Jurisdiction(s):
United Kingdom

Morocco FDI and sectoral approvals under the Investment Charter 2022: incentives, foreign ownership limits, authorisations, and interaction with merger control

Published by a LexisNexis Competition expert

Practice notes

1. What is the applicable legislation?

Morocco has no standalone foreign direct investment (FDI) statute. Instead, the framework for both domestic and foreign investment is found in the Investment Charter. In December 2022, the previous charter was replaced by a new Investment Charter enacted through Framework Law 03-22 (Investment Charter 2022). Neither the former nor the current Investment Charter creates a comprehensive FDI review mechanism comparable to those seen, for example, in European countries. Rather, the Investment Charter 2022 concentrates on incentivising investment in specified sectors and regions.

The amendments introduced with the new charter seek to streamline administrative procedures for investors, lower barriers to establishing and operating businesses in the country, enhance the transparency and predictability of administrative processes, and attract investment by offering a range of incentives. These incentives include tax advantages, subsidies, and other supportive measures aimed at promoting investment in priority sectors and areas.

2. Which government or other body (or bodies) reviews foreign investments?

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Dr. Nicolas Bremer

BREMER

Nicolas is a partner and attorney with the regional law firm BREMER where he heads the firm's Antitrust & Merger Control and Mergers & Acquisitions (M&A) teams. He oversees the firm's Riyadh and Cairo representations and has extensive experience in advising international and domestic clients on merger control and antitrust matters as well as mergers and acquisitions and joint venture transactions in Saudi Arabia, the United Arab Emirates, Egypt and the wider Near and Middle East. He works in English, Arabic and German language. Prior to joining BREMER Dr. Bremer worked for different international law firms in Berlin, Cairo, Dubai and London. He holds a PhD, which he obtained working on the regulation of large-scale fresh water development in the Near and Middle East under international and domestic law. Dr. Bremer frequently publishes on the law of the Near and Middle East and...

Web page updated on 29/05/2026

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