Yes! and quite easily if you meet the following criteria !
The general conditions for obtaining a loan from a Moroccan bank for a non-resident foreigner :
If you meet these criteria and wish to obtain an agreement in principle, or at least a study of your particular case, contact us. One of our agents Côté Medina will put you in touch with our broker on credit. Efficient, reliable, it will save you valuable time and money. Indeed, living abroad, being on the spot only for short terms (usually not more than a week at a time) and not knowing the local banking constraints in terms of credit, if you try your luck directly with any banker, you can wait for your check for months. And even never get it despite a verbal agreement from your advisor. This is unfortunately too common !
Our broker is guaranteed to have the cheque on time, on D-Day, the day the bill of sale is signed, as decided in the sale agreement.
This allows you not to miss the case on which you have set your sights. And this allows us to engage with our owner sellers to defend your offer as a serious offer.
Note that you are entitled to ask the notary to include a suspensive clause related to obtaining your credit. We recommend it. If you do not get the credit, the notary will return your advance and the sale agreement will be cancelled.
But if you have done all these steps it is to be able to acquire the riad of your dreams! Having obtained a reliable agreement in principle, and being able to produce the cheque to the notary in time, for the proper functioning of your acquisition, is very important!
Our real estate agency will be happy to advise and assist you.
n Morocco, only one notary per transaction for both parties. The notary must guarantee the rights of both the seller and the buyer, he is an impartial agent, dedicated to monitoring the morality and legal security of the contracts he authenticates. Before the realization and signature of the compromise (or promise) of sale, he will ensure the legal status of the property: melkia, requisition of registration or land title, and will warn the acquirer of any risks. In particular, they will verify that the property is mortgage-free. If necessary, they will require a building permit and a residence permit. The notary is responsible for drafting the final act of sale and registering the transaction. He takes over the formalities of land advertising.
He may also be responsible for obtaining the tax discharge as well as for settling the tax on real estate profits (TPI) on behalf of the seller.
As purchasers make their investment with foreign currencies, it can take charge of the declaration with the exchange office. Since January 2022, it is no longer necessary to have declared its acquisition with the foreign exchange office in order to benefit from the retransfer guarantees in case of resale. All you have to do is ask for and keep the Form II document produced by the bank receiving the funds from abroad.
The proceedings are written in French or Arabic. The parties must choose a language of writing.
For persons who do not understand the language of writing, a sworn translator or, if applicable, an ad hoc translator (if the sworn translator does not exist in Morocco, such as for Portuguese or Norwegian for example), will be required by the notary. He will be present at the signing of acts, will translate them faithfully and will co-sign the acts.
Notary fees are essentially taxes collected by the notary on behalf of the state (transfer taxes, registration fees with the Moroccan real estate office). To these taxes are added the notary’s fees (usually 1%). Count 7.2% of notarial fees for the acquisition of a securitised property or a registration requisition (in the course of titration). And if your acquisition requires a credit from a Moroccan bank, add 1% of the amount of the credit.
If you purchase a property in Melkia, know that the notary cannot draft a sale agreement or an act of sale as long as the property is in melkia. But some notaries can initiate the titration procedure, which involves obtaining a registration number. In this case, you will sign a private agreement with the seller. Upon obtaining the requisition number, the notary will draw up the deed of sale and register it. In this case, know that the costs will be 13%, or up to 19% depending on whether it is necessary or not to perform an act of istimrar. Rest assured, the agency Côté Medina will be able to guide you and explain in detail the process in question.
A convertible dirhams account is an account reserved for non-resident foreigners. Only foreign currency or funds from another account can be paid into convertible dirhams. But you can withdraw foreign currencies (Euros, Pounds, etc...) or Dirhams (hence its “convertible” name), either in cash directly to the bank, or make transfers abroad. You can apply for a checkbook (only for payments in dirhams) and an international bank card valid for payments and withdrawals abroad. This is the account you will open if you decide to acquire a property in Morocco.
If you become a resident of Morocco, you can also benefit from a dirham account. The account in dirhams, unlike the convertible dirhams account, only works in Morocco: for deposits, payments and withdrawals in dirhams.
