Tangier Free Zone: Tangible benefits

10 February 2006
The benefits offered by the Tangier free trade zone are expected to be an added incentive for international trade and foreign direct investment.

The Tangier free zone will enable companies to benefit from a wealth of incentives, including exemption from customs clearance formalities and exchange controls, and the availability of offshore banking services. It is a partnership between the Industry Ministry and Tangier Free Zone Company - itself a consortium of Moroccan private businesses BCM, BMCE, SNI, Compagnie Africaine d’Assurance, Royal Marocaine d’Assurance and Caisse Interprofessionnelle Marocaine de Retraites.

The zone will be divided into:

  1. A 130-hectare logistics free zone focused on services and transformation and assembly industries, offering office accommodation for an estimated 110 enterprises, 49,000 square metres of warehousing, a customs office, a shopping and leisure complex, banking services and a lorry park with capacity for 900 vehicles;

  2. A 600-hectare industrial free zone, 25 kilometres from the port, which will be an extension to the Tangier free zone formed in 2001 and will offer office plots of between 1,000-20,000 square metres, a one-stop shop for investors, warehouse space, restaurants and a health centre; and

  3. A 200-hectare commercial free zone, 18 kilometres from the port, to accommodate up to 500 wholesale and retail trade enterprises and service companies.

Specific benefits of the free zone will include:

  • Simplified administrative procedures;

  • Exemption from legislation governing foreign trade and currency controls;

  • Foreign exchange freedom and freedom to transfer profits and capital;

  • Exemption from all duties, taxes and surcharges due on the importation, circulation, consumption, production and/or exportation of goods;

  • Exemption from registration taxes and stamp duty for the constitution or augmentation of capital or acquisition of plots;

  • Fifteen-year exemption from licence tax and urban property tax;

  • Exemption from company tax for the first five years and a reduction of 8.75 per cent thereafter;

  • Exemption from share dividend taxes for non-residents and a 7.5 per cent reduction for residents; and

  • Exemption from value-added tax on goods coming from abroad.

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