Real Estate Agency in Marrakech

Repatriation Guarantee in Morocco: The Complete Guide to Securing Your Real Estate Investment Investing in Morocco can be a strong opportunity, if you also secure your exit. The repatriation guarantee in Morocco is the framework that allows you to transfer back abroad (in foreign currency) your initial capital, income, and capital gain without getting blocked. And the key is not an accounting spreadsheet: it’s a banking + legal alignment (“reconciliation”) built from the very first incoming transfer. citeturn0search0 Key sentence to embed in your strategy: In Morocco, you don’t prepare your repatriation at the time of resale, you prepare it from the very first purchase transfer. That is exactly what a solid repatriation guarantee in Morocco is designed to protect. What Is the Repatriation Guarantee in Morocco? Legal definition & the role of the Office des Changes (convertibility) The repatriation guarantee in Morocco is rooted in Morocco’s convertibility framework overseen by the Office des Changes. When an investment is funded in foreign currency under the applicable rules, the investor benefits from the ability to transfer income and the proceeds of sale/liquidation (oc.gov.ma) Why it is critical for foreign investors and MREs Without a proper repatriation guarantee in Morocco, you can end up with funds trapped in local dirhams. With a compliant repatriation guarantee in Morocco, you protect: your initial capital  the repatriation of capital gains, the transfer of investment-related income  “Accounting bank reconciliation” vs “investment bank alignment” Most competitors treat “bank reconciliation” as pure bookkeeping  For an investor, “reconciliation” means linking, cleanly and provably: the foreign-currency inflow (SWIFT proof / exchange slip), the right type of account (convertible dirhams), the notarial deed and land title (ANCFCC / Land Registry), so your repatriation guarantee in Morocco remains enforceable at resale.  The “Reconciliation” Process: 3 Steps That Validate Your Repatriation Step 1 — Open a Convertible Dirham Account This is the operational foundation of a repatriation guarantee in Morocco: Moroccan banks can open foreign-currency and/or convertible dirham accounts for eligible profiles (including MREs and non-residents depending on status).  Why a standard local account can be a fatal mistake: if funds arrive into a regular dirham account, you may lose the “convertible” traceability needed to support the repatriation guarantee in Morocco during the outgoing international transfer. Step 2 — Ensure end-to-end traceability (SWIFT MT103 + exchange documents) Your repatriation guarantee in Morocco file must demonstrate the origin and route of funds: SWIFT MT103 (international transfer proof), exchange slip / currency conversion proof, deposit slips, transfer references, and matching dates/amounts. This documentation chain is what proves the investment was financed in foreign currency in line with the Office des Changes requirements.  Step 3 — Form 2 and the Investment Attestation (the “seal”) The Office des Changes requires investment reporting / supporting documents and mentions Forms (2, 3, or 4) and/or bank attestations evidencing eligible funding in foreign currency/convertible dirhams.  In practice, a strong repatriation guarantee in Morocco is: banking proofs + notarial documents + traceability + consistent file architecture. Why Investors Lose Their Right to Repatriation (Common Traps) Cash payments / “under the table” Even if the property transaction goes through, missing banking evidence can destroy the repatriation guarantee in Morocco: no provable inflow, no provable outflow. Using a standard local bank account One of the most common causes of “blocked” situations: funds are no longer clearly documented as convertible, which weakens the repatriation guarantee in Morocco at resale. Lack of coordination between Notary and Bank (the essential triptych) The Agent (or advisor) – Banker – Notary triptych is essential: the Office des Changes framework sets the rules, banks must produce compliant attestations, and the notary controls the deed, escrow mechanics, and registration paperwork.  Without alignment, your repatriation guarantee in Morocco file becomes incomplete. Tax & Capital Gains: How to Repatriate Your Profits Capital gains tax (TPI): practical benchmark In general communications, the real-estate capital gain tax (TPI) is often presented as 20%, with a minimum contribution of 3% of the sale price, depending on the case.  Your repatriation guarantee in Morocco does not bypass tax, banks typically require proof your tax position is settled. Tax clearance (“quitus fiscal”): the final gate before the transfer Before any international outbound transfer, expect to provide (depending on your situation): deed of sale, tax proofs, banking proofs, and supporting documentation. The Office des Changes indicates that, for certain cases, banks require evidence that taxes and duties related to the transaction have been paid.  