As regards loans on real property granted to the foreign non-resident people, there are from now on new inciting measurements. The objective is to encourage them to acquire residences in Morocco.



The real estate opens its doors the foreigners. A recent circular of the Foreign exchange bureau specifies the conditions of granting loans on real property to the foreign non-resident people and announces the installation of guarantees in favour of foreign banks. These appropriations can be granted by the intermediate banks approved under conditions.



'This new circular of the Office gives more flexibility as regards loans on real property for the non-residents. Engagement with a height of 30 % of the customer ensures thus the monthly payments ', explains Amal Aachiq, specialist of loans on real property within Attijariwafa bank.



According to terms of this circular carrying the number 1711, the non-resident beneficiary must carry out a minimum contribution in currencies of 30 % of the price of the real estate to acquire or to build. This contribution can intervene either by transfer of currencies, or by debit of a foreign account in convertible dirhams open in the name of the interested party.



'In certain cases, the customer exceeds this rate of 30 % of the price of the real estate acquired to be up to 50 % by payment at the black. By reaching half of the amount of money, the customer has, in the majority of the cases, the obligation to honour his engagements ', notices another expert on the matter. In its full expansion, the sector of real estate in Morocco attracts more foreigners. In this direction, it should be recalled that one of the principal advantages of the Moroccan taxation, put besides often forward by the property developers, relates to the absence of inheritances tax death. 'Moreover, the non-residents profit from the provisions of the tax conventions, tending to avoid the double taxation, concluded between Morocco and many other countries', a lawyer notes.



The installation of guarantees in favour of foreign banks is an inciting measurement also subjected to conditions. To profit from this facility, the foreign person concerned must produce at the approved intermediate bank, before the emission of the guarantee, a declaration on the honour emphasizing that he is not owner of any residence in Morocco ', was specified in this circular. By authorizing the intermediate banks approved to emit guarantees in favour of the foreign banks granting loans for acquisition of residences in Morocco, the Foreign exchange bureau fixed the rate at 70% of the value of the real estate.



Advantages of the Moroccan taxation, more and more foreigners want to acquire a real estate in the Kingdom; in particular in Marrakech and in the balneal cities, benefiting thus from the advantages of the Moroccan taxation. And they are rather the pensioners who prefer to invest more in the real estate. 'The people profiting from a retirement pension of foreign source profit from the reduction of 80 % of the amount of the tax due to the pension of retirement', explains a lawyer specialized in the real estate. This reduction is subjected to only one condition: 'to transfer on a purely final basis this pension on an account of nonconvertible dirhams in Morocco, knowing that it is possible to transfer only the part necessary for living. The imposition can thus be very weak, about 5 to 15 % '.