Rental income from Moroccan property

Last activity 10 August 2024 by hiddeneyeservices

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ksquaredNew member28 March 2024 12:33:03

Can anyone who currently lets out their property in Morocco whilst residing mostly in home country please advise?

I am getting conflicting information on taking rental income out of the country. I wish to let out our holiday house and use the income in the UK, as the financial climate is forcing me to look into establishing another income stream. Does anyone know how this works, where taxes would be paid (would it be in both countries?) and if I would have to charge in euros or gpb to get the money out? It would be great to be pointed in the direction of a solid information source for these matters, and to hear from anyone who is currently doing the same sort of thing.

Thanks

KhaboussifNew member29 March 2024 08:38:41

Taking money out of Morocco is subject to regulations and restrictions imposed by Moroccan authorities. Moroccans face limitations on transferring funds abroad due to foreign exchange controls and anti-money laundering measures. Here are some key points to consider

If you tranfer any money to moroco .

You must first understand the process of take back to your home. Tranfer money though a bank for documentation.

You must pay

Property tax and revenue sur rental

is 1.5 or 2 month of annual rent .

Try to invest in home or spain as it is hRd to manage your property in morocco .

hiddeneyeservicesActive member10 August 2024 15:14:50

I am thinking to invest in real estate in morocco as british national but i am wondering how can i put rent into my convertible account ? As the only type of account which i can open is convertible account . And i canot deposite cash or cheque in to the bank directly.

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