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Finding a real estate in Morocco
A foreigner wishing to find a real estate in Morocco will first have to open an account in DIRHAMS CONVERTIBLE INTO CURRENCIES with a Morrocan bank.
This will allow the transfer of the money necessary for the purchase since the country of the future buyers towards Morocco, and will facilitate the rapatriment in case of possible resale of the product on sale and the capital gain.
ACQUISITION COSTS OF A REAL ESTATE IN MOROCCO
The rights and the taxes due to the acquisition of the real estate are owed by the buyer. These rights vary according to the type of property (built on ground, bare ground to build on, building…)
Rights for accommodations to be used as house and grounds not built with commitment of building :
The following figures only concern the houses and apartments that are to be used for living in for a superior duration of 3 years, or the grounds that have not been built on that have a building permit of 7 years.
( % to apply to the value of the acquired property, included VAT)
- Registration fee : 2,5 %
- land preservation: 1%+150dhs (certificate of property)
- Notarial tax: 0,5 %
- Notary’s fees: 1 %, with minimum perception of 2500dhs VAT in 7 %
- Update of the constructions in the land preservation (if necessary) : 0,5 % + 75dhs
- Sundry expenses (stamps…) : approximately 1500 to 3000dhs, according to the file.
- Rights of publication + basic right + duplicate: 600dhs
-Surface area rights : 45 dhs per commenced are (urban area), per commenced hectare (rural area)
- Surveyer : approximately 3000 dhs
- other fees (stamps…) : approximately 1500 dhs
Rights for premises that are for commercial use and grounds not built on without an agreement to build:
- Registration fees: 2,5 %
- notarial tax: 0,5 %
- Land conservation: 1 %
Notary:
Fees of notaries: 1 %, with perception minimum of 2500dhs T.V.A in 7 %
- Other fees (stamps…): 2000dhs approximately.
ATTENTION: A FOREIGNER CAN NOT ACQUIRE A GROUND FOR AGRICULTURAL USE.
TAX SYSTEM AND TAXES ON AN ACQUIRED REAL ESTATE
As well as the property possessed by an owner will be subjected to a system of taxes, generally annual (for example land tax and property tax in France), the house or the apartment acquired in Morocco will be taxed.
Urban tax (land tax in France):
The house, main or secondary, is subjected to urban tax. This tax sits on the rental value of the flat. This value is revised every five years by a 2 % increase.
Applicable rates:
Rental value: rate:
De 0 à 3 000 = 0%
3 001 à 6 00/ = 10%
6 001 à 12 000 = 16%
12 001 à 24 000 = 20%
24 001 à 36 000 = 24%
36 001 à 60 000 = 28%
+60 001 = 30%
The urban tax does not apply to the new premises and the complements to construction during 5 years from the date of the licence to live.
The MRE benefits from a dejection of 75 % of the rental value.
Tax of édilité (property tax in France):
Besides the urban tax, you will have to settle an applicable tax on the possessions regardless of what they may be used for. If the building is intended for the main house, you benefit from 75 % dejection in the same way as for the urban tax.
Applicable rates:
- 10 % of the rental value for premises situated in urban districts.
- 60% of the rental value for premises situated in peripheral zones of urban districts.
Renting incomes:
In case of purchase of the already rented property or if you decide to rent your place of residence, you have to declare the income, which is subjected to ‘tax general on income’.
Table of the tax general on the income:
- Annual income from 1 to 20 000dh: exemption from the IGR - from 20 001 to 24 000dh: taxation at the 13 % rate, with an allowance of 2 600dh
- From 24 001 to 36 000dh: taxation at the 21 % rate, with an allowance of 4 520dh
- From 36 001 to 60 000dh: taxation at the 35 % rate, with an allowance of 9 650dh
- 60 001 and more: taxation at the 44 % rate, with an allowance of 14 960dh
Capital gain tax:
The capital gain is the difference between:
- the price of acquisition, increased by the acquisition costs, the realized investment expenditure and the interests paid in conformance with the credits in touch with the property.
The applied rate is 20 %.
However, the amount of the due tax cannot be lower than 3 % of the price of transfer.
Conditions of total exemption from this tax in the following cases: (new conditions - law of finance of 2005)
- Profit gained on the transfer of a flat occupied as main house during at least 8 years, whatever the price of transfer may be.
- Profit gained on the occasion of the first sale of a flat of a social nature.
- Profit gained by each person who undergoes, in the calendar year, building transfers with a value that does not exceed 60 000dh.
- Profit made on transfers that are free concerning matters between married couples and between brothers and sisters.
This exemption extends to other similar conditions:
- To the spouse or to the direct successors who continue to live in the building or in part of the building in cause after the death of the owner.
