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Advice to Foreign investors

Last activity 26 July 2019 by Dizzl

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nader18

One of the costliest component of doing business is working in an environment with an inefficient and archaic bureaucratic system.
Morocco, unfortunately still lingers on to a colonial system of doing business which restricts growth and cause unnecessary delays resulting in loss of time and money.
I have gone through the exercise of establishing a business in Morocco where I had to fulfill the same requirements repeatedly.

My advice to foreign investors is to hire a good consultant , get to know the local laws of investing, taxation, banking and how to get started.

GuestPoster840

true

nguemradi

I would not invest in Morocco. U'll ne shafted anyway.

Olga-Lis

My advice  is not invest.  You will lost everything  and might to go to prison. 
A lot frauds here

nader18

Morocco throws many challenges at someone new to the system .
Can you elaborate on your statement of ending up in prison ; please share any experience that you or someone that you know of ended up with such an unpleasant situation

Goldkhalifa

nader18 wrote:

Morocco throws many challenges at someone new to the system .
Can you elaborate on your statement of ending up in prison ; please share any experience that you or someone that you know of ended up with such an unpleasant situation


Unpaid debts can have you end in prison in Morocco , but not a long sentence

Dizzl

It all depends on what you are doing/planning to do in Morocco. Whatever you think the budget is, double it, to plan for the worst, and plan for delays.

There is plenty of money to be made in Morocco, but you have to be careful, like you would in any country in the world.

Make sure you learn and understand what is happening, there's no point in paying someone to do it for you, and not learning from what is going on, if you want to be self reliant.

I've learnt a lot, and lost a lot in Morocco, but it's part of the experience, and part of the naivety arriving somewhere, thinking you can do better, but Nader was correct, the system does hold you back, and prevent a lot of growth; however, if you can survive that, get the business running, and start making money, it's all worthwhile.

For those looking to invest, and think they can setup, and run the business remotely, you might as well burn the money you're thinking to invest.

Morocco requires work, daily work to succeed, any business which handles money, if you hadn't noticed, has one person sitting on the till, and one person only handling the money with good reason.

Fail to prepare, prepare to fail.

If you can survive the first year, and you have a sound business plan, where you are the key person to the business it will flourish. Choose a business where anyone can do it; prepare to have it copied and be undercut as soon as you 'seem' to be profitable.

As for prison... keep one simple rule... don't write a cheque if you don't have the money, if you dont have the money, don't bother to begin. Simple.

Good Luck!

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