If you do not have a repatriation guarantee in Morocco If the investment does not benefit from the convertibility regime, proceeds may be placed into a convertible term account, transferable in four tranches of 25%.  That is exactly what a properly built repatriation guarantee in Morocco helps you avoid. Automation vs Expert Support: What Actually Secures Your File? Why standard accounting software is not enough Tools can categorize transactions, but they do not create a repatriation guarantee in Morocco. What matters are proofs (SWIFT, exchange slips), forms/attestations, and the structure convertible account + deed alignment.  Pre-sale “exit audit” Before signing any sale agreement, run an exit-focused audit: foreign-currency inflow traceability, correct bank account status (convertible dirhams), deed ↔ transfers consistency, bank/Office des Changes completeness. The role of an investor-focused real estate agency A transactional agency sells property. An investor-focused team secures the repatriation guarantee in Morocco from day one by orchestrating the triptych and protecting future liquidity. FAQ (Google Snippets Style) Can I repatriate money from an inheritance in Morocco? Possibly, but rules and supporting documents differ from direct investment. The convertibility framework can apply to certain cases, subject to conditions and evidence.  How long does repatriation take? It varies (bank, completeness of file, tax clearances). A well-prepared repatriation guarantee in Morocco typically reduces delays. What are the bank fees for an outgoing international transfer? Often SHA/OUR/BEN fees plus FX spread. Ask your bank for a quote before selling. Is the repatriation guarantee in Morocco unlimited in time? The principle is to protect investments funded under the rules; keep your file and proofs for the long term.   

Real-Estate Matching in Morocco: mastering the Off-Market and securing your rapatriement de fonds Maroc Buying property in Morocco – in Marrakech, Casablanca, Tangier, Rabat or Agadir – is a unique opportunity. But for a foreign investor or MRE (Moroccan residing abroad), the same two questions always come up: How do I access the best deals, often invisible on public portals? How do I secure, from today, my future rapatriement de fonds Maroc (capital + capital gain)? Most buyers focus only on the purchase price. In reality, true security lies in two things: your ability to enter at the right place, at the right time, via the Off-Market, your ability to exit cleanly, through a banking and legal matching process that guarantees the full repatriation of your foreign currency. In this article, you’ll discover: what real-estate market matching is, how buyer–seller matching works inside an agency, why the best deals disappear in under 48 hours, and how to structure your purchase to secure your rapatriement de fonds Maroc at 100%. 1. Market Matching: accessing the invisible (the “Off-Market”) Public portals (Avito, Mubawab, etc.) only show the visible part of the market. A large share of attractive transactions close before they are ever listed online. Why? Because serious agencies work first with: their exclusive mandates, their database of qualified buyers, and an internal matching system between these two worlds. For an investor who already thinks about their future rapatriement de fonds Maroc, missing this hidden channel often means missing the best margins – and therefore part of the potential capital gain. 1.1. Buyer–seller matching inside the agency Internally, a structured real-estate agency works like a private search engine: On the seller’s side:   The owner signs an exclusive mandate. The property is analysed: title deed, status at the ANCFCC (Land Registry), compliance, charges, rental potential, etc. The price is positioned according to the real market, not just online ads. On the buyer’s side:   The agency maintains a buyer database: profile, budget, type of property, use (primary residence, secondary home, rental investment), resale horizon, sensitivity to the future rapatriement de fonds Maroc. Some buyers are already “ready to buy”: bank file validated, convertible dirham account opened, notary identified. The matching:   As soon as a property comes in under exclusivity, the agent does not necessarily publish it online. They first run a matching with their existing buyer profiles. They contact as a priority those whose project is most aligned (especially those with a clear resale and rapatriement de fonds Maroc strategy). Result: the best-priced properties in prime locations are often reserved or sold before any public listing, only the remaining or overpriced properties finally appear on portals. For a foreign investor, relying only on public listings means accessing just the tip of the iceberg. 