Morocco Opens Agricultural Land to Foreign Investors, Sparking Spanish Interest

Pending the publication of the implementing regulations to facilitate the implementation of the measure, foreign investors in the agricultural sector in Morocco can already rejoice. Active in the kingdom for several years, they could not expand their activities due to the impossibility of acquiring and exploiting agricultural land in their own name or in the name of their companies. Today, Moroccan legislation has evolved with the adoption of this new text.

Despite this ban on foreigners, many Spanish companies in the agricultural sector have made significant investments in Morocco due to its rich and fertile soil, which promotes the rapid production of certain fruits and vegetables such as citrus fruits, tomatoes, beans or strawberries. After Brexit and following the trade agreements concluded between Morocco and the United Kingdom, Moroccan agricultural exports to that country increased by 51% in January 2021 compared to the same month of the previous year.

With the entry into force of this law, a significant increase in foreign investment in the agricultural sector is to be expected. The new law allows Moroccan public limited companies and limited partnerships to acquire agricultural land without any limitation, even if the entire share capital belongs to foreign shareholders.

The implementing texts of the law will be published in the coming months. Foreign investors are already taking this time to proceed with the transformation of their Moroccan subsidiaries into public limited companies or joint-stock companies, in order to fully benefit from this opportunity.