Morocco Property

Morocco Propery and the place........

Morocco really is the worlds best kept secret! Expecting a large expanse of desert, we were shocked to arrive and find a beautiful, lush landscape. Greener than Spain and far less expensive, Morocco is truly breathtaking.

With miles of un-spoilt beaches and the same warm, sunny days experienced by other Mediterranean resorts, clear from the outset.

Property prices 50% less than other European resorts
Low cost of living - similar to Spain circa 1970's
Beautiful Golf Courses, Tennis Clubs & Riding Clubs
Moorish culture at its finest
Mediterranean Climate
Enjoy a luxury lifestyle for very little
Yacht club and berth fees for under £27/month
10 Year build guarantee (similar to NHBC)
French, Spanish & English widely spoken as well as the traditional Arabic
Costa del Sol just 30 minutes away by hydrofoil

CLIMATE

Northern Morocco may just have the ideal climate. Temperatures are consistently mild all through the year, rarely surpassing 30ºC/86ºF in summer months. Lows tend not to drop below a minimum of 10ºC/50ºF. On warm days one can rely on a steady, comfortable sea breeze. Rainfall averages 150mm (6 inches) per month - mostly during the winter season. Morocco (like Spain) has more than 330 days of sun annually.

THE HIGH LIFE

Anyone mixing in celebrity circles will tell you that Morocco is considered one of the most fashionable retreats for the rich and famous, with an "inner circle" of over 700 internationally recognised celebrities frequenting the country on a regular basis. Famous home-owners in

Morocco:
Yves Saint Laurent
Malcolm Forbes
Elizabeth Taylor
P Diddy
Barbara Hutton
The Rolling Stones
Jean Paul Gaultier
Richard Branson
The Beckhams

Morocco’s king is a moderniser with a very definite project to quadruple foreign investment and tourism by 2010. This has lead to the beginnings of a property boom in the area, Early-bird purchasers are snapping up bargains in some of the most beautiful parts of the Mediterranean coast.Our selection of property in Morocco, mainly around Cabo Negro, Tetoan, Marina Smir, Tangier will delight you. Build quality is excellent, cost of living and cost of maintaining property are very low, plus a high standard of living is guaranteed.Morocco is safe, friendly and very inexpensive. If you haven’t been before you are certainly in for a surprise. Why not book one of our free, no-obligation viewing trips.

WHY INVEST IN MOROCCO?

With miles of un-spoilt beaches & the same warm, sunny days experienced by other Mediterranean resorts, the attraction is clear from the outset

THE ATTRACTION

Property prices 50% less than other European resorts
Low cost of living
Beautiful Golf Courses, Tennis Clubs, & Riding Clubs
Mediterranean climate
Yacht club & berth fees for under £27/month
10 year build guarantee (similar to NHBC)
French, Spanish & English widely spoken as well as traditional Arabic
Costa del Sol is just 30 minutes away by hydrofoil once past the border
Moorish culture at its best
Enjoy a luxury lifestyle for very little.

Its FINANCIAL BENEFITSMorocco offers additional benefits from a financial standpoint which makes it a highly attractive prospect for purchasers:

Low property taxes
Safe investment - Notary supervised property registration similar to France & Spain
Easy repatriation of investment should you re-sell in the future
Only 20% tax on any capital gains
Property market booming - average rises of 15% per year achievable
Rental occupancy reaching 85% most years during the Peak Season
70% mortgages available with current 7% mortgage rates

IT'S CURRENCY

A Euro equals 10.8 Dirhams, & a Sterling Pound equals 16.3 Dirhams. The unit of currency is the Dirham (Dh), which is divided into 100 centimes. Business visitors are advised to consult their banks for the current rate of exchange. No import of Dirhams is allowed. Overseas visitors need to change their currency into Dirhams locally. The Moroccan Central Bank (Bank Al Maghreb) fixes the value of the Dirham using a basket of currencies including the Euro, Dollar and Yen. The Dirham is not yet fully convertible.

MOROCCO TAXATION GUIDE

The Morocco tax system is modelled after the French system and has quite a few complexities. We always consult and work closely with our international tax advisers prior to offering our investors tax reduction strategies. The following information is a very basic guide to the Morocco tax implications for UK investors:

BUY AND HOLD/LET STRATEGY

PERSONAL INCOME TAX ON RENTAL INCOME (IGR)UK investors utilizing a buy let strategy will be responsible to pay tax on this income. In Tangier 60% of this income is taxable at 22% (other parts of Morocco are taxed at 44%). The city of Tangier has a 50% reduction on rental income tax adding yet one more advantage to invest in Tangier.