1.2. The advantage of speed: why the best deals last only 48 hours In dynamic markets (Marrakech, Casablanca, parts of Tangier or Rabat), a fairly priced property will not stay available for long: often less than 48 hours between off-market presentation and agreement in principle, sometimes just a few hours when it’s a rare product (prime location, highly sought-after residence, strong rental yield). Those who manage to position themselves quickly have a few things in common: a bank file already prepared (funds available, international transfer circuit validated, convertible dirham account operational), a notary identified, used to dealing with foreign investors and rapatriement de fonds Maroc, an agency or trusted contact who alerts them first about opportunities that match their strategy. In other words: The more “ready to buy” you are (financially and administratively), the higher you are placed on the agency’s internal list when they run market matching. And this is precisely what will drive, later on, the quality of your capital gain… and therefore the quality of your rapatriement de fonds Maroc. 2. Banking Matching: the key to repatriating your funds Accessing a good deal is not enough. For a foreign investor or MRE, the second crucial pillar is banking matching: the ability to clearly connect, in the eyes of the bank and the Office des Changes (Moroccan foreign exchange authority): your foreign currency inflow into Morocco, your property purchase, and, on the day of resale, your rapatriement de fonds Maroc. 2.1. The guarantee of repatriation: what it is and why it matters The guarantee of repatriation is what allows you, upon resale: to repatriate 100% of the capital invested, and any real-estate capital gain, in the foreign currency of your choice (most often euros). This guarantee is granted if: you invested through official banking channels, your foreign currency was correctly converted into dirhams, the bank and the notary built a solid file (Form 2, certificates, etc.). If not: your right to rapatriement de fonds Maroc can be limited, you may be subject to ceilings (for example, 25% per year over 4 years), part of your capital or your capital gain may remain “stuck” in the country. It’s not a small technical detail. It’s a fundamental condition for your financial freedom. 2.2. The Convertible Dirham Account: your strategic tool To secure your rapatriement de fonds Maroc, the convertible dirham account (or non-resident account) is the key banking tool. It allows you to: receive your foreign currency transfers (euros, dollars, etc.) from abroad, clearly trace the origin of funds (documented by a SWIFT MT103 and a foreign-exchange slip), prove to the Office des Changes that the investment actually comes from outside Morocco. This account: confirms your status as a foreign investor, simplifies the preparation of Form 2 and the investment certificate, makes your future rapatriement de fonds Maroc much easier when you resell. 2.3. Form 2 and the Office des Changes Form 2 is the central document that formalises the matching between: your initial international transfer, the foreign-exchange operation (conversion from foreign currency to dirhams), and the property acquired (land title registered with the ANCFCC). It’s prepared by the bank on the basis of: your SWIFT MT103, your foreign-exchange slip, the purchase documents (notarial deed, land title, etc.). At the time of resale, this Form 2 will be used to: prove that foreign capital was indeed invested in that property, justify to the Office des Changes your right to rapatriement de fonds Maroc, demand the effective repatriation of the total amount (capital + capital gain) in the original currency. Without this properly constructed banking matching process, your exit strategy becomes far more uncertain. 3. The Transfer Protocol: flawless traceability A solid transfer protocol is a clear operating manual that aligns: the sending bank (in your country of residence), the Moroccan bank (convertible dirham account), the notary (escrow / client account), the Land Registry (ANCFCC), and ultimately, your future rapatriement de fonds Maroc. 3.1. The SWIFT MT103: proof of your transfer The SWIFT MT103 is the standard document that proves your international transfer. It includes: the sender’s identity, the beneficiary’s identity, the amount, currency, date, the wording of the transfer (ideally: “real-estate purchase Morocco – [city]”). This document will be requested by: the Moroccan bank, the notary, and sometimes the authorities, under AML/CFT rules (anti–money laundering / counter-terrorism financing). It is a key piece to: build your Form 2 file, justify the origin of funds, prepare the proof needed for your future rapatriement de fonds Maroc. 