Private limited company (SARL):
(Act no 5-96 completed and modified by Act 21-05)
This is a commercial company in which the number of shareholders varies between a "single shareholder" and 50 who come together to build up the capital which cannot be less than MAD 10,000
The shares shall have a minimum nominal value of 10 dhs, they are freely transferable by way of inheritance and assignable between spouses and parents, and cannot be transferred to third parties without the consent of the majority of shareholders;
The shares representing contributions in cash shall be paid up by at least a quarter of their value;
The shareholders are only liable up to their contribution;
The SARL can be managed by one or more individuals who are jointly and severally liable vis-à-vis third parties.
The SARL is the form of company that meets the most success, it is midway between the partnerships and limited companies.
- Ownership title deed, registered lease agreement or certificate of residence;
- Articles of Incorporation signed by partners and registered;
- If the manager is not appointed in the articles of incorporation, recorded minutes of the Ordinary General Meeting ;
- Certificate of freezing at least MAD 100,000;
- Report of the contributions' auditor (if any);
- Photocopy of national identity card of manager (For foreign residents a photocopy of the registration card and for nonresident indivduals a photocopy of the passport);
- Statement of Conformity;
- Negative certificate.
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