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Investing in the region of Taza - Al Hoceima - Taounate is part of the broader Moroccan law, more and more conducive to foreign investment. Repatriation of investment The investor benefit from a convertibility regime for investments in foreign currencies. He has complete freedom to achieve his investment operations in Morocco, to transfer abroad gained incomes the same as for the product resulting from the liquidation of his capital. Non-Moroccans employees are also allowed to repatriate 100% of their salary. Customs and Excise Regime The Moroccan customs system provides storage, processing, use and circulation of goods. Investors benefit from the exemption from taxes of added value for goods, equipment, tools, spare parts and accessories related to investment and registered in a capital account. Business Taxation Companies exporting products and services benefit from a full tax exemption for 5 years and a reduction of 50% in subsequent years. Several other exemptions are provided according to the territory and activity. In financing, there are many mechanisms in the form of foreign and national credit lines and many guarantee funds or direct financing at low rates below those of the market. New labour regulations Morocco has recently adopted a balanced labour code that respects interests of business and employees’ rights, and modernizes the Job relations and improves business management. The main tendencies of the new labour code are: Possibility for the employer to negotiate fixed-term contracts, permanent and temporary contracts. Dismissal for personal, economic, structural and technological reasons. Workweek: 44 hours + overtime (non-agricultural sectors) Annual Leave: 1.5 days per month Foreign Workers Foreign workers in Morocco correspond as appropriate to their posting or expatriation system. In the first case, the employee is seconded to Morocco by his employer for a period less than 6 years. It will not be taxed in Morocco if it retained his tax residence elsewhere, or if his employer is not residing in Morocco. In the case of expatriation regime, if the employer is based in Morocco, the worker’s taxation will be imposed. In both cases, the formalities to obtain the residence permit for the employee and his family members can be completed on the spot as well as those related to the approval of contracts with the Ministry of Labour. Foreigners who come to Morocco benefit from duty-free on total import their personal effects. They can, like enterprises , easily open a bank account in foreign currency, local currency or in convertible currency according to their needs. Extract from The investment charter Useful links:
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