Morocco Targets Undeclared Offshore Assets in Foreign Exchange Crackdown

According to information reported by Hespress, a new wave of notices has been sent to businesspeople involved in “hidden” investments abroad. These suspects are accused of holding bonds and stakes in financial funds without declaring them, thereby circumventing the voluntary regularization process that ended in late 2024.

On Bladi.net : Casablanca Under Scrutiny: Capital Flight, Offshore Assets and Tax Investigations

The investigations are focusing on suspicious transfers carried out through offshore companies to evade the vigilance of the General Tax Directorate. The “foreign exchange gendarmerie” is currently assessing the financial situation of these individuals, who are absent from declaration records, in order to uncover possible tax evasion and capital flight operations.

Moroccan inspectors are now relying on international data-exchange channels to identify the owners of these assets. Despite the use of specialized intermediary firms to conceal the transactions, access to precise databases now makes it possible to determine the exact value and location of the suspicious investments.

At the same time, the 2026 foreign exchange instruction circular introduces new facilities for compliant operators. Travel allowances have been raised to one million dirhams for certain companies, while support for e-commerce has been strengthened to encourage legal flows and support the growth of start-ups.

On Bladi.net : Morocco Probes $70 Million in Suspicious Foreign Transfers by Investors

The ongoing investigations are also reviewing old transfer authorizations to verify the actual destination of the funds. The Foreign Exchange Office is demanding rigorous accounting documents regarding the fate of the reallocated amounts, signaling tighter oversight to ensure accountability and strict compliance with foreign exchange rules.