Morocco client case studies in 2023
Risk management consultant sets up Morocco business
- Our Client is a risk management consultant who approached Healy Consultants Group PLC to establish a company in Morocco;
- The Client explained that the company will specialise in country risk assessment advisory, and analyse both threats and opportunities for businesses.
- After a preliminary discussion with the Client, Healy Consultants Group PLC suggested consider incorporating a limited liability company in Morocco as the optimal solution;
- Specifically, our Client requested Healy Consultants Group PLC to provide a solution so he did not need to travel to Morocco;
- Our Firm started working on a detailed Engagement Project Plan, which included setting out our Client’s expectations and requirements.
- Prior to the company incorporation, Healy Consultants Group PLC Project Management team reserved the preferred company name with the relevant Regional Investment Centre;
- Our team obtained the Certificate of Confirmation (Certificat Negatif) from the Regional Investment Centre;
- We also prepared a draft of the company bylaws for our Client’s review;
- After our Client signed and legalised 10 copies of the bylaws, we made an appointment with the local Regional Investment Centre and submitted a complete, quality company incorporation package;
- Within three weeks, the Regional Investment Centre provided us with the Morocco LLC corporate documents.
- After completing company incorporation, our team approached multiple Moroccan banks to secure in writing their interest in welcoming a corporate bank account opening application from our Client;
- Because our Client required a non-travelling solution, we focused on CFG Bank, who agreed to activate the bank account after tele-conference with the Client;
- In tandem with the Client’s tele-conference with the bank, Healy Consultants Group PLC’s team prepared a Business Plan, filled corporate bank account opening forms and submitted the required information on behalf of our Client;
- Within two weeks of submitting the required information and documents, we secured corporate bank account numbers for our Client.
- Upon receipt of the online banking tokens, we couriered the same along with the corporate documents to the Client;
- Healy Consultants Group PLC had successfully completed the engagement.
South African print outsource management company establishes a LLC in Morocco
- Our Client, is a South African based management consulting company specializing in the management and procurement of various printed goods with several global subsidiaries located across Dubai, Egypt, Pakistan, Saudi Arabia, South Africa, Nigeria, Kenya and Zambia now needed to establish a presence in Morocco to venture into the untapped niche market in the region;
- Having found Healy Consultants Group PLC business website through Google, our Client approached Healy Consultants in October 2016 to determine the ultimate corporate structure to register their business. After expert analysis and deliberations with Kunal Fabiani, Healy Consultants’ Morocco business setup expert, our Client decided to register a LLC office in Morocco.
- Healy Consultants Group PLC prepared and emailed our Client an engagement advancement proposal including a formal invoice, engagement letter and due diligence checklist and a list of our existing and past client for professional refence;
- Our Client promptly provided us with the due diligence documents and settled our fees in 3 instalments. Thereafter, Healy Consultants Group PLC prepared a detailed engagement project plan mapping out a step by step plan to engagement completion as well as a quality business plan to assist with corporate bank account opening in Morocco.
- Healy Consultants Group PLC firstly confirmed with the Ministry of Industry, Trade and Investment and the Digital Economy the optimum cluster suitable for our Client’s business and informed our Client of the same;
- Within 1 week, Healy Consultants Group PLC then prepared the corporate registration documents, drafted the board resolutions and secure a lease agreement for registered office premises. Kunal emailed the same to our Client for signature, notarization and attestation in the South Africa and courier back to Casablanca together with the corporate shareholders’ attested company documents;
- Upon receipt of the original attested documents from our Client, Healy Consultants Group PLC submitted the complete quality LLC registration application with the MCINET. Within 1 week the of application submission the Moroccan registrar reverted to Healy Consultants requesting our Client to submit additional updated Certificates of Good Standing for both corporate shareholding entities;
- Within 2 weeks, our client managed to courier the original certified certificates directly to Healy Consultants Casablanca affiliate office. 3 days later Healy Consultants Group PLC obtained the approval of the MCINET, secured the Commercial License of the LLC office and immediately emailed our Client a scan copy of the same.
Corporate bank account opening
- With the LLC registered and commercial license obtained, Healy Consultants Group PLC approached the recommended local Moroccan bank Credit du Maroc to secure in writing their interest for our Client’s business activity. Healy Consultants Group PLC then prepared all the required bank due diligence documents and prefilled the corporate bank account application forms;
- Further, Credit du Maroc, advised that parent company documents and Power of Attorney authorizing the bank signatories had to be notarized and attested in South Africa and originals couriered bank to Morocco;
- Upon receipt of the signed, notarized and attested documents, Healy Consultants banking team thereafter submitted a quality corporate bank account application to Credit du Maroc, for consideration. Within 3 weeks thereafter, Credit du Maroc, compliance department approved the multicurrency corporate bank account and directly emailed our Client the bank account numbers;
- While the account numbers were timely approved, Credit du Maroc failed to provide internet banking access to our Client. Consequently, Healy Consultants had to assist our client translate to French and submit payment orders for the first month. As our Client was not satisfied with Credit du Maroc’s online banking system, Healy Consultants opened a second corporate bank account with AWF bank. In 3 weeks the new account numbers were approved and within 3 additional weeks, our Client enjoyed online access to their new bank account.
To conform to the MCINET statutory requirements, Healy Consultants Group PLC procured and provided our Client with a company stamp. While the original corporate documents were safely kept at the company’s Casablanca registered office, scans of the complete company kit were emailed to our Client for their internal records.