Current Transfers Abroad from Morocco: Comprehensive Guide to Rules and Required Documents (IGOC 2026)

The General Instruction on Exchange Operations (IGOC) 2026, particularly through its articles 156 to 177, establishes the essential regulatory framework for current transfers of funds from Morocco abroad. These operations encompass a wide range of transactions: employment income for foreign employees, investment income such as dividends and rents, retirement pensions, social security contributions, and various other current operations like school fees or medical care. While these transfers are generally free, they require the submission of specific supporting documents to intermediary banks.

This article decrypts the main categories of current transfers and the corresponding documentary obligations, helping you navigate the Exchange Office regulations with clarity.

Transfer of Employment Income (Art. 156-162)

Foreign Employees in Morocco

Individuals of foreign nationality working in Morocco have the right to transfer their employment income abroad. The transferable amount corresponds to the net salary after tax, following deduction of Income Tax (IR) withheld at source, mandatory social security contributions (CNSS/AMO), and living expenses in Morocco.

To make these transfers, the following documents must be presented to your bank:

• The employment contract, duly endorsed by the Ministry of Employment.
• Payslips covering the period concerned by the transfer.
• The certificate of IR withholding at source, provided by the employer.
• A copy of the valid residence permit or title.

Proper accounting management by the employer is crucial to ensure the conformity of these documents.

Moroccans Residing Abroad (MREs) on Assignment and Final Settlement

Moroccans Residing Abroad (MREs) temporarily assigned to Morocco by their foreign employer can also transfer the portion of their remuneration paid locally, under the same documentary conditions. At the end of the contract, the final settlement (including severance pay, unused paid leave, end-of-mission bonuses) is transferable, provided the receipt for final settlement and the work certificate are submitted.

Transfer of Investment Income (Art. 163-169)

Transfer Guarantee and Attractiveness

The guarantee of transfer for investment income is a major asset for Morocco's attractiveness to foreign investors. IGOC 2026 confirms the right to transfer:

• Dividends and profit shares distributed by Moroccan companies.
• Interest on loans and shareholder current account advances.
• Rental income derived from real estate located in Morocco.
• Net profits of branches and permanent establishments.

Rigorous accounting is essential to prepare these transfers.

Required Documents for Investors

For each transfer of investment income, the intermediary bank will require the following documents:

• Certified balance sheets and Income Statements (CPC) for the fiscal year concerned.
• The minutes of the General Assembly (PV AG) deciding the distribution of profits.
• Tax receipts proving payment of the applicable withholding tax (currently 11.25% in 2026, then 10% from 2027, unless a tax treaty provides a more favorable rate).
• The investment sheet for operations under the convertibility regime.

The transfer is made on the net amount after tax and any Moroccan tax withholding. The investor must be in a regular tax situation in Morocco. For complex questions or clarifications, legal advice can be invaluable.

Various Current Operations (Art. 170-177)

Social Charges and Retirement Pensions

Moroccan employers with foreign staff affiliated with foreign social security schemes are authorized to transfer the corresponding employer and employee social contributions. Similarly, Moroccan pension funds can transfer retirement pensions to beneficiaries residing abroad, subject to providing a pension certificate and a life certificate.

Rents and Alimony

The transfer of rents to non-resident landlords is permitted upon presentation of the registered lease contract and receipts for housing tax and communal services. Alimony, if established by judicial decision, is transferable upon submission of the enforceable judgment and proof of the beneficiary's residence abroad.

Professional Contributions and Various Expenses

The Exchange Office also authorizes the transfer of funds for the following operations:

• Contributions to international professional organizations (professional bodies, sectoral associations), with proof of membership.
• Legal fees incurred abroad for international disputes or arbitrations, upon presentation of the fee agreement and invoices.
• Family expenses, including school fees for children studying abroad (enrollment letter, proof of school fees) and medical expenses abroad (medical quote, hospital invoices).

Common Documentary Obligations for All Transfers

For all these operations, the approved intermediary bank performs several checks:

• The identity of the originator and their status (resident or non-resident).
• The consistency of the transfer amount with the supporting documents provided.
• The payment of all Moroccan tax obligations related to the operation. Professional accounting expertise is essential to ensure this compliance.
• Compliance with any ceilings defined by IGOC 2026 or circulars from the Exchange Office.

Banks are obliged to retain all supporting documents for five years and make them available to the Exchange Office during inspections.

Navigating exchange regulations for current transfers can be complex. Ensuring proper compliance and adequate document preparation is essential to avoid any blockages. iHub is here to support you in these processes, guaranteeing the fluidity and legality of your international financial operations.