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Morocco: accounts and payments
A North African economy with close trade links to Europe and a financial centre in Casablanca. CCYFX PAY INC assesses each entity individually, subject to due diligence and only where we are permitted to provide services.
Common entity types
The structures most often used in this jurisdiction. Other entity types are assessed on request.
- SARL
- SA
How payments work
Payments usually travel by SWIFT. Payment in MAD is available on request, subject to availability and local rules.
- Account details
- If your entity is approved, we confirm which named account details are available to it. Availability depends on your jurisdiction, sector and our banking partners.
- Foreign exchange
- Spot conversion at a rate your dealer quotes and confirms in writing before you fund.
- Local rules
- Some countries restrict how money enters or leaves. We ask how your payments comply with any local exchange controls.
- Screening
- Every client, owner and beneficiary is screened at onboarding and on every payment.
What we ask companies to provide
We confirm the exact list for your structure when you apply. Documents in other languages may need a certified translation.
Company
- Certificate of incorporation or registry extract
- Constitutional documents
- Recent certificate of good standing, where available
- Registers of directors and shareholders
Ownership
- Ownership chart to individuals with 25% or more
- Board resolution naming signatories
- Source of funds and source of wealth evidence
- Any licence your activity requires
Individuals
- Government-issued photo identification
- Proof of residential address
- Politically exposed person declaration
- Tax residency declaration
Enhanced due diligence
Where a country is on the FATF list of jurisdictions under increased monitoring, or presents higher risk for another reason, we apply enhanced due diligence to ownership, substance and source of funds. We do not onboard countries on the FATF call-for-action list or under comprehensive sanctions. These lists change, so we check them at onboarding and throughout the relationship.
This page is general information to help you prepare for onboarding. It is not legal or tax advice, and it is not an offer of services in this jurisdiction. Please confirm current requirements with your legal adviser.
Start an application
Apply online in about ten minutes. We will reply with the documents your structure requires and an indicative timeline for onboarding.