There is also three year exoneration for the first three years the property is owned.

PROPERTY TAX

(Taxe Urbaine) (Personal vacation home option)Property taxes are paid annually. The first five years owners have full exoneration (Property agencies are NOT included). After 5 years the tax is based on the property's annual rental value.

PROPERTY RENTAL TAX

(Taxe Urbaine) (Investor option)Investors pay 13.50% on the rental value of the property.
GARBAGE COLLECTION TAX (Fiscalite des collectivites locales)There is a 5 year exoneration from the garbage collection tax. Tax is levied at 10% of the property's annual rental value.

BUY AND SELL STRATEGY

CAPITAL GAINS TAX (Taxe sur les Profits Immobiliers - TPI)Capital gains tax is 20% of profit with a minimum of 3% of the sale price. TPI is based on the sale price less the purchase price.
Purchase price includes the following:

Credit expense
Registration cost
Notary fees and tax
Repairs
Brokerage fees
Inflation (based on a government table)

The second option in calculating the purchase price is to just add 15% to the purchase price. This option is often used in the case that invoices are not available to justify the expenses.

EXONERATION FROM CAPITAL GAINS·

The property is sold after owning it for more than ten years.
· The property is owned for more than 5 years but less than 10 years. In this case the TPI tax 10% of any capital gain over 1 million Dirhams.

INHERITANCE TAX

This tax is 0% for family members. Expert advice should always be obtained prior to implementing any inheritance tax planning strategies. The most important piece of advice we can offer on this subject is - make a Moroccan will!
UK-MOROCCO TREATY

There is a double tax treaty between the UK and Morocco that ensures investors do not suffer Capital Gains tax in both countries.

CORPORATE TAX

If you intend to purchase a number of Moroccan properties it may well be worth considering establishing a Moroccan Private Limited Company -The private limited company (SARL) (Setup time is about 3 weeks).

The SARL is an intermediate type between associations of persons and of capital, bearing resemblance to both partnerships and share companies. It is always a trading company, regardless of its corporate name and its minimum equity capital is 100,000 dh. It may be formed by two or more members who are only liable to the amount of their share of the equity capital in the company. Unlike a general partnership, members of a private limited company do not need to be registered merchants.

The private limited company must file a memorandum of association as part of its incorporation process. The capital stock has to be fully described and paid up as the company is formed. Stocks shall have the same face value and are not negotiable; they may be transferred only through contracts. "Parts Sociales" may be transferred to third parties outside the company only with the co-associates' consent.

Tangier is 50% of the tax rate in the rest of the country.
8.75% for the first 5 years
17% after 5 years
10 reasons to buy your holiday home in Morocco
Real estate prices 50% the cost of Europe
Low property taxes
Spectacular ocean view and beach front properties
Moderate Mediterranean temperatures all year long
Maid, gardener and general administrative services 10-12 Euros a day
Exotic tourism excursions
Yacht club and berth fees for your boat under 300 Euros a year
Beautiful golf courses
Tennis clubs
Riding club

Inspection Trips

We recommend that clients fly to Malaga airport. There they will be met by our courier who will take them directly to Algeciras ready for the 30 minute hydrofoil trip to Tangier. OIG British staff will be on hand to collect clients at Tangier and take them to their hotel at Marina Smir. Arrangements will be made to view the Marina Beach development and visit local places of interest. Our British and American staffs have lived in Morocco for many years and will be able to answer all clients' questions relating to property purchase, legalities and lifestyle in Morocco. At the end of the visit clients will be returned to Tangier ready for the trip back to Algeciras in mainland Spain. Our courier will collect them and return them to Malaga airport ready for their return trip to the UK. Should clients wish to view properties on the Costa del Sol prior to returning to the UK then hotel accommodation can be arranged in Spain if required.

For information: visit http://www.overseasinvestmentgroup.co.uk/default.asp?id=91

Overseas Investment Group In Morocco

With access to more new developments in Morocco than anyone else, look no further than Overseas Investment Group to find your ideal property in Morocco.
Morocco's property market is booming. Thousands of visitors each month are discovering the lush green coastline of Morocco, with vast unspoiled beaches and rich, colourful culture.
Morocco's scenery is surprising and beautiful, surpassing all expectations. Photographs of Morocco can be seen here at http://www.overseasinvestmentgroup.co.uk