3.2. OUR vs SHA fees: avoid blocking the transaction When you send an international transfer, you choose how fees are split: SHA (Shared): fees are shared between you and the beneficiary. OUR: you, as the sender, pay all the fees. For a property purchase, it’s strongly recommended to choose OUR: with SHA, the notary can receive an amount reduced by bank charges, the amount received might then be less than the sale price shown in the contract, the bank or notary may refuse to consider the payment valid as-is. With OUR: the notary receives the exact agreed amount, the payment circuit is clearer, traceability – crucial for your rapatriement de fonds Maroc – is optimised. 3.3. The role of the notary and the escrow account The notary is the central pillar of legal and financial matching: they receive funds on their client / escrow account, they check funds have been received and verify their origin, they check the legal status of the property (land title, easements, mortgages, possible pre-emption rights), they draw up the deed of sale, which will be registered with the ANCFCC (Land Registry). At the same time, the notary works: with the bank to ensure the structure complies with Office des Changes rules, with the tax administration regarding the real-estate capital gains tax (TPI), with you to prepare the documents that will later be used for your rapatriement de fonds Maroc. 4. The Risks of “Direct Owner” Deals (without an agency or intermediary) Buying “direct from owner” and skipping the agency may sound attractive to save commission. But for a foreign investor, it often opens the door to: legal mistakes, poorly structured banking setups, and ultimately, a compromised rapatriement de fonds Maroc. 4.1. No technical filter Without a serious agency or professional advisor: you may end up visiting untitled properties (Melkia) without realising it, you may be looking at agricultural land without AVNA (authorisation for non-agricultural use), or properties with hidden easements, disputes, or charges. These issues directly impact: how easily you can resell, how your capital gain is calculated, your ability to obtain the documents required for your rapatriement de fonds Maroc. 4.2. “Cash under the table”: the biggest risk The second major trap is making payments in cash “off the record” (“under the table”) to cut fees or taxes. Consequences: the real price you pay is not fully reflected in the deed of sale, your investment certificate and Form 2 only cover the official amount, upon resale, the Office des Changes will never recognise the money you paid outside the banking circuit. In other words: Every dirham paid outside the official banking circuit is a dirham you will not be able to legally include in your rapatriement de fonds Maroc. It’s the fastest way to put part of your capital and your capital gain at risk. 5. The Winning Trio: Agent – Banker – Notary To secure your project and your rapatriement de fonds Maroc, you need a coherent trio: A structured real-estate agent   gives you access to the Off-Market through their internal matching system, screens properties (clear title deed, price aligned with the market), places you as a priority on the best opportunities, helps maximise your future capital gain. A banker experienced with foreign clients   opens your convertible dirham / non-resident account, sets up your international transfers (SWIFT MT103, OUR fee option), prepares the files for the Office des Changes (Form 2, investment certificate), secures, from day one, your future rapatriement de fonds Maroc. A notary experienced with non-residents   secures the legal side (land title, ANCFCC, easements, mortgages), checks the money flows and ensures compliance, anticipates taxation (capital gains tax, tax clearance), supports you in the resale process and in the repatriation of your funds abroad. This agent–banker–notary matching is what makes the difference between: a blind purchase that exposes you to future blockages, and an operation designed from the start for a smooth, legal and full rapatriement de fonds Maroc. Conclusion  Mastering the Off-Market and securing your rapatriement de fonds Maroc is not about luck; it’s about method: accessing the right deals via market matching, structuring your money flows with a clear banking protocol, surrounding yourself with an agent, a banker and a notary who speak the same language. If you’re preparing a purchase or a resale in Morocco and you want to: verify your real repatriation capacity, avoid irreversible mistakes (cash payments, missing Form 2, wrong account structure), and gain privileged access to a pool of Off-Market properties, then your first step is to have your situation properly audited (profile, country of residence, type of project) and to put in writing your rapatriement de fonds Maroc strategy.  

