Casablanca – Morocco is entering 2026 with a significant adjustment to its foreign exchange framework, as new spending ceilings for individuals and businesses officially come into force. Introduced under the 2026 edition of the General Instruction on Foreign Exchange Operations (IGOC), the measures are part of a broader reform led by the Office of Foreign Exchange aimed at adapting regulation to evolving economic and social practices.
The revised framework responds to several long-term trends, including the rise of cross-border digital consumption, increased international mobility, growing numbers of students studying abroad, and the international expansion of Moroccan start-ups. By raising authorized foreign currency allowances, authorities seek to offer greater flexibility while maintaining a structured and monitored system for capital flows.
Higher limits for online purchases
One of the most visible changes concerns online shopping. As of January 1, 2026, the annual allowance for international e-commerce purchases by individuals has increased to approximately $2,065, up from about $1,550 previously. The measure applies to Moroccan residents as well as Moroccans living abroad.
The adjustment reflects the growing reliance on global digital platforms for services, subscriptions, software, and consumer goods. It is also intended to reduce friction for individuals who regularly make payments to foreign merchants, while keeping transactions within a clearly defined regulatory framework.
Expanded flexibility for personal travel abroad
Spending limits related to foreign travel have been substantially revised. The new annual global ceiling for personal travel expenses now stands at approximately $51,547 per person.
This amount is structured around two components. A basic annual allowance of around $10,310 is granted automatically. In addition, an extra allocation of up to $41,238 may be authorized, depending on the individual’s tax contribution. The supplementary amount is calculated as 30% of the income tax paid during the previous year, introducing a progressive mechanism that links higher spending capacity to formal tax participation.
The revised structure is intended to better reflect the rising costs of international travel, accommodation, healthcare, and related services, particularly in regions where inflation and living expenses have increased sharply in recent years.
Improved support for students studying overseas
Students pursuing education abroad are also among the main beneficiaries of the new framework. The monthly ceiling for overseas living expenses has been raised from approximately $1,237 to $1,546.
This increase is designed to better align authorized transfers with actual living costs in major study destinations, particularly in Europe and North America. For many families, the previous limits were increasingly disconnected from the realities of housing, transportation, and daily expenses faced by students abroad. The higher ceiling is expected to ease financial pressure and reduce the need for exceptional authorization requests.
A clearer and more structured regulatory framework
Beyond the numerical increases, the 2026 IGOC represents a broader effort to improve the clarity and accessibility of Morocco’s foreign exchange regulations. The new version reorganizes provisions according to user profiles—such as individuals, businesses, Moroccans living abroad, and foreign residents—as well as by type of operation.
According to the Office of Foreign Exchange, the reform was developed through consultations with professional associations and institutional stakeholders. The objective is to simplify interpretation and application of the rules, reducing uncertainty for users while maintaining regulatory oversight.
New opportunities for start-ups and businesses
The revised framework also introduces measures targeting companies, particularly technology-focused start-ups. Businesses certified by the Digital Development Agency are now allowed to invest up to approximately $1,030,900 abroad per year.
Notably, this authorization is granted without requirements related to company age or prior certification of accounts, a move intended to support innovation and facilitate faster international expansion. In parallel, the ceiling for online purchases by these start-ups has been raised to around $206,190 annually, enabling easier access to foreign digital services, cloud infrastructure, and specialized tools.
These adjustments signal a more supportive environment for Moroccan companies seeking to integrate into global value chains and develop international partnerships.
Expanded rights for foreign residents and Moroccans abroad
Additional changes concern foreign nationals residing in Morocco, who will now benefit from the same foreign exchange regimes as Moroccan citizens for certain expenses related to travel and medical care. This alignment is expected to improve administrative consistency and enhance Morocco’s attractiveness as a destination for foreign professionals and long-term residents.
At the same time, Moroccans living abroad will benefit from more flexible access to mortgage loans denominated in local currency. Under the revised rules, housing loans can now cover up to 80% of the value of property purchased in Morocco, a measure aimed at encouraging investment by the Moroccan diaspora in the domestic real estate market.
Gradual openness within a controlled system
The 2026 reforms reflect a gradual and measured opening of Morocco’s foreign exchange system. By updating spending ceilings and restructuring regulatory provisions, authorities aim to bring the framework closer to current economic realities without compromising financial stability.
As the new rules take effect, their impact will be closely monitored, particularly in terms of foreign currency outflows and their interaction with broader macroeconomic conditions. For households, students, and businesses alike, the changes mark a notable shift toward greater flexibility—within a system that continues to prioritize oversight and predictability.
