Droits d'enregistrement sur cession d'actions (CGI art. 129-IV-25° et 133 ; LF 2026 - loi n° 50-25)

Share transfers carry no registration duty in Morocco - but from 2026 you need a certificate to prove it.

Transfers of shares are EXEMPT from registration duty - but since the 2026 Finance Act the exemption is conditional on producing an 'attestation de non-prépondérance immobilière' (certificate that the company is not real-estate predominant), issued on a model set by the tax administration. Transfers of shares in real-estate-predominant or transparent real-estate companies (unlisted) are taxed at 5% (reduced from 6% by LF 2026) on the sale price or market value if higher. On-exchange equity trades are otherwise free of transfer duty; the friction cost is brokerage + exchange + Maroclear commissions plus VAT on those commissions.