All payments you make (purchase, notary fees, works, share capital of SARL, etc.) must come from your convertible dirham account (cheque, or transfer allowing traceability) or possibly from your account abroad to the notary’s account directly, Thus, when you are in a position to sell your property, you will have the guarantee of retransfer, controlled by the Exchange Office.
You must carefully request and keep Forms 2 (from the bank where your account is housed in convertible dirhams, or the bank of the notary who received your funds from abroad) and all the traceability elements of your payments (copy or number of cheques, account statements...) so that the entire fruit of your sale, once the tax on real estate profits (TPI) settled, and the various tax concessions obtained, can be paid by the notary to your account in convertible dirhams or even directly to your account abroad (you choose which option you prefer.
The funds deposited in your convertible dirhams account can be used for another investment, which will itself benefit from retransfer guarantees.
Whether you are a seller or a buyer, your partner Côté Médina will take a look at you and explain everything in detail so that your file is in good order. We are accustomed to and often recover old, wobbly files that we help you put back in good order so that you benefit from all your rights.
If you want to rent a residential property year-round, allow a month of rent to be paid to the agency for contracts of one year and more.If you want to rent a property in free management or commercial lease (rental free management of a guest house for example), count on 10% of the rent over the entire term of the contract. The real estate agency is responsible for advising you, from the search for the property to the completion of the contract with the support of legal and tax professionals (notary and accounting firm). It can make for you the inventory and the inventory of the contradictory places or you can address a real estate expert. The agency will be settled upon delivery of the keys.
Side Medina invoice in accordance with the regulations in force.
If you want to rent your property year-round, for residential use, allow a month of rent to be paid to the agency for contracts of one year and more.If you want to rent a property in free management or commercial lease (rental free management of a guest house for example), count on 10% of the rent over the entire term of the contract. The real estate agency can make for you the inventory and the inventory of the contradictory places or you can address a real estate expert or a bailiff. The agency will be settled upon delivery of the keys.
When you sell a property, whether it is a riad, a traditional house, a guest house in the medina of Marrakech or elsewhere in Morocco, the agency that you have mandated and that allows you to sell will collect 3% tax (2.5% + 20% VAT) of the amount of the sale. These are legal fees. Agency fees are paid at the end of the real estate agent’s assignment, that is, the day the act of sale is signed.
If you want to buy a property, riad, traditional house, charming house, land, ruin, apartment, douirya, in the medina of Marrakech or elsewhere in Morocco, plan to add 3% tax (2.5% + 20% VAT) of the amount of the sale. Agency fees are paid at the end of the real estate agent’s assignment, that is, the day the notarized act of sale is signed. Except for special negotiations, the real estate agent receives 6% including taxes (5% + 20% VAT) of the amount of the sale.
Note that the seller also pays 3% including taxes (2.5% + 20% VAT) of the amount of the sale, which are generally included in the sales price displayed. This is what we practice in Côté Médina. The prices displayed include the agency commission on the seller’s side.
Instead of the regulations in force (agency commissions shared between seller and buyer) you can opt for a net seller offer. More optimal in terms of charges and taxes. In this case, the buyer does not pay commissions and you pay the entire 6% including taxes. You get a lower price, and you optimize on the total purchase amount + notary fees + agency fees.
When you are in the process of making an offer to purchase, we will calculate the various options and help you to formalize your offer optimally.
Until 2021, the residence permit was issued by a commission that verified compliance with the plans and generally compliance with architectural, concrete structure and urban standards.
From now on, the residence permit is issued directly by the architect in charge of the project. He is responsible for it. It can be checked by an administrative commission.
A residence permit is required in the following cases :
What about the Boutique Hotel?
Residence permit and guest house:
Until June 2012, the permit to live was also an obligation to obtain a classification guest house. (Permit to live mention “guest house”). This regulation was applied between June 2008 and June 2012 and was subsequently discontinued. Today it is no longer a mandatory document. It depends on the type of work that was done in the riad.
However, having a Ne Varietur plan, a building permit and a residence permit is an asset.
Only the classification commission of the guest houses decides on the allocation of rankings.
s an intermediary, usually specialized in the area where it is located. You will find them in small neighbourhood shops. Often a key is drawn on their door. Sometimes they display goods in "window".
