Personal accounts: Morocco
An honest assessment before work starts, the quote is fixed in writing.
We assess your chances against your profile, prepare the compliance file, help you present your source of funds properly and handle communication with the bank until it decides. The final decision always rests with the bank, and careful preparation improves the odds.
We quote the exact cost for this country after a short consultation: it depends on the bank and your residency. The quote is fixed in writing before work starts.
A non-resident account: convertible dirhams
A non-resident opens a convertible dirham account in Morocco. It is funded only with money transferred from abroad, and the balance can be freely sent back. All currency operations are supervised by Morocco's Exchange Office, and investments from abroad made through such an account can be repatriated with the income under the repatriation guarantee.
Moroccan resident taxes
| Income | Rate |
|---|---|
| Income tax | 0-37% on a scale; the top rate from MAD 180,000 a year, ~$18,600 |
| Interest on Moroccan deposits | 30% |
| Renting out a home | the 0-37% scale after a 40% deduction |
A resident is someone with a home or centre of economic interests in Morocco, or who spent more than 183 days there in any 365 days. Morocco gives retirees from abroad a large reduction on tax on their pension.
Documents for the account
- Passport and, for a resident, a residence permit.
- Proof of address and source of income.
- For a non-resident account, a transfer from abroad.
What we do
- We choose a bank and account type.
- We prepare income documents.
- We calculate taxes when moving.
What else matters
- The first MAD 40,000 of income a year, about $4,200, is tax-free.
- Retirees from abroad get an 80% reduction on tax on a pension transferred to Morocco.
- Morocco gives no residence or citizenship for investment; a passport can be obtained after 5 years of legal residence.
- Since July 2026 paying cash for a home adds 2% to the purchase, so large payments go through a bank.
More on citizenship on our Morocco citizenship page.
How to open a personal account: the steps
- Choosing the account type: a resident dirham account or a non-resident convertible dirham account.
- Documents: passport, address, source of income.
- Transferring money from abroad to the convertible account if you are a non-resident.
- A bank visit and card issue.
What we do
- Personal account - opening assistance
See also
Company formation · Business account · Investment property · Country taxes · All country programs
We will calculate online the cost of opening a personal account and maintaining it for a year.
FAQ
Can a non-resident open an account in Morocco?
What is the tax on deposit interest in Morocco?
Who is a Moroccan tax resident?
What is the tax-free allowance in Morocco?
Are there reliefs for foreign retirees in Morocco?
Does Morocco give residence for investment?
What is the tax on renting out a home in Morocco?
How many days make you a Moroccan tax resident?
What is Morocco's income tax?
Can money be transferred from Morocco abroad?
What is the dividend tax in Morocco?
What documents are needed for a Moroccan account?
Are a Moroccan resident's foreign dividends taxed?
Is there inheritance tax in Morocco?
How much does an account cost in Morocco?
Can you open a Moroccan account before moving?
Need a personal account in Morocco?
We assess which bank will accept your profile, prepare the source of funds documents and support the opening. All countries are in the searchable catalogue.
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