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L’entrée en vigueur effective du dispositif\nau 1er janvier 2026 modifie en profondeur les paramètres de décision d’implantation des\ninvestisseurs étrangers au Maroc.","investissements-etrangers-maroc-2026","La nouvelle charte de l’investissement et les décrets d’application réorganisent l’éligibilité aux primes, les zones d’accélération industrielle et les obligations de reporting auprès de l’AMDIE. Lecture pratique.","Maître Karim Bennani","2026-04-28","14 min",{"type":17,"children":18,"toc":414},"root",[19,42,47,54,59,83,107,117,123,135,191,203,209,236,241,264,283,289,301,311,328,345,351,356,373,389,405],{"type":20,"tag":21,"props":22,"children":23},"element","p",{},[24,27,33,35,40],{"type":25,"value":26},"text","La nouvelle ",{"type":20,"tag":28,"props":29,"children":30},"strong",{},[31],{"type":25,"value":32},"charte de l’investissement",{"type":25,"value":34}," issue de la loi-cadre 03-22 promulguée par le\ndahir n° 1-22-76 du 14 décembre 2022, complétée par ses décrets d’application publiés\nprogressivement au cours de l’année 2025, organise désormais l’ensemble du régime\nd’incitation à l’investissement au Maroc. Elle remplace l’ancienne charte de 1995 et\nplusieurs régimes sectoriels devenus illisibles. 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Il permet de négocier des dispositions sur mesure : foncier mis à\ndisposition, avantages fiscaux dérogatoires, engagements de l’État sur les infrastructures.",{"type":20,"tag":21,"props":108,"children":109},{},[110,115],{"type":20,"tag":28,"props":111,"children":112},{},[113],{"type":25,"value":114},"Les régimes sectoriels",{"type":25,"value":116}," (offshoring, énergies renouvelables, automobile, aéronautique,\nplateforme exportatrice) maintiennent leurs avantages spécifiques, désormais articulés avec\nle régime principal pour éviter les doubles emplois.",{"type":20,"tag":48,"props":118,"children":120},{"id":119},"les-zones-déligibilité-revues",[121],{"type":25,"value":122},"Les zones d’éligibilité revues",{"type":20,"tag":21,"props":124,"children":125},{},[126,128,133],{"type":25,"value":127},"Le territoire marocain est désormais réparti en ",{"type":20,"tag":28,"props":129,"children":130},{},[131],{"type":25,"value":132},"trois catégories d’éligibilité",{"type":25,"value":134}," définies\npar le décret n° 2-23-01 du 8 mars 2023 :",{"type":20,"tag":136,"props":137,"children":138},"ul",{},[139,157,174],{"type":20,"tag":140,"props":141,"children":142},"li",{},[143,148,150,155],{"type":20,"tag":28,"props":144,"children":145},{},[146],{"type":25,"value":147},"Catégorie A",{"type":25,"value":149}," — zones prioritaires (provinces du Sud, régions enclavées, zones en\nreconversion industrielle) : prime majorée jusqu’à ",{"type":20,"tag":28,"props":151,"children":152},{},[153],{"type":25,"value":154},"30 %",{"type":25,"value":156}," de l’investissement éligible.",{"type":20,"tag":140,"props":158,"children":159},{},[160,165,167,172],{"type":20,"tag":28,"props":161,"children":162},{},[163],{"type":25,"value":164},"Catégorie B",{"type":25,"value":166}," — zones intermédiaires (corridor atlantique hors agglomérations majeures,\npôles régionaux) : prime de ",{"type":20,"tag":28,"props":168,"children":169},{},[170],{"type":25,"value":171},"15 % à 22 %",{"type":25,"value":173},".",{"type":20,"tag":140,"props":175,"children":176},{},[177,182,184,189],{"type":20,"tag":28,"props":178,"children":179},{},[180],{"type":25,"value":181},"Catégorie C",{"type":25,"value":183}," — agglomérations principales (Casablanca, Rabat, Tanger, Marrakech) : prime\nde ",{"type":20,"tag":28,"props":185,"children":186},{},[187],{"type":25,"value":188},"7 % à 12 %",{"type":25,"value":190},", principalement pour les projets à forte intensité technologique ou\nexportateurs.",{"type":20,"tag":21,"props":192,"children":193},{},[194,196,201],{"type":25,"value":195},"Cette répartition est complétée par les ",{"type":20,"tag":28,"props":197,"children":198},{},[199],{"type":25,"value":200},"zones d’accélération industrielle (ZAI)",{"type":25,"value":202}," —\nnouvelles dénominations des anciennes zones franches — qui conservent un régime fiscal\nparticulier sur les bénéfices d’exportation (5 % pendant 20 ans à compter de la première\nopération d’exportation, sous conditions).",{"type":20,"tag":48,"props":204,"children":206},{"id":205},"le-rôle-réorganisé-de-lamdie",[207],{"type":25,"value":208},"Le rôle réorganisé de l’AMDIE",{"type":20,"tag":21,"props":210,"children":211},{},[212,214,219,221,226,228,234],{"type":25,"value":213},"L’",{"type":20,"tag":28,"props":215,"children":216},{},[217],{"type":25,"value":218},"Agence Marocaine de Développement des Investissements et des Exportations (AMDIE)",{"type":25,"value":220}," voit\nson rôle de ",{"type":20,"tag":28,"props":222,"children":223},{},[224],{"type":25,"value":225},"guichet unique",{"type":25,"value":227}," consacré. 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réforme du Code de commerce marocain — ce que l’entreprise doit retenir","La réforme issue de la loi 89-22, promulguée par le dahir n° 1-24-30 du 15 février 2024 et\npubliée au Bulletin officiel n° 7280, modifie de manière substantielle plusieurs livres du\nCode de commerce marocain (loi 15-95 du 1er août 1996). Adoptée à la suite d’un long travail\nde la Commission de la Justice et après une large concertation avec le Conseil de la\nConcurrence, l’AMMC et la CGEM, elle poursuit trois objectifs déclarés : moderniser le droit\ndes effets de commerce à l’ère de la dématérialisation, harmoniser les délais de prescription\nsur les standards internationaux, et fluidifier les procédures collectives au bénéfice du\nsauvetage des entreprises viables.","reforme-code-commerce-marocain-2024","La loi 89-22 modifiant le Code de commerce a remodelé les règles relatives aux effets de commerce, à la prescription commerciale et aux procédures collectives. Analyse des principales conséquences pratiques pour les entreprises marocaines et étrangères.","Maître Yasmine Tahiri","2026-03-12","12 min",{"type":17,"children":745,"toc":1001},[746,750,755,761,794,799,817,827,833,845,864,870,875,899,916,940,946,970,976,981,993],{"type":20,"tag":21,"props":747,"children":748},{},[749],{"type":25,"value":738},{"type":20,"tag":21,"props":751,"children":752},{},[753],{"type":25,"value":754},"Cet article propose une lecture pratique des principales nouveautés et de leurs conséquences\nimmédiates pour les directions juridiques, les conseils d’administration et les commissaires\naux comptes.",{"type":20,"tag":48,"props":756,"children":758},{"id":757},"effets-de-commerce-la-lettre-de-change-électronique-consacrée",[759],{"type":25,"value":760},"Effets de commerce : la lettre de change électronique consacrée",{"type":20,"tag":21,"props":762,"children":763},{},[764,766,771,773,778,780,785,787,792],{"type":25,"value":765},"L’apport central du livre III réformé est la consécration légale de la ",{"type":20,"tag":28,"props":767,"children":768},{},[769],{"type":25,"value":770},"lettre de change\nélectronique",{"type":25,"value":772},", jusqu’ici dépourvue de cadre exprès. Le nouvel article 159 bis pose que la\nlettre de change peut être créée, transmise