Business opportunities in morocco and Gibraltar 2021

Gibraltar and Morocco are natural partners united by geography, culture, shared interests, and a common goal, to strengthen bilateral relations between the two governments. Situation that will allow the creation of business opportunities in Morocco and Gibraltar.

Proof of this trade and diplomatic rapprochement between the two nations, was the 2016 visit of tourism minister Gilbert Licudi to Morocco. On that diplomatic visit, Mr. Licudi visited the 4 most important cities in Morocco, Rabat, Casablanca, Marrakech and Tangier. The purpose of this visit was to strengthen business ties and create new partnerships between companies.

Since then, great progress has been made, so much so that new bilateral agreements have been negotiated between companies on both sides of the strait with the aim of increasing trade interactions and the exchange of tourists on both sides of the strait.

Why Morocco?

Morocco has industrial free zones with a great international reputation. Tangier MED Free Zone, is considered to be one of the 5 best free zones in the world. Thanks to these free zones, the government offers excellent fiscal and commercial conditions to any entrepreneur who decides to transfer hisindustry/production there for a period of 20 years. In addition, Morocco offers huge advantages such as a bilingual population and polyglot in many cases, vocational training adapted to its activity, tax exemptions, bilateral agreements with the main world markets…

Tánger Med Free Zone
Tánger Med Free Zone

 

Why Gibraltar?

In turn, it emphasises that Gibraltar is an important global financial centre with great reputation and that it can be of enormous interest to its business activities with the United Kingdom or Europe. Gibraltar has great tax advantages and best of all, agility and friendly bureaucracy. The Government of Rock also offers great fiscal and competitive advantages to all athletes, entrepreneurs or entrepreneurs who want to install or undertake their activity there.

It is for all this and much more, that since Blue Consulting, we have opted to get out of the box again and expand our services even further. We have reached an agreement with Gibraltar Morroco Business Exchange (GMBE) with which we intend to build bridges between Gibraltar and Morocco in order to further promote bilateral relations between the two states at multiple levels.

Business Opportunities in Morocco and Gibraltar
Tanker – Strait of Gibraltar

 

Through this collaboration, we aim to give the necessary support to all the freelancers, athletes, or entrepreneurs who want to settle in Gibraltar or in Morocco (in the different free zones such as Tangier MED Free Zone). Promoting commercial, tourist, cultural and artistic relations between the two nations.

 

Why Tanger Med Free Zone ?

– Attractive tax benefits
– Subsidies of the Moroccan State
– Free trade agreements
– Simplified administrative procedures

Corporation Tax:

– Total exemption during the first 5 years.
– Reduced rates: 15% for the next 20 years.

Criteria for Eligibility:

– At least 70% of the turnover must be exported.

Conditions:

– Authorization of the Governor with the approval of the local board of export processing zones.

Exchange:

– The exemption from the prescriptions issued by the Exchange Office in the matter of currency transfer.
– No restrictions on repatriation of capital and convertibility.
– Transactions in free foreign currency.
– Possibility of using dirhams banknotes to make settlements solely for the benefit of residents for the following expenses: Salaries and other emoluments without limitation of amount and Costs of transport, repair, work and supply of products from the territory subject to the limit of 5000 dirhams per operation and a ceiling of 150,000 dirhams per year per operator.

 

Conclusion:

For both countries, the advantages are enormous. With Morocco’s access to Gibraltar, many companies can access new trade agreements, greater facilities in raising capital and investors, access to a new market such as Anglo-Saxon and many other advantages. For Gibraltar, it represents a new commercial opportunity to be able to expand links with Rabat, which will give you access to Morocco, the Maghreb and why not, the rest of the African continent.

To specify that our partner, GMBE has offices in a busy shopping district of Tangier. If you have any questions or concerns, please contact us.

 

Sources:

  1. https://www.blueconsulting.eu/es/
  2. https://www.facebook.com/GibMaroc/
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