Real Estate & Tax News in Morocco from Propertyshowrooms.com

Top end of the property market performing well in Morocco

Fri, 4 Feb 2011 00:00:00 GMT

Property buyers in Morocco are looking at prime sites located just on the outskirts of Marrakesh, it has been claimed.

According to Philip Arnott, of Morocco Properties, the strongest growth in the country's real estate sector is within the top end of the market.

This in turn has fuelled the number of major developments which are taking place on the outskirts of the city, Mr Arnott told Overseas Property Professional.

"We are finding that the middle market, in which people were looking for a second home or a small riad has gone very flat since the financial crisis," he said.

"Our clients are looking at properties in the €2.3 million to €4.6 million bracket, particularly those which are further out in places like the Palmeraie."

Overseas property buyers benefit from low no property tax to be paid for five years; no inheritance tax and no capital gains tax after 10 years of ownership says Arnott.

Morocco clearly worth investigating, says expert

Thu, 24 May 2007 00:00:00 GMT

Morocco is a good place for investors to do business thanks to various modernisation reforms, one expert has said.

According to Matthew Peters, writing in the Daily Reckoning, a dual tax treaty between Morocco and the UK, the reform of land registry issues and investment in infrastructure are all signs that the country is serious about attracting overseas investors.

In particular, the northern Mediterranean coastal area of Saida, which is witnessing inward investment, is to be recommended "for those seeking a Mediterranean environment" because of its massive white sandy beaches, beach clubs and eucalyptus forest.

Mr Peters warns that short-term speculators will be hit by a 20 per cent capital gains tax on properties sold within five years of purchase. However, the good news is that this decreases to ten per cent within ten years and zero per cent from then on.

Investors may also be interested to know that there is no tax on rental income for the first five years and no inheritance tax if a property is left to family members

"Morocco is clearly worth investigating, if only for a long weekend away. Its proximity to