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Discover a Property in Morocco - an Investment Hotspot !
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Frequently asked QuestionsWill my property investment be safe ? As long as you take all normal precautions (as you would if you purchased a property elsewhere), and use a Notaire, then you ahould have no problems. Can I get a mortgage in Morocco ? It is difficult to obtain a mortgage in Morocco. It is advised that you find finance in the UK, or perhaps one of the major French banks. Does Morocco want foreigners to buy property ? Yes. There are many recent incentives that have been initiated by King Mohammed VI specifically to attract overseas investment and tourism. This includes the introduction of an "open skies" policy to attract low-cost flights. Can I take funds out of Morocco ? Yes. A convertible bank account allows you to move foreign currency in or out without problem. Is there any Capital Gains Tax or Gain Immobilier tax ? Yes, but this reduces the longer you keep the property. If the property is sold within five years of purchase, capital gains tax is charged at 20% of profit with a minimum of 3% of the sale price. A property sold between six and ten years from purchase will pay 10% capital gains tax and 0% thereafter. Capital gains tax is based on the sale price minus the purchase price. What legal costs are involved in buying a property? The notaire's fees and registration taxes will cost approx. 5.5% of the purchase price. What are the running costs once I have bought the property ? These are : Insurance (mandatory) - quite low Council Tax - quite low Refuse Collection Tax - very low Morocco is a mainly muslim country - does this pose any problems to foreign women? It should not. Moroccans are extremely friendly and open, and as long as you act respectfully you will be welcomed. The king is very enlightened regarding the status of women in Morocco, and they benefit by much more freedom than in many other muslim countries. Head covering is not mandatory. |
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Information is for guidance only |
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