By “In each revolution, we create a brand new way of trading, transacting and storing value — but we don’t get rid of the old ones. So, 5,000 years ago, we invented money; we still have money. Three hundred years ago we invented banks; we’ll still have banks. But in this revolution, the digital revolution, seven billion people on this planet can get access to real-time trade. And that means that there’s a new way of thinking about how we’ll create this Internet of value, and what it’s going to look like longer term.”
Casablanca Finance City, as a Leading Business and Financial Hub in Africa, aims to be an attractive place for both new and existing investors to park their money.
The financial technology in place will offer investors access to low-cost capital markets while at the same time helping the established firms achieve profitability through attracting quality clients with a higher degree of sophistication.
The future of this City lies in its willingness to provide its clients with products and services tailored to suit their specific needs regardless of where they relocate their assets from.
A Multipurpose Casablanca Finance City:
Casablanca Finance City is a multipurpose project offering a variety of investment opportunities. Investors can take advantage of low-cost capital markets while establishing an effective network of business clients.
Thus, the future of this City lies in its willingness to provide its clients with products and services tailored to suit their specific needs regardless of where they relocate their assets from.
The new Finance City aims to be a place where quality services will be delivered at affordable prices. Likewise, it provides investors with low-cost capital markets and quality clients for existing firms.
Also, Casablanca Finance City’s future lies in its ability to secure the needs of its clients who are interested in moving or investing their money in this country.
“We want to make it easy for you to do business in Morocco. We’ve made an attractive place for both new and existing investors to park their money”.
Casablanca Finance City is a perfect place for established financial institutions, firms, and wealthy individuals to pool investment assets.
Also, the City’s leading position in virtual commerce makes it the best place in the world to create and develop internet technology.
The Finance City of the Future looks to build on its tradition of excellence by providing financial solutions that are customized for investors who need low-cost capital and quality clients.
Also, Casablanca Finance City (CFC) is the place for world-class financial services in an open and welcoming environment.
Casablanca Finance City makes it easy for you to source the best deals in your field by providing you with a modern trading platform suited to your needs.
Main Objective of Casablanca Finance City:
The objective of the Casablanca Finance City (CFC) project is to create a unique economic and financial infrastructure.
It will connect investors, businesses, professionals, and residents living in Tulum, along with key government institutions such as the Autonomous System for Economic Development (ASED) and the Federal District Government.
Also, CFC will leverage its unique position as a regional financial hub and international gateway for investment opportunities to encourage sustainable economic growth backed by social responsibility and developed through, in Morocco and Africa as a whole.
While this may herald a shift in attitude, Casablanca Finance City aims to articulate a positive vision for financial services.
The economic climate in Morocco is excellent. The government has aggressively pursued infrastructure development to create jobs and expand economic freedom.
As a result, real estate prices have increased exponentially, creating an attractive environment for investment.
Construction activity is accelerating in both Êzid after rizInspector General Ali Ben Ahmed revealed in June 2010 that Casablanca had surpassed Vienna as the hottest property market in Europe.
Also, Casablanca’s luxury residential properties are attracting great interest from international buyers who are seeking luxury living options within walking distance of the action and transportation in tranquility unmatched by other cities in the region.
Who is Eligible to Enjoy CFC Status?
There are specific kinds of companies that can enjoy the CFC Status. You have to check Act number 44-10 for this purpose. It is basically the amendment of Act No 68-12. Thus, some specific sorts of companies can receive Casablanca Finance City status, including:
- Articles 6 to 8 show the financial institutions that can enjoy this status.
- Also, articles 8b to 9 mention professionals as service providers.
- Article 10 bis Holding companies.
- HQs of multinational companies based in a region (cf. article 10).
CFC Status Tax Incentives:
You, as a business person, will get Morocco’s business and tax benefits for investments in Africa that have different free trade and double tax agreements. But the CFC status enables enterprises to benefit from certain advantages and really favorable tax stability.