- To the owner of the property whose rights on his house are in action or in part registered in a transparent building company.
- To the living Moroccans who are abroad for their house in Morocco.
The staff of Paris Oujda Immobilier are at your complete disposal for more information.
This will allow the transfer of the money necessary for the purchase since the country of the future buyers towards Morocco, and will facilitate the rapatriment in case of possible resale of the product on sale and the capital gain.
ACQUISITION COSTS OF A REAL ESTATE IN MOROCCO
The rights and the taxes due to the acquisition of the real estate are owed by the buyer. These rights vary according to the type of property (built on ground, bare ground to build on, building…)
Rights for accommodations to be used as house and grounds not built with commitment of building :
The following figures only concern the houses and apartments that are to be used for living in for a superior duration of 3 years, or the grounds that have not been built on that have a building permit of 7 years.
( % to apply to the value of the acquired property, included VAT)
- Registration fee : 2,5 %
- land preservation: 1%+150dhs (certificate of property)
- Notarial tax: 0,5 %
- Notary’s fees: 1 %, with minimum perception of 2500dhs VAT in 7 %
- Update of the constructions in the land preservation (if necessary) : 0,5 % + 75dhs
- Sundry expenses (stamps…) : approximately 1500 to 3000dhs, according to the file.
- Rights of publication + basic right + duplicate: 600dhs
-Surface area rights : 45 dhs per commenced are (urban area), per commenced hectare (rural area)
- Surveyer : approximately 3000 dhs
- other fees (stamps…) : approximately 1500 dhs
Rights for premises that are for commercial use and grounds not built on without an agreement to build:
- Registration fees: 2,5 %
- notarial tax: 0,5 %
- Land conservation: 1 %
Notary:
Fees of notaries: 1 %, with perception minimum of 2500dhs T.V.A in 7 %
- Other fees (stamps…): 2000dhs approximately.
TAX SYSTEM AND TAXES ON AN ACQUIRED REAL ESTATE
As well as the property possessed by an owner will be subjected to a system of taxes, generally annual (for example land tax and property tax in France), the house or the apartment acquired in Morocco will be taxed.
Urban tax (land tax in France):
The house, main or secondary, is subjected to urban tax. This tax sits on the rental value of the flat. This value is revised every five years by a 2 % increase.
Applicable rates:
Rental value: rate:
De 0 à 3 000 = 0%
3 001 à 6 00/ = 10%
6 001 à 12 000 = 16%
12 001 à 24 000 = 20%
24 001 à 36 000 = 24%
36 001 à 60 000 = 28%
+60 001 = 30%
The urban tax does not apply to the new premises and the complements to construction during 5 years from the date of the licence to live.
The MRE benefits from a dejection of 75 % of the rental value.
Tax of édilité (property tax in France):
Besides the urban tax, you will have to settle an applicable tax on the possessions regardless of what they may be used for. If the building is intended for the main house, you benefit from 75 % dejection in the same way as for the urban tax.
Applicable rates:
- 10 % of the rental value for premises situated in urban districts.
- 60% of the rental value for premises situated in peripheral zones of urban districts.
Renting incomes:
In case of purchase of the already rented property or if you decide to rent your place of residence, you have to declare the income, which is subjected to ‘tax general on income’.
Table of the tax general on the income:
- Annual income from 1 to 20 000dh: exemption from the IGR - from 20 001 to 24 000dh: taxation at the 13 % rate, with an allowance of 2 600dh
- From 24 001 to 36 000dh: taxation at the 21 % rate, with an allowance of 4 520dh
- From 36 001 to 60 000dh: taxation at the 35 % rate, with an allowance of 9 650dh
- 60 001 and more: taxation at the 44 % rate, with an allowance of 14 960dh
Capital gain tax:
The capital gain is the difference between:
- the price of acquisition, increased by the acquisition costs, the realized investment expenditure and the interests paid in conformance with the credits in touch with the property.
The applied rate is 20 %.
However, the amount of the due tax cannot be lower than 3 % of the price of transfer.
Conditions of total exemption from this tax in the following cases: (new conditions - law of finance of 2005)
- Profit gained on the transfer of a flat occupied as main house during at least 8 years, whatever the price of transfer may be.
- Profit gained on the occasion of the first sale of a flat of a social nature.
- Profit gained by each person who undergoes, in the calendar year, building transfers with a value that does not exceed 60 000dh.
- Profit made on transfers that are free concerning matters between married couples and between brothers and sisters.
This exemption extends to other similar conditions:
- To the spouse or to the direct successors who continue to live in the building or in part of the building in cause after the death of the owner.
- To the owner of the property whose rights on his house are in action or in part registered in a transparent building company.
- To the living Moroccans who are abroad for their house in Morocco.
