Advantages for Moroccans abroad buying in Morocco: aid, loans and repatriation

Moroccans living abroad (MRE) make up a large share of property buyers in Morocco. They have the same rights as residents, plus several schemes that make buying, financing and, later, transferring the proceeds of a sale easier. Here are all these advantages, with the conditions to check for each.

The advantages at a glance

The Daam Sakane aid

Open to Moroccans living in Morocco and abroad, the direct housing aid pays MAD 100,000 for a new home up to MAD 300,000 including VAT and MAD 70,000 between MAD 300,000 and 700,000, for a first purchase used as a main residence, from a developer. Read the main-residence obligation carefully. See Daam Sakane for MRE.

Financing

Moroccan banks finance MRE on the basis of their income abroad, usually with a down payment and conditions that vary with the country of residence and employment contract. The FOGALOGE guarantee can ease access to credit. See MRE mortgages and FOGALOGE.

Funds: convertibility and repatriation

Financing the purchase with transferred foreign currency, through a convertible dirham account or directly to the notary’s account, allows the proceeds of a resale to be transferred abroad under the general instruction on foreign exchange operations. This is a decisive advantage: keep every proof of transfer. See the convertible dirham account and repatriating the sale price.

Buying without travelling

A power of attorney drawn up at the consulate allows a relative or representative to sign the preliminary contract and the deed. Visits can be made by a trusted person, with photos and videos. See buying from abroad and consular power of attorney.

Points to watch

• The aid schemes have strict conditions (first home, main residence, price caps).
• Rent from a property in Morocco is taxable in Morocco, and sometimes must be declared in the country of residence.
• Scams more often target remote buyers: never pay outside the notary’s account. See scams to avoid.

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