 The state, wishing to regulate the flow of capital, has instituted some regulations to cover inward investment in foreign currency. The ‘office de changes’ must be made aware of the transaction by the notary so that the proceeds of any subsequent sale of real estate property plus any increase in value accruing may be exported from Morocco.
Sums of money from abroad must pass through an account in convertible dirhams which, as its name indicates, ensures that foreign investors will be able to convert their dirhams back into foreign currency at a later date. (dahir dated 15.09.92). This account will allow you to transfer the proceeds of your investment (for example, rental income) as well as to export the proceeds of any subsequent sale together with any increase in value.
In order to have easy access to your funds, which will allow you to lodge a deposit in your notary’s escrow account and thereby put in an offer for your dream property and begin the process leading to the granting of title deeds if you are buying a ‘melkia’ property, we advise you to open an account in convertible dirhams as soon as you arrive in Morocco. You can make payments into account from abroad by means of the SWIFT system and then send a fax to your bank in Morocco asking them to transfer the value of the initial deposit to a notary’s escrow bank account.
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