Business law
Choosing a company form in Morocco: SARL and SA at a glance
Setting up a business in Morocco starts with choosing a legal form. This overview compares the two forms most used by entrepreneurs and foreign investors, the limited liability company (SARL) and the public limited company (SA), and lists the points to check before you register.
1. The SARL: the most common choice
- Governed by Law No. 5-96, which also covers general and limited partnerships.
- It can be formed by one or more partners, and liability is generally limited to the contributions made.
- Its share capital is freely set by the partners in the articles: according to the sources consulted, the statutory minimum was removed. A capital that reflects the real needs of the business remains advisable.
2. The SA: for larger or structured projects
- Governed by Law No. 17-95.
- A more formal governance framework (board or supervisory bodies, shareholders’ meetings, statutory auditors in many cases).
- Capital and number of shareholders are subject to legal requirements that must be checked on the current text before incorporation.
3. Quick comparison
| Criterion | SARL | SA |
|---|---|---|
| Typical use | Small and medium businesses | Larger projects, investors, listing plans |
| Formalism | Lighter | Heavier |
| Governance | Manager(s) | Board or dual structure |
| Share transfer | Restricted by law and articles | More flexible, subject to the articles |
4. Steps and points to check before registering
- Choose the legal form and draft the articles of association (in Arabic or French, depending on the case).
- Obtain the negative certificate confirming that the company name is available.
- Carry out the registration formalities (commercial register, tax, social security), usually through the regional investment centre.
- Check the rules for foreign shareholders and any sector-specific licence.
Check the current texts. Company law thresholds and formalities change. Verify them on the current versions of Laws No. 5-96 and No. 17-95, which are listed in our legal library, before making any decision.
Need help choosing a form?
Maître Jamal Lezbare, Meknes Bar, receives clients by appointment, in French and Arabic. Contact the law firm.
Maître Jamal Lezbare, Meknes Bar, receives clients by appointment, in French and Arabic. Contact the law firm.
This article is general information for educational purposes. It is not legal advice. Last updated: 26 September 2026.