et acceptée sous forme électronique, dès lors que\nle procédé utilisé garantit l’",{"type":20,"tag":28,"props":774,"children":775},{},[776],{"type":25,"value":777},"identification",{"type":25,"value":779}," du tireur et du tiré, l’",{"type":20,"tag":28,"props":781,"children":782},{},[783],{"type":25,"value":784},"intégrité",{"type":25,"value":786}," du\ncontenu depuis la création et la ",{"type":20,"tag":28,"props":788,"children":789},{},[790],{"type":25,"value":791},"conservation",{"type":25,"value":793}," sécurisée pendant le délai de prescription.",{"type":20,"tag":21,"props":795,"children":796},{},[797],{"type":25,"value":798},"Sont reconnues comme satisfaisant ces exigences les solutions reposant sur :",{"type":20,"tag":136,"props":800,"children":801},{},[802,807,812],{"type":20,"tag":140,"props":803,"children":804},{},[805],{"type":25,"value":806},"une signature électronique qualifiée au sens de la loi 53-05 sur l’échange électronique de\ndonnées juridiques,",{"type":20,"tag":140,"props":808,"children":809},{},[810],{"type":25,"value":811},"un horodatage certifié par un prestataire reconnu par l’Agence nationale de réglementation\ndes télécommunications (ANRT),",{"type":20,"tag":140,"props":813,"children":814},{},[815],{"type":25,"value":816},"un système d’archivage à valeur probante répondant aux référentiels publiés par la Direction\nGénérale de la Sécurité des Systèmes d’Information (DGSSI).",{"type":20,"tag":21,"props":818,"children":819},{},[820,825],{"type":20,"tag":28,"props":821,"children":822},{},[823],{"type":25,"value":824},"Conséquence pratique",{"type":25,"value":826}," — Les entreprises qui souhaitent recourir à la lettre de change\nélectronique doivent contractualiser avec un prestataire de confiance qualifié et adapter\nleur convention bancaire d’escompte pour intégrer l’acceptation par leur banque des effets\ndématérialisés. Une mise à jour des procédures internes de validation est également\nrecommandée.",{"type":20,"tag":48,"props":828,"children":830},{"id":829},"prescription-commerciale-un-délai-unifié-à-cinq-ans",[831],{"type":25,"value":832},"Prescription commerciale : un délai unifié à cinq ans",{"type":20,"tag":21,"props":834,"children":835},{},[836,838,843],{"type":25,"value":837},"L’ancien article 5 du Code de commerce établissait un délai de prescription commerciale de\ncinq ans, sauf dispositions spécifiques contraires plus courtes. La réforme ",{"type":20,"tag":28,"props":839,"children":840},{},[841],{"type":25,"value":842},"maintient le\ndélai quinquennal",{"type":25,"value":844}," mais clarifie son point de départ : le délai court désormais à compter du\njour où le titulaire du droit a connu — ou aurait dû connaître — les faits lui permettant de\nl’exercer (article 5 modifié).",{"type":20,"tag":21,"props":846,"children":847},{},[848,850,855,857,862],{"type":25,"value":849},"Cette ",{"type":20,"tag":28,"props":851,"children":852},{},[853],{"type":25,"value":854},"prescription glissante",{"type":25,"value":856}," rapproche le droit marocain du modèle français issu de la\nréforme de 2008 et des standards retenus dans la Convention de Vienne sur la vente\ninternationale de marchandises. Pour les contrats de longue durée — fournitures industrielles,\nlicences technologiques, contrats de distribution — elle modifie significativement le calcul\ndes risques contentieux. Une ",{"type":20,"tag":28,"props":858,"children":859},{},[860],{"type":25,"value":861},"revue contractuelle",{"type":25,"value":863}," est recommandée pour les contrats en\ncours dont l’exécution s’étale au-delà de cinq