Process of acquiring a property in Morocco
For any purchase of a property by a foreign person, an account in convertible Dirhams must be paid by the purchaser. This process can allow the transfer of the money to complete the transaction and guarantee repatriation in case of any resale of the product and the added value.
Titled and untitled property in Morocco
Some properties in Morocco are not titled.
The Melkia is a status, which is not saved in the Land register and may result additional fees during registration by the solicitor.
The benefits of foreign retirees in Morocco
Generally exists between France and Morocco fiscal arrangements on the non-taxation of the secondary residence. The concept of tax residence is subject to customary residence in Morocco which will determine whether or not the Moroccan tax legislation is out of taxation.
Criteria falling into account are:
Be a resident of Morocco
The presence in the country of economic interests
Length of residence in Morocco to be greater than 6 months and a day continuously or not.
To receive his pension fund, simply submit an application to the CNAV (National Old-Age Insurance Fund), and open an account in convertible Dirhams in Morocco, the only solution to receive foreign currency.
Taxes in Morocco
The General Income Tax Schedule is as follows:
Annual revenueImposed rate
from 1 to 20 000 DhIGR exemption
from 20 001 to 24 000 Dhfrom 13%, with an abatement 2600 Dh
from 24 001 to 36 000 Dhfrom 21%, with an abatement 4520 Dh
from 36 001 to 60 000 Dhfrom 35%, with an abatement 9560 Dh
from 60 001 Dh and more from 44%, with an abatement 14 960 Dh
Taxation and taxes on acquired property
The acquired villa or apartment in Morocco will be subject to taxation. Generally, annual property tax is almost zero in Morocco.
Acquisition rights :
For residential use :
* Registration fee : 2.5%
* Notarial tax : 0.5%
* Land Conservation : 1% + 150 dhs for the certificate of ownership
* Notary fees : 1% with a minimum charge of 2500 dhs + VAT
For commercial use :
* Registration fee : 2.5% for the first sale, otherwise it’s 5% * Notarial tax : 0.5% * Land Conservation : 1% * Notary fees : 1% with a minimum charge of 2500 dhs + VAT
Urban tax :
The habitation, primary or secondary, is subject to the city tax. This tax is based on the rental value of housing. This value is reassessed every five years by an increase of 2%.
Urban tax does not apply to new premises for 5 years from the date of occupancy permits.
MRE receive a rebate of 75% of the rental value.
Tax of municipal administration
The municipal administration fee is 10% of the annual rental value of the property. Knowing that the owner has a 75% discount if it is his main residence.
Rates applicable :
-10% For buildings located within the perimeter of urban communes and delimited centers
6% for properties located in the peripheral areas of urban communes for properties located in the peripheral areas of urban communes.
Why the Notary ?
The notary is a lawyer with a public authority mission who prepares contracts in the authentic form on behalf of his clients and who performs his duties in a liberal framework.
The notary is also a public officer, acting in all areas of law (family, real estate, assets, businesses …) who possesses genuine public authority prerogatives
Through his increased legal knowledge and knowledge of legislative changes, it offers the best legal guarantee at the time of the compromise (prior to the deed of sale). You will not have “bad surprises”
The roles of the notary :
Counseling, Conciliation and Mediation :
Apart from drafting the deeds, the notary may also be your legal adviser on all matters related to private law, real estate law, business law, company law, private international law and also on taxation and wealth management. It is also responsible for informing the parties impartially of the scope of the undertakings they undertake.
In the face of disagreement between the parties, the notary is in the best position to seek intermediate solutions and to resolve the differences amicably.
Real estate agent: role, status, obligations
A real estate agent consists of carrying out acts of interference between two or more parties for the realization of a purchase, sale or lease of real estate, goodwill or company shares relating to a building or a goodwill.
The real estate agent has a duty to advise on the price of the property put up for sale.
The real estate agent is responsible for the mentions that appear in the act that he makes to sign. It verifies that the customer is the owner of the property for sale or that he has the capacity to sell it. It verifies the title of the seller, the surface of the property…..
The exclusive mandate
The mandate is mandatory and must be signed by the principal (buyer, seller, etc.).
The mandate indicates the limits of the mission entrusted to him and the amount of his remuneration.
If the warrant is signed after a door-to-door sale, a reflection period of 15 days must be respected.
The mandate may be simple or exclusive :
The simple mandate allows the mandate to entrust the case to other professionals or to even look for a possible buyer.
In an exclusive mandate, the negotiation is entrusted to a single real estate agent who has the exclusivity. This does not prevent the principal, according to the contracts, from seeking himself a buyer or a seller.
The mandate is limited in time, usually three months.
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