If he is able to present you goods, unfortunately, his skills will often be limited there. They tend to present everything they know (and even what they don’t know). They have a bad reputation among Moroccans. In the Medina, they are compared to the little bee, which turns around you and buzzes in your ear. It is to be regretted that they have, for the most part, no added value, no sense of service. No sense of market value, what matters is to earn as much as possible on a sale, even if it means rigging prices (selling more than the owner expects and trying to pocket the difference). No legal concept: melkia, title, requisition, ahbous, etc... Do not expect to be properly informed about the legal qualities of the property. Often several intermediaries, who complicate things, each wanting his share of the commissions, if by chance you have found a good that interests you. Sometimes sales do not end only because of the interference of samsar and different intermediaries! Also expect random, unprepared visits. Expect to walk a lot, wait a lot, find closed doors or occupants who do not open. You will lose a lot of time, see few goods in the end and probably very little or none to match your criteria.
If still, by dint of patience and perseverance, you find a good that interests you through a samsar, it is up to you to inform yourself by your own means (notary, land conservation, accountant, bank, etc.) in order to avoid possible pitfalls and to tie your file well for one day resell and dispose of all your rights.
Not necessarily ! If you have a lot of energy, a lot of time and you are adventurous, you just have to manage a good notary and/ or advice from wise friends in order to detect risky situations. This is not impossible, but it is safer to contact a real estate agent who will understand your expectations, select the corresponding goods, prepare the visits in the time allotted for this, and especially to explain all the specificities related to a purchase in Morocco for a foreigner.
A real estate agency like Côté Medina works in transparency, with a reliable knowledge of the market (price and value history, values by geographical areas, expertise of goods), a detailed knowledge of legal situations (and in particular a preliminary study of the legal situations of the goods for sale), an ability to save you time and serenity by coordinating buyer-seller-notary-bank-accountant, during the signing phases, and in the end a perfectly square and unsurprising file so that when resale, whether in the short, medium or long term, you will never be bored.
These regulations are constantly evolving. And the application of the regulations by the Grading Board also changes regularly. Sometimes it classifies with a low level of requirement, sometimes with a high level and does not pass any exception or approximation.
In recent years, a separate male/female toilet and a disabled room on the ground floor of the riad have become an obligation. The filing commission is very demanding right now.
Here I give you the first version of the general conditions, but I invite you to carry out an updated search.
Terms and Conditions:
The guest house is classified «First category» and is characterized by its traditional Moroccan architecture, decoration and furnishings in typical Moroccan style.The services and comfort must be of quality. Breakfast service is mandatory.The rooms, suites and common premises must show a luxurious appearance in terms of layout and equipment.
The “Tier 1” guest house must also have the following characteristics:
The reception must be luxuriously decorated and marked with the traditional Moroccan stamp and include the following services:
The establishment must have a catering service (*2).(*1) parking can be substituted by stopping places near or around the guest house specially reserved for guests.(*2) If the property has more than ten (10) rooms.
Sanitary facilities in common premises:Separate common washrooms for men and women must be provided in common premises. These premises must be equipped with the following necessary equipment: Toilets with flaps and brushes at the level of the basins, urinals in sufficient number, washbasins with hot and cold running water (mixer taps or mixers), electric hand dryer, waste boxes and dispensers for liquid soap, deodorizers and sufficient ventilation (windows or ducts with fans).
C.1. The roomsThe rooms must have a minimum area of 14 m2 and be equipped with:
C.2. Suites Suites must have an area of 25 m2 (bathroom and walk-in closet). They must be luxuriously furnished, and decorated and include, in addition to the amenities and furnishings required for the rooms:
C.3. Sanitaryfacilities Rooms and/or suites must be equipped with full bathrooms of at least 08 m2 including: bathtub with non-slip system, safety handle, sink with mixer, insulated W.C and bidet (optional).
The bathroom must be luxurious, provided with natural or artificial ventilation by duct with fan and equipped with:
D.2. Room- ServiceA room – service must be provided if the infrastructure allows it to provide service in the rooms 24/7 (trolleys, plate bells, food cards, etc.).
D.3. CafeteriaA fully equipped cafeteria must be set up in an independent room offering, exclusively à la carte, breakfast for guests. This space must be sufficiently ventilated and include:
D.4. Patio or inner courtyardThis space must be shaded and may be embellished, possibly, with a fountain or planted with trees. It can also serve as a sitting room – courtyard to serve breakfast.
