On 31 December 2025, the Office des Changes published the 2026 General Instruction on Foreign Exchange Operations, applicable from 1 January. The text replaces the 2024 edition and reorganises several regimes concerning individuals, investors and companies.
Main themes
The 2026 IGOC raises the overall cap on the personal travel allowance, increases the authorised living costs for students and broadens the e-commerce allowance. It also uprates business travel and introduces new facilities for start-ups labelled by the Digital Development Agency.
For Moroccans living abroad, the instruction eases dirham bank financing of certain property acquisitions in Morocco. It also provides adjustments for foreign individuals who have long been resident in the Kingdom and for investments abroad.
Practical reading
An authorised cap does not remove the need to produce the documents requested by the bank or the approved intermediary. Eligibility, the purpose of the transfer, the identity of the beneficiary and the domiciliation documents remain decisive.
Entitlements are annual and attached to specific categories: personal travel, studies, medical care, electronic commerce or business travel. An expense cannot be freely charged to an allowance that serves a different purpose. Before a significant transfer, it is advisable to consult the relevant article of the 2026 IGOC and the bank's own procedure.
Sources
- Office des Changes — Publication of the 2026 General Instruction on Foreign Exchange Operations, 2025-12-31.
- Médias24 — Foreign exchange operations: what the new regulation brings, 2026-01-05.
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This publication is provided for information purposes only and does not constitute personalised tax or legal advice.