ans.",{"type":20,"tag":48,"props":865,"children":867},{"id":866},"procédures-collectives-la-conciliation-renforcée",[868],{"type":25,"value":869},"Procédures collectives : la conciliation renforcée",{"type":20,"tag":21,"props":871,"children":872},{},[873],{"type":25,"value":874},"Le livre V du Code de commerce, relatif aux difficultés des entreprises, est lui aussi\nsubstantiellement modifié. Trois évolutions méritent d’être signalées.",{"type":20,"tag":21,"props":876,"children":877},{},[878,883,885,890,892,897],{"type":20,"tag":28,"props":879,"children":880},{},[881],{"type":25,"value":882},"Première évolution",{"type":25,"value":884}," — La ",{"type":20,"tag":28,"props":886,"children":887},{},[888],{"type":25,"value":889},"procédure de conciliation",{"type":25,"value":891}," (articles 549 à 559) est étendue\naux entreprises ",{"type":20,"tag":28,"props":893,"children":894},{},[895],{"type":25,"value":896},"rencontrant des difficultés économiques, juridiques ou financières\nprévisibles",{"type":25,"value":898},", sans qu’un état de cessation des paiements imminent soit exigé. Cette\nouverture en amont vise à favoriser la détection précoce et le traitement amiable des\ndifficultés, dans l’esprit des dispositifs comparables au mandat ad hoc français.",{"type":20,"tag":21,"props":900,"children":901},{},[902,907,909,914],{"type":20,"tag":28,"props":903,"children":904},{},[905],{"type":25,"value":906},"Deuxième évolution",{"type":25,"value":908}," — Le ",{"type":20,"tag":28,"props":910,"children":911},{},[912],{"type":25,"value":913},"rôle du commissaire aux comptes",{"type":25,"value":915}," dans le déclenchement de la\nprocédure d’alerte est précisé. Le commissaire doit désormais informer le président du\ntribunal de commerce de l’ouverture de la procédure d’alerte, et lui communiquer copie du\nrapport adressé au conseil d’administration. Cette transparence renforcée vise à éviter les\nouvertures tardives de procédures collectives.",{"type":20,"tag":21,"props":917,"children":918},{},[919,924,926,931,933,938],{"type":20,"tag":28,"props":920,"children":921},{},[922],{"type":25,"value":923},"Troisième évolution",{"type":25,"value":925}," — Les ",{"type":20,"tag":28,"props":927,"children":928},{},[929],{"type":25,"value":930},"classes de créanciers",{"type":25,"value":932}," sont introduites dans la procédure de\nsauvegarde et de redressement (articles 599 et suivants). Le plan présenté au tribunal est\nvoté par chaque classe homogène de créanciers (banques garanties, fournisseurs chirographaires,\nporteurs d’obligations), ce qui aligne le droit marocain sur les standards de la directive\neuropéenne 2019\u002F1023 et de la jurisprudence anglo-saxonne en matière de ",{"type":20,"tag":229,"props":934,"children":935},{},[936],{"type":25,"value":937},"cross-class\ncram-down",{"type":25,"value":939},". 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Les\ndispositions relatives aux procédures collectives s’appliquent aux procédures ouvertes à\ncompter du ",{"type":20,"tag":28,"props":966,"children":967},{},[968],{"type":25,"value":39},{"type":25,"value":173},{"type":20,"tag":48,"props":971,"children":973},{"id":972},"premiers-retours-dexpérience",[974],{"type":25,"value":975},"Premiers retours d’expérience",{"type":20,"tag":21,"props":977,"children":978},{},[979],{"type":25,"value":980},"Les premières applications devant les tribunaux de commerce de Casablanca, Rabat et Marrakech\nlaissent entrevoir une montée en puissance progressive. La procédure de conciliation élargie\nest sollicitée par un nombre croissant de PME industrielles. 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