In the shoes of an investor
WHERE to apply for investment assistance? What are the case processing times? What checks are carried out before the allocation of an investment bonus? So many questions posed by interested investors and to which L’Economiste publishes the answers. Framework law no. 03-22 relating to the Investment Charter provides for four investor assistance mechanisms, but in a first phase, only the so-called “main” mechanisms and the one intended for strategic projects are operational. To be eligible for the so-called main mechanism, one must demonstrate his or her intention to make an investment of at least 50 million Dirhams (USD 5 million) and the creation of at least 50 stable jobs. Investments that provide for the creation of 150 jobs are also targeted, regardless of the amount invested. The second category of investment that falls within the scope of the main mechanism concerns strategic projects. These are projects whose total investment amount is equal to or greater than 2 billion Dirhams (USD 200 million), fulfilling one of the five criteria set by the Charter. Projects in the defense sector are automatically qualified as strategic.
Where to submit an application: Interested persons are invited to submit their application for the conclusion of an investment agreement via the www.cri-invest.ma platform. The application must include a request for the conclusion of an investment agreement within the framework of the main provisions of the Charter, request to be sent to the president of the Unified Regional Investment Commission (Commission régionale unifiée d’investissement) according to the usual template.
The CRIs, first filter: Once the application has been submitted (obviously with all the required documents), the Regional Investment Centers (CRIs) carry out the necessary checks. According to the standardized procedures manual, these one-stop shops must respond to investors about the completeness of their application within a period not exceeding 48 hours. This deadline is part of the performance indicators of the CRIs. Complete applications are submitted for review by the Unified Regional Investment Commission within seven working days. The Commission, in turn, must respond to investors within 30 days.
After a favorable opinion from the Commission, the agreement is introduced into the signature circuit. The funds required for the investment are released in tranches according to the phases defined in the framework of the investment agreement.
Hassan EL ARIF
