Morocco Equity Savings Plan (PEA) Simulator — net return projection

The Moroccan Plan d'Épargne en Actions (PEA) is one of the most tax-efficient long-term savings products available in Morocco. It invests in Casablanca Stock Exchange equities with a 15% tax rate before 5 years — and full tax exemption after 5 years. Our simulator shows the impact of this exemption on your net capital over time.

Why the PEA is Morocco's best tax-efficient investment after 5 years

On a 10-year horizon, the PEA's tax exemption can add 10% to 15% to your net capital compared to direct BVC shares or an equity fund. The simulator lets you adjust the duration slider to see exactly when the tax exemption kicks in and how much it saves. Use the comparator to rank all 9 products for your situation.

Who should consider the PEA?

The Moroccan Plan d'Épargne en Actions (PEA) is designed for investors seeking Casablanca Stock Exchange exposure with a significant tax benefit after 5 years. It is particularly relevant for mid-career workers with a long investment horizon who want to build an equity portfolio while reducing their tax liability on capital gains and dividends. Full exemption after 5 years represents a substantial net gain compared with an ordinary securities account taxed at 15%.

How to open a PEA in Morocco?

The PEA is opened through an authorised stockbroker enabled to offer the plan. Contributions are invested in eligible BVC shares or PEA-labelled mutual fund units. Contribution ceilings are set by regulation — ask your broker for the current limit. If you withdraw before 5 years, you lose the tax benefit and the plan is closed. The commitment period is therefore a critical factor: only open a PEA if you are confident you will not need the funds for at least 5 years.

What is the Moroccan Equity Savings Plan (PEA)?
The Moroccan PEA is a tax-advantaged wrapper for Casablanca Stock Exchange equities. Capital gains are taxed at 15% before 5 years and fully exempt after 5 years of holding. Available through licensed brokers to Moroccan residents and qualifying expats.
How does PEA tax exemption work in Morocco?
Under the Finance Act 2026, gains realised within a PEA are taxed at 15% if liquidated before 5 years. After 5 full years, all capital gains are completely exempt from tax — making the PEA one of the most tax-efficient long-term products in Morocco.
What is the maximum contribution to a Moroccan PEA?
The Moroccan PEA currently has no explicit annual contribution ceiling in the Finance Act 2026. Check with your broker for any internal limits they may apply.
PEA vs direct BVC shares: which is better?
Both invest in BVC equities. The difference is tax: direct shares are taxed at 15% on gains/dividends every time. A PEA becomes fully tax-exempt after 5 years — significantly more advantageous for investors with a long horizon. The PEA is clearly superior for 5+ year investments.

Other Morocco savings simulators

Casablanca Stock Exchange Equity Fund (OPCVM) Company Savings Plan (PEE) Housing Savings Plan (PEL) Full comparator

Sources: AMMC — PEA regulation; Casablanca Stock Exchange — MASI performance. Taxation: Finance Act 2026 (General Tax Code). Results are indicative — not financial advice.