Morocco is currently one of the world's leading emerging markets for investment in property abroad. Luxury real estate can still be purchased at excellent prices and purchasers enjoy the exotic atmosphere, stunning natural beauty and variety this country provides. With progressive government policies firmly in place, the tourist economy is on the brink of a boom and purchasers of property abroad are acting fast.

Reasons why property in Morocco is a good investment

Property prices are currently very competitive.
With the low cost of living, it is possible to experience a luxury lifestyle at relatively small expense.
The property market in Morocco is currently booming and looks set to continue to do so for a considerable time.
Capital growth is estimated at around 15% - 30%, based on last year´s figures ( Homes Overseas Magazine quotes the growth to be nearer 30%).
Capital gains tax stands at between only 0% and 20%.
Inheritance tax is not charged.
Property tax is not charged during the first 5 years.
Rental occupancy currently reaches around 85% during peak season and it is set to increase as the tourism drive continues.
70% mortgages are currently available to provide additional infrastructure and new roads, marinas, trains, 5 star resorts, shopping malls, beach clubs, thus increasing visitors to the area.
The Open Skies policy allows competition for Moroccano air routes. It will generate competition, increase services and dramatically lower air fares.
Yacht club and mooring fees are under £27/month. These are turning even the most wealthy away from the more traditional ultra expensive Mediterranean resorts.
Beautiful sandy beaches with crystal clear water.
Stunning golf courses, tennis clubs, riding clubs, waterskiing, sailing, scuba diving, hunting, hiking, camel treks, culture attract all types of tourists and investors alike.
The Mediterranean climate bringshot summers and mild winters, permitting
year-round tourism.
French, Spanish and English is widely spoken, as well as traditional Arabic.
The Costa de la Luz is just thirty minutes away by hydrofoil from Tangiers.
Morocco is easily accessed through Tangiers via helicopter, ferry or on regularflights to Casablanca , Agadir or Tangiers.

Step 1: Complete due diligence

It is obligatory to complete due diligence by checking the property certificate file from the Conservation Fonciere.

Step 2: Obtain the tax attestation form from the tax collection authority

One obtains a blank form from the tax collection authority (la Perception) in order to obtain approvals from other tax authorities that all relevant obligations have been paid.

Step 3 Obtain signature from Regional General Tax Authority that all taxes are paid

As of 2007, taxes from several authorities must be cleared before the transfer takes place and it is the responsibility of the notary to assure that the money for the transaction is sufficient to cover any unpaid taxes.

Step 4: Obtain signature from Municipal Tax Authority that all taxes are paid

Step 5: Give completed tax attestation form to Tax Collection Authority for approval

Once signatures are obtained from local authorities, one reverts to the Tax Collection Authority to complete the attestation that all taxes related to the property have been paid.

Step 6: Signatures of the seller and buyer and authentication of contract at the notary

The signatures of the parties in the sales deed are only certified by the public notary if a notarial deed is established. Copies of the document are stamped in each page. The deed can be prepared by the parties, in some cases assisted by their lawyers. At this point the parties will usually pay all fees and taxes to the notary, who will then pay all taxes and fees to the authorities on behalf of the parties. The documentation shall include: - the sales agreement signed by the parties - ID cards of each party; if the parties’ signatures are filed with the local authorities, only a certified copy of their ID cards and the date and number under which the deed was filed will be required.

Step 7: Registration of the deed

The deed reflecting the transfer of ownership is registered within 30 days from the date of the deed. According to Article 4 of the Registration and Stamp Code, as amended by Finance Act n°48-03 for budget year 2004, a sales deed must be registered with the registration office in charge of the area where the property being sold is located. Registration can be applied for either by the notary or by the parties–the Registration Code does not include any specific provision stating who is entitled to apply for registration. The registration duty has been cut to 2.5% in the Loi de Finances pour 2006, ‘Livre d’Assiette et de Recouvrement’: articles 136.1.B.3 and 136.1.A.1. The duly signed and certified sales deed is the only document that must be provided upon registration. In 2008, the notary tax of 0.5% has been combined with the registration fees, causing no change to the cost to complete this Step because registration fees have been raised from 2.5 to 3% of property value.

Step 8: The buyer applies for the inscription of the registered deed on the land registers (Conservation Fonciere)

Listing of the registered sales deed in the land registry is an additional formality, which is separate from registration. The buyer applies for the listing of the registered deed on the land registers. According to Article 65 bis of Royal decree of 5 August 1968 completing the dahir of 1913, such listing must be completed within 18 months from the date the deed was drafted for authentic deeds and as from the date the last signature was certified for private deeds. Parties submit a statement that must include the following: 1. designation with land title number, of building to be listed; 2. nature of right due to be listed; 3. acquisition method and nature and date of deed testifying to it; 4. if applicable, cause of resolution, restriction or right to dispose of or special notice that needs to be listed at the same time as main right, together with details of beneficiary. This statement must be signed by both parties. An original copy of the private deed or a copy of the authentic deed concerned is attached to such application. One receives an official copy of the property registration certificate at the end of this process for MAD 75, which one can sell immediately.