The new version of the General Instruction for Foreign Exchange Transactions (IGOC-2022), the provisions of which entered into force on January 1, 2022, provides for the increase to 200 million dirhams (MDH) of the authorized ceiling for any Moroccan investment in the period. ‘foreigner.
This ceiling was set at MAD 100 million for investments in Africa and at 50 million for other continents, indicates the Foreign Exchange Office in a press release on IGOC-2022.
The new version of this general instruction has set up facilities for the development of national start-ups, listed by the Digital Development Agency (ADD), both in terms of investment abroad and regarding imports of services paid by payment card, bringing the amount to one (1) million dirhams, instead of 500,000 dirhams previously planned, the same source said. In addition, IGOC-2022 provides for a set of facilitation and flexibility measures to better support economic operators in carrying out their international operations.
Also and with regard to the promotion of exports, the said General Instruction provides for a set of facilitations in favor of Moroccan exporters. They can thus use the availability of their accounts in foreign currencies or convertible dirhams for the payment of down payments or the advance payment of imports of goods and services without capping.
In addition, IGOC-2022 provides for entities that do not have accounts in foreign currencies or convertible dirhams an allocation within the limit of 200,000 dirhams for the payment by international payment card of their imports of services related to their activities.
This general instruction incorporates a set of provisions geared to a large extent towards building confidence, improving the business climate and contributing to the effort to revive the national economy by offering more regulatory flexibility, by perfect consultation with the various partners. The new measures introduced by IGOC-2022 aim to encourage the act of exporting and investing, supporting economic operators, giving a strong impetus to the development of start-ups and guaranteeing natural persons better access. to foreign currencies.