Housing Tax (TH) and Municipal Services Tax (TSC) in Morocco: The Complete 2025 Guide Local taxation is not just paperwork: it directly affects how safely you own, rent out, sell, or pass on your property. Since June 2025, a major reform has changed the landscape: the Moroccan Tax Administration (DGI) now manages Housing Tax (TH) and Municipal Services Tax (TSC) instead of the local authorities and the Treasury (TGR). Good news: the way taxes are calculated and the main exemptions remain the same. This guide “translates” tax jargon into practical advice so you can understand the calculation, pay less legally, and avoid penalties or blocked sales. 1. 2025 Reform: Why Does the DGI Now Manage TH and TSC? What changes for you Before 2025, you often had to deal with: The commune (local authority), The Treasury (TGR), And sometimes the DGI. With the 2025 reform (law n°14‑25 amending law 47‑06 on local taxation): You now have one main contact: the DGI for TH and TSC (assessment, tax bills, recovery, claims). Procedures are being centralised and digitised: online accounts, electronic tax bills, online payment. The TGR still appears for certain payment channels and for the tax clearance certificate needed at the notary, but in coordination with the DGI. In practice: for any question on Housing Tax or TSC, your reflex should now be “ask the DGI / check the DGI portal”. Purpose of law n°14‑25 Modernisation and digitalisation of local tax collection. Better recovery of local taxes to finance communes and regions. Unified management of real estate–related taxes: professional tax, housing tax, TSC, rental income, capital gains, etc. 2. Who Is Liable for TH and TSC in Morocco? Taxable properties You are within the scope of TH and TSC if you own: Constructed buildings (houses, apartments, villas, mixed‑use property), Any type of construction (extensions, annexes), Dependencies: gardens, pools, garages or parking spaces attached to the main building. Who is the taxpayer? The tax is established in the name of: The owner or usufruct holder first, Failing that, the possessor or occupant. Legally, the owner remains the main person liable, even if the property is rented out. Professional equipment The TSC also applies, for professional premises, to: Equipment, tools and production means that are already subject to professional tax. For a workshop, shop or industrial unit, the TSC is therefore calculated on the rental value of the premises + taxable equipment. 3. TSC: Geographical Scope The Municipal Services Tax finances roads, lighting, street cleaning and other local services. It applies to taxable properties located: Within urban perimeters of urban communes, In peripheral zones defined by planning rules, In delimited centres of rural communes, In summer, winter and thermal resorts, And, since recent reforms, in certain areas covered by an urban development plan, even if they look like “outskirts”. Practical reflex: if your property is in a built‑up or planned urban area, assume that TSC applies, unless a specific exemption exists. 4. How Are These Taxes Calculated? The key concept: Rental Value (Valeur Locative – VL) The rental value is the annual theoretical rent your property could generate. It is determined by the administration based on: Local market rents for similar properties, The characteristics of your property (location, surface, condition, use), Periodic automatic revaluations. All calculations (TH and TSC) start from this rental value, then apply abatements and tax rates. TSC rates On the rental value (after abatements), the TSC rate is: 10.50% in urban areas, delimited centres and tourist resorts, 6.50% in peripheral areas or zones covered by a planning document but outside core urban perimeters. Who receives the money? The TSC revenue is shared as follows: 95% for the commune, 5% for the region. 5. Exemptions and Abatements: Paying Less Legally Main residence & MREs: 75% abatement For both Housing Tax and TSC: You benefit from a 75% abatement on the rental value if: The property is your main residence (you, your spouse, or direct ascendants/descendants), or It is the main residence in Morocco of a Moroccan residing abroad (MRE), occupied by you or close family. This abatement drastically reduces the taxable base. 5‑year exemption for new constructions (TH only) For new constructions used as a main residence: You get a 5‑year full exemption from Housing Tax, starting from the year after completion, On condition that you file the completion declaration within the legal deadline. Important: this does not exempt you from TSC, which remains due (but with the 75% abatement if it is your main residence). Non‑recoverable small amounts (200 MAD threshold) If the total of local taxes due (TH + TSC) for a year is less than 200 MAD, the administration usually does not pursue recovery. In practice, no effective payment is required below this threshold. Permanent full exemptions Typically exempt from TH and TSC: State‑owned buildings, Premises of political parties and trade unions, Certain foundations and cooperatives, subject to strict conditions (activity, turnover, public interest). 