According to the Foreign Exchange Office, 658 individuals participated in the program, declaring assets including real estate, financial assets, and cash holdings. Financial assets accounted for the largest share, representing 45% of the total declared value.
The program, which allows individuals to legalize undeclared assets acquired before January 1, 2024, by paying a settlement fee, generated 231.76 million dirhams in contributions to the public treasury. The settlement fee rate varies from 2% to 10% depending on the nature of the assets.
While successful, the 2024 program yielded lower results compared to previous years. The 2020 program generated approximately 6 billion dirhams, and the 2014 program reached a record high of 28 billion dirhams in declared assets.
The Foreign Exchange Office continues to encourage individuals with undeclared assets to participate in the program, emphasizing the benefits of legalizing their financial holdings. By repatriating assets and paying the applicable fees, individuals can ensure compliance with Moroccan law and contribute to the country’s economic development.
MK/te/Sf/fss/abj/APA