D.5. KitchenIf the establishment provides the clientele with additional services such as lunch or dinner, a kitchen must be provided for this purpose. It must be studied and equipped to ensure fast and quality service. Its size must be proportional to the number of clients handled by the institution.Kitchen personnel are required to wear proper dress and to follow personal hygiene and dress rules.The kitchen must be fitted out and equipped as follows– a separation hatch must be provided between the kitchen and the dining room so that no odours or noise emanating from the kitchen can be a hindrance to the clientele:
F.1. Management The director of the establishment must be of good character, have a diploma in tourism or have received training in hospitality or have experience in managing tourist units.
F.2. Reception – RestaurantThe reception and restaurant staff must be constantly dressed in traditional Moroccan dress and speak, at least, in addition to the Arabic language, two foreign languages including French.
F.3. Floors – RoomsThe rooms must be maintained by a qualified housekeeper, assisted by maids and/or valets.
F.4. Night service A night shift must be provided at the level of services: reception, floors and maintenance.
All the technical equipment of the establishment must comply with the safety standards in force.
The guest house is called «house of charm» when it has, in addition to the characteristics required for the first category, the following criteria:
Source: Official Bulletin No. 5192 Du 12 Moharrem 1425 (04 March 2004)
These regulations are constantly evolving. And the application of the regulations by the Grading Board also changes regularly. Sometimes it classifies with a low level of requirement, sometimes with a high level and does not pass any exception or approximation.In recent years, a separate male/female toilet and a handicapped room on the ground floor of the riad have become an obligation and the classification commission is very demanding at the moment.
Guest houses “second category”A. General provisions
The guest house is classified «second category» and is characterized by its typical Moroccan architecture, decoration and furnishings in traditional Moroccan style.The services and comfort must be of quality. Breakfast service is mandatory.The “second category” guest house must:
The «second category» guest house must also include:
The establishment must provide a food service (*2).
Sanitary facilities of common premises:Separate communal toilets for men and women must be provided in the common premises. These premises must be equipped with the following necessary equipment: Toilets with flap and brushes at the level of the basins, urinals in sufficient number, washbasins with hot and cold running water (mixer taps or mixers), electric hand dryer, Waste boxes and dispensers for liquid soap, deodorizers and sufficient ventilation (windows or ducts with fans).
(*1) parking can be substituted by stopping places near or around the guest house specially reserved for guests.(*2) If the property has more than ten (10) rooms.
C.1. The rooms
The rooms must have a minimum area of 12 m2 and have:
C.2. Suites Suites must have an area of 20 m2 (attic areas not included: bathroom, wardrobe). They must be well furnished and decorated and include, in addition, the amenities and furnishings required for the roomsA private lounge with quality furniture:
C.3. The sanitaryfacilities The rooms and/or suites must be equipped with full bathrooms with a surface area of at least 03m2 including: bathtub with non-slip system, safety handle, sinks with tap taps, insulated W.C, and bidet (optional).The bathroom must also have natural or artificial ventilation with a ventilator sheath and have:
D.2. Room- ServiceA room – service must be provided (if the infrastructure allows) to provide service in the rooms 24/7 (trolleys, plate bells, food cards, etc.).
D.3. CafeteriaA fully equipped cafeteria must be set up in an independent room for breakfast preparation. This space must be sufficiently ventilated and include:
This space can be used as a lounge – courtyard for breakfast service.
D.5. KitchenIf the establishment provides the clientele with additional services such as lunch or dinner, a kitchen must be provided for this purpose. It must be studied and equipped to allow the application of the basic principles of hygiene and food safety and to ensure fast and quality service. Its size must be proportional to the number of clients handled by the institution.The kitchen must be arranged and equipped as follows:
F.1. Management The director of the establishment must have a diploma in tourism or have received training in hospitality or have demonstrated experience in managing tourist units
F.2. Reception – RestaurantThe reception and restaurant staff must be constantly in traditional dress and speak at least two foreign languages, including French, in addition to the Arabic language.
F.4. Night Duty Nightduty must be provided at the level of services: reception, floors and maintenance;
Source: Official Bulletin No. 5192 Du 12 Moharrem 1425 (04 March 2004)http://www.tourisme.gov.ma/docspdf/Normes09-2003.pd
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