6. Owner vs Tenant: Who Pays What? Legal rule The legal taxpayer is the owner or usufruct holder, even if: The property is leased, The tenant actually reimburses the tax under the lease. The DGI will always turn to the owner first. In practice: what the lease should say Many commercial and residential leases include a clause stating that: The TSC, and sometimes the TH, are “recoverable charges” to be reimbursed by the tenant. Advice: Always include a clear clause on TH/TSC in the lease, Specify who pays, and how the owner proves payment (tax notice, proof of payment). In case of dispute, the court will look at the lease, but tax administration will still chase the owner if taxes remain unpaid. 7. Practical Guide: Payment, Deadlines and Penalties Tax calendar Tax notices (avis d’imposition) are generally issued around March/April. The deadline for payment is 31 May each year for TH and TSC. Where and how to pay (2025+) You can usually pay: Online via the DGI portal (and, during transition, via TGR online services), (tgr.gov.ma) At partner banks (branches, ATMs, e‑banking, mobile banking), At tax offices / Treasury offices, depending on what is indicated on your tax notice. Late payment penalties After 31 May: 10% flat penalty, 5% surcharge for the first month of delay, Then 0.5% per additional month or fraction thereof. In case of proven bad faith (fraud, concealment), higher penalties and forced recovery measures can apply. 8. Your Reporting Obligations: Don’t Get Caught Out You must file a declaration (often called “completion / change declaration”) in particular when: A new construction is completed, You make extensions or major renovations, There is a change in ownership (sale, gift, inheritance distribution), There is a change in use (from residential to professional, or the opposite). This must be done within the legal deadline (commonly by 31 January of the year following the event). If you fail to declare: You risk losing the 5‑year exemption on Housing Tax, Your rental value may be set too high or corrected retroactively. Tax clearance (Quitus fiscal): the “lock” on your sale Before signing a deed of sale with a notary or adoul, you must provide a tax clearance certificate proving that: All taxes affecting the property (including TH and TSC) are fully paid. If there are arrears or an ongoing dispute: The notary will block the transaction until the situation is settled. Practically: start checking your TH and TSC situation several weeks or months before you plan to sell. Main Residence vs Secondary Residence (TH/TSC)   Main residence Secondary / vacant property Rental value (VL) Same assessment method Same Abatement –75% (TH + TSC) None 5‑year exemption (TH) Yes, for new main residence (subject to declaration) None TSC Due, but reduced by 75% abatement Due at full rate Impact on capital gains Helps prove main residence (useful for TPI / capital gains relief) Usually less favourable tax treatment FAQ 2025 1. Am I exempt from Housing Tax if I do not live in the property (vacant dwelling)? No. Vacancy alone does not grant an exemption. Only main residence status (you or close family living there) or specific legal exemptions can reduce or remove TH. 2. How can I challenge a rental value that is too high? You can file a reasoned claim with the DGI (online or in writing) within the legal deadline, attaching evidence: market rents for similar properties, photos, technical reports, etc. The administration may review the rental value. 3. Is TSC due on bare land? TSC mainly targets built property and certain professional equipment. Urban bare land is usually taxed under a different tax: the Tax on Urban Undeveloped Land (TNB), with its own rules and rates. 4. Can I pay my Housing Tax by bank transfer / online? Yes. Payment is generally possible through online platforms (DGI/TGR), partner banks, and physical counters indicated on your tax notice.