1.07.2022 | Bh Adviser | Morocco
An Investor’s Guide To Morocco Business Real Estate For Foreigners
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Morocco is now one of the best countries in the world for real estate investment. The country is rich in history and culture and offers many investment opportunities both financially and culturally. More recently, Morocco has seen a boom in tourism and the rise of a business community, attracting many investments.
Real estate is also growing in popularity in Morocco due to the high demand for quality properties. This guide will help you find ways to buy property in Morocco.
The article talks about how it’s important to take some steps to buy real estate in Morocco before you move there, whether you are living abroad or just visiting for short trips.
The question of taxation: an important point for a real estate purchase in Morocco for a non-resident
yes, you buy real estate in morocco if you are a non-resident, The Moroccan government has created a National Real Estate Regulatory Commission that ensures equal treatment of foreign and local buyers.
Investing in Morocco allows you to enjoy a pied-à-Terre for your vacations, but also additional income from the rental of the villa, apartment or riad purchased. But you must also consider the aftermath. If you wish to resell the property and repatriate the money to your country, some precautions must be taken at the time of purchase.
The guarantee of retransfer
To be able to transfer abroad the money from the resale of a Moroccan property, you must meet certain conditions. The retransfer guarantee is only valid for investments made in foreign currency and registered with the Office des Changes. This means that the buyer must have paid for the property with foreign currency through an account convertible into dirhams. If this is not the case, a non-resident will have to spread the repatriation of funds over 4 years (25% per year).
Taxation of real estate capital gains
The tax on real estate profit (TPI) applies to Moroccans, foreign residents and non-residents alike. It is a tax that applies to the capital gain realized when the property is resold. The tax rate is 20% (30% under certain conditions).
MREs can benefit from an exemption from this tax if the property sold is either their main residence or that of a member of their family whom they are accommodating free of charge.
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