwriters.

Next step is the blocking of the amount of paid-up capital. The deposit needs to be made within eight days of the receipt of the funds by the company. A certificate of the said blocking is then delivered by the bank. The firm then needs to establish a declaration of share allotment and remittance. They are bulletins given by the notary.

The company needs to deposit acts of company creation and formalities of registration, these acts are processed at the Regional Investment Center by the representatives of the different administrations involved in the creation. This step is followed by the registration of the patent and tax ID at the regional directorate of taxes represented within the regional center of investment.

One of most important steps comes after, which is the registration within the commercial register. This is done at Commercial Court also represented within the Regional Center of Investment where the next step is also performed. It’s the affiliation to the social security administration.

Once all these steps are done, and within less than one month, the company needs to advertise its creation in both the legal announcement gazette and the Official Bulletin.

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