Offshore holding companies in Morocco will face tighter checks on their customers, owners and financial transactions under new rules issued by the Foreign Exchange Office. The new rules are set out in Circular No. 2/2026. The circular requires each offshore holding company to have a system to detect and prevent money laundering. The system must match the company’s size, activities and level of risk.
Companies must check who their customers are and identify their ultimate beneficial owners. They must also check where money comes from and where it goes.
Transactions must be monitored closely. Companies will have to pay extra attention to unusual, complex or high-risk transactions.
Each offshore holding company must also appoint a compliance officer. This person will be responsible for putting the new system in place and checking that it is being followed.
The rules require companies to identify beneficial owners who hold or control at least 15% of the company’s capital or voting rights.
Companies will also have to rate risks as low, medium or high. The rating will take into account factors such as the country involved, the size of transactions and the type of company.
Transaction records and identity documents must be kept for at least 10 years.
More checks on offshore companies
Law No. 43-05 on money laundering and Law No. 58-90 on offshore financial centres form the legal basis for the new circular.
The Foreign Exchange Office oversees foreign exchange rules and compliance for non-bank offshore companies.
Tangier Offshore has more than 80 active offshore holdings and companies. These businesses manage assets across North and West Africa.
The offshore regime offers several tax and foreign exchange benefits to non-resident companies.
Offshore companies can pay corporate tax of up to 15% or choose a fixed annual payment of about $500 in local currency.
Dividends paid to non-residents are also exempt from withholding tax.
Stronger anti-money laundering rules
The new rules come as financial authorities continue to strengthen controls against money laundering.
The Financial Action Task Force removed Morocco from its grey list in early 2023 after the country carried out reforms under Law No. 43-05.
Circular No. 2/2026 also brings the rules for offshore companies in line with FATF Recommendations 24 and 25. These recommendations focus on identifying the real owners of companies and improving transparency around legal entities.
The National Financial Intelligence Authority has reported a steady rise in suspicious transaction reports each year.
The new rules aim to make it harder to use offshore companies as shell companies for illegal financial activity.
The circular is available on the Foreign Exchange Office’s official website.
