tax-incentives

Morocco investment incentives: bonuses, caps and approval powers (law-cadre 03-22 / décret 2-23-1)

24 September 2026

Framework: law-cadre no. 03-22 (investment charter, Dec. 2022) + implementing decree no. 2-23-1 (16 February 2023) + orders 3-12-23 / 3-13-23 / 3-14-23.
Three families of bonuses: common bonuses (employment 5/7/10%, gender ratio ≥ 30% → 3%, future professions 3%, sustainability 3%, local integration 3%), sectoral bonus 5%, territorial bonus 10% (category A) / 15% (category B); cumulated cap 30%.
Specific cap: cumulative bonuses for wind, solar or hydro power production projects are capped at MAD 30 million.
Main scheme threshold: investment ≥ MAD 50 million with 50–149 stable jobs, or ≥ 150 jobs; SMEs fall under the TPME scheme (MAD 1–50 million).
Approval powers: agreements ≥ MAD 250 million are approved by the CNI; below that threshold, regional processing (CRUI); ≥ MAD 2 billion may qualify as a strategic project. The eligible amount excludes the price of public land.