Christophe Bachelet, Morocco country manager for global law firm DLA Piper, provided tips and advice on how to build businesses in Morocco at the Jerusalem Post Global Investment Forum in Marrakech, Morocco, on Thursday. Bachelet participated in a panel moderated by Maayan Hoffman, Head of Conferences for the Jerusalem Post.
Bachelet addressed the most common questions posed by companies planning to conduct business in Morocco. He assured those in attendance that English is the standard business language used in Morocco, and knowledge of French or Arabic is not required. Bachelet added that foreign businesses setting up shop in Morocco could set up a subsidiary and are not obligated to take on a local business partner. Such companies are permitted by law to have an international board of directors and have the company operated by management abroad.
“I think that Israel has the potential to gain a large market share in Morocco”Yann Assor
Building trust through business
Bachelet said that companies that want to organize businesses in Morocco would have to follow KYC standards when opening local bank accounts, but added that these requirements are no more stringent in Morocco than in other parts of the world.
Other participants in the panel included business consultant Tami Dayan and Yann Assor, Vice President of the Morocco-Israel Business Council. Dayan said building trust with people in the region is essential for successful business transactions. Assor noted that many Israelis have roots in Morocco and are delighted to reconnect here. “I think that Israel has the potential to gain a large market share in Morocco,” he said.