How to buy property
Buying in Morocco is as easy as buying in France or Spain Identify your property -- with valid deeds which can be verified by a lawyer or the local notary, who is government appointed and the most important figure in all property negotiations.
Pay a deposit with a binding contract to secure the property. Terms and conditions can include Amount of Deposit, Price of Purchase, Date of Completion, Fixtures and Fittings.
Off-Plan purchase contracts vary but usually involve a reservation deposit, 40% down payment on signature of contract and sometimes incremental payments before final payment on completion.
Open a non-resident bank account (much simpler than in the UK) When you transfer the monies to purchase your property using a currency company makes real savings. (hot spot)
The Notary completes foreign currency forms so that you may repatriate your money when and if you decide to sell. Capital Gains are currently 20% of profit during the first 5 years, 10% of profit during 5-10 years, 0% after 10 years.
Completion takes place at the Notary (allow 5% of the purchase price to pay government taxes, notary fees etc.) and you pay your money, sign the deeds and receive the keys to your new Moroccan residence.