- Corporate Income Tax (CIT) incentives
In relation to its professional service providers, export turnover, financial organizations, and holding businesses who have the status of CFC will be exempted from CIT for five financial years starting on the year in which the CFC status was granted. Such businesses will also benefit from an exemption from securities sales from capital gains. After this time, these businesses will be taxed at a lower rate of 8.75 % with respect to their capital and income gains.
The CFC status of regional and worldwide headquarters is taxed at a lower rate of 10%. The evaluation of their taxable foundations in particular.
In fact, if there is a profit, the tax base is equivalent to the larger amount from the revenue tax assessed under ordinary circumstances to 5% of the running costs and expenditures of the Head office.
In the event of a tax loss, however, the taxable base amounts to 5% of operating costs. Nevertheless, regional and worldwide headquarters are subject to the minimum contribution of the CIT.
- Tax incentives for income
Employees of CFC businesses may select between taxation under regular legislation or a flat and final 20% rate for the duration of 5 years from the start of the working connection.
- Incentives for registration responsibilities
Acts concerning the establishment of a business and an increase in the capital are free from registration charges.
Casablanca Finance City Tower:
With its innovative design, the Casablanca Finance City Tower is remarkable. Also, it heralds a new era of economic prosperity and growth for Morocco.
An international call for tender targeted Pritzker prize-winning architects for the design of the tower, and American architect Thom Mayne won the assignment.
Its unique engineering and eco-friendly design make it a completely unique architectural landmark in Casa-Anfa, a growing district located within the upcoming City of Taipei.
At 122 meters, the CFC Tower is a remarkable building that offers a futuristic appearance. It also offers innovative architectural design.
Project info:
- Name: Casablanca Finance City Tower
- Building: 2015 to 2019
- Category: Commercial
- Location: Tour CFC, quartier casa-anfa, hay hassani, Casablanca – Morocco.
- Size: 226,042 Gross SQF / 21,000 gross SQM.
- Height: 398 feet / 121 meters
- Client: Casablanca finance city
- Program: Offices and visitor centers for the Moroccan central bank, Moroccan financial board, and bank al-Maghrib.
- Design Duration: 2013 to 2015.
Frequently Asked Questions of Casablanca Finance City:
Get to know the answers to some of the top queries of this project.
- Where can You Find the Headquarters of CFC?
Allée Des Abricotiers Et Ave Des Tilleuls, Casablanca, Grand Casablanca, Morocco.
- What is the Phone Number of this City?
+212 5228-49000
- What is the Revenue of the City?
Around $5 Million
- What is the SIC code?
SIC Code: 93,931
- What is the NAICS code?
NAICS Code: 92113,9211
- What is the tech stack of CFC?
Modernizr, Font Awesome, Juicer, and WooCommerce
- Who is the CEO of Casablanca Finance City?
Said Ibrahimi
- The City’s website is being visited by people from what companies?
Alsard Fiber.
“We don’t have ‘customers’ anymore; we have people engaged in the community who want to use different services. So the bank has to pivot from developing everything internally to being a curator of apps, APIs, and analytics from marketplaces that give the best overall customer experience. Because I, as a customer, don’t want to go to 200 different startup companies and try and put that together myself — I’d much rather have a trusted brand do that for me.”
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What are the Steps of the CFC Application?
- Letter of intent and Assessment study by Casablanca Finance City Authority.
- License (if applicable).
- Creation of the entity (if applicable).
- Official application.
- Application review within 45 days.
Law of December 2010 created CFC, which was amended by law 68-12 in June 2014, had its final effect by that date.
Casablanca Finance City Authority is charged with managing CFCs and institutionally promoting them according to the law 44-10.
You can get some exclusive advantages if your company gets the financial status. Also, as part of these advantages are tax incentives, exchange control easements, and other business facilitation measures.
Anfa Airport is now home to the aforementioned real estate development compound, which will enable companies with this status to relocate into that complex. Over 100 groups had already booked their own CFC status by the end of 2015.
A member of the Global Financial Centers Index since 2014, Casablanca Finance City was ranked as the first African financial center and the 33rd international economic hub in April 2016. Thus, joining this remarkable project is useful and good choice for your business.
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