The ISO code of Morocco is MA according to the ISO 3166 standard. The local name of the country is Al Maghrib. Morocco capital city is Rabat. People in Morocco speak the Arabic language. On 7 April 1956, Morocco emerged as a sovereign political entity. In the year 04/07/1956, Morocco emerged as a sovereign political entity. The largest cities in Morocco are Rabat, Casablanca.
Morocco is located in the UTC +00:00 time zone, which is also called Western European Time or WET. The internet country code top-level domain (ccTLD) for Morocco is .ma. Other domains assigned to Morocco are المغرب.. The International dialing code for Morocco is 212. People in Morocco drive on the right side of the road. Total land area of Morocco is 446,550 km² (approx. 172,413 mi²). Morocco is not a landlocked country. It means that is is bordered by at least one major body of water.
Morocco is located in Africa. Morocco is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Currently Morocco faces various issues, including land degradation/desertification (soil erosion resulting from farming of marginal areas, overgrazing, destruction of vegetation), water supplies contaminated by raw sewage, siltation of reservoirs, oil pollution of coastal waters.
Doing business in Morocco
We offer various corporate services in Morocco jurisdiction. These services can serve both, people coming from Morocco and foreigners. If you plan on doing business in Morocco you might be interested in contacting us.
To find out about starting your business in Morocco click on company formation in Morocco.
To find out how to open a bank account in Morocco and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Morocco.
Choose preferred service below or continue reading to find out more about Morocco.
Demographics of Morocco
The total population of Morocco is 36,191,805 people. In Morocco, the population density is 75.65 people per square kilometer (197 per square mile). Because of this statistic, this country is considered to be sparsely populated. The ethnic diversity is diverse according to a fractionalization scale which for Morocco is 0.4841. Morocco has approximately 50771 foreign immigrants. The median age is approximately 28.1 years. In Morocco, 55 in every 100 people use internet. Morocco has a Human Development Index (HDI) of 0.617.
The majority religion of Morocco is Islam, Morocco is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Morocco.
Culture of Morocco
People in Morocco speak the Arabic language. According to data on inbound tourists in Morocco, 10,046,000 tourists arrive in the country each year. The first McDonalds in Morocco was opened on 18 December 1992, and it was located in Casablanca. One of the most popular national dishes of Morocco is couscous. To read more click on culture of Morocco.
Geography of Morocco
Morocco is considered to be a large nation because of its total area. Its total land area is 446,550 km² (approx. 172,413 mi²). Morocco is located in Africa. Its capital city is Rabat. Morocco has 3 neighbouring countries. Its neighbours include Algeria, Western Sahara, and Spain. Total length of land borders of Morocco is 2362.5 kilometers (~912 miles).
The highest point of Morocco is Jbel Toubkal, with its official height being 4165 m (13,665 ft). Including land mass and EEZ, the total area of Morocco is approximately 1,021,780 km² (~394,510 mi²). The most notable natural resources found in Morocco are phosphates, iron ore, manganese, lead, zinc, fish, salt.To read more click on geography of Morocco.
Economy of Morocco
The currency of the country is Moroccan dirham. The symbol used for this currency is د.م., and it is abbreviated as MAD. 9.3% of population in the country are unemployed. The total number of unemployed people in Morocco is 3,365,838. Each year, Morocco exports around $16.78 billion and imports roughly $38.66 billion. The Gini Index of the country is 40.9. Morocco has a Human Development Index (HDI) of 0.617.The Global Peace Index (GPI) for Morocco is 2.002. Morocco is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are automotive parts, phosphate mining and processing, aerospace, food processing, leather goods, textiles, construction, energy, tourism.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Morocco is $259,240 billion. Each year, consumers spend around $53,354 million. The ratio of consumer spending to GDP in Morocco is 0%, and the ratio of consumer spending to the world consumer market is 0.1538. The corporate tax in Morocco is set at 30%. Personal income tax ranges from 0% to 38%, depending on your specific situation and income level. VAT in Morocco is 20%. In 2013, Morocco received 1480.3 million USD in foreign aid.In 2014, the foreign aid amounted to 1455.6 USD.To read more click on economy of Morocco.
Infrastructure of Morocco
In Morocco, 100% of the population has access to electricity. There are 277,338 internet hosts in Morocco. Morocco has 55 airports nationwide.
The number of road motor vehicles per 1000 inhabitants in Morocco is 12. To read more click on infrastructure of Morocco.
Politics of Morocco
Morocco, is a unitary parliamentary constitutional monarchy. With regard to political and civil freedoms, Morocco is 2. Citizens in Morocco experience partial freedom. While the majority of citizens are able to exercise their free will to a certain extent in Morocco, some political engagement may be limited and certain population groups may be excluded from certain freedoms or expressions. The head of the government is Mohammed VI.
According to the World Bank Group, the government effectiveness index of Morocco is -0.14. This indicates that the government of Morocco is mediocre. While some public and civil services are limited, in other cases they can be considered adequate or even effective. Potential investors should carefully evaluate the governmental situation in Morocco before considering any business maneuvers.In Morocco, the legislative power is vested in a Parliament. The Global Peace Index (GPI) for Morocco is 2.002. The strength of legal rights index for Morocco is 2. Overall, it is considered to be rather weak - bankruptcy and collateral laws are unable to protect the rights of borrowers and lenders in case of credit-related complications; credit information, if any at all, is scarce and hardly accessible. In 2013, Morocco received 1480.3 million USD in foreign aid. In 2014, the foreign aid amounted to 1455.6 USD. Morocco is a member of the United Nations (UN). On 12 November 1956, it joined the UN as a full member state. Morocco is a member of the African Union (AU). On 25 May 1963, it joined the AU as a full member state. Morocco is a member of the World Bank. To read more click on politics of Morocco.
Environment of Morocco
Morocco emits 1.7 metric tons per capita of CO2. 111325 km² of Morocco's territory is covered in forests. and forest land comprises 25% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Morocco is 12. To read more click on environment of Morocco.
Company formation in Morocco
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Morocco.
When establishing a company in Morocco, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Morocco that will affect the establishment and growth of one's business. Contact us or click on company formation in Morocco to read additional information when setting up a business.
Bank account opening in Morocco
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Morocco. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Morocco, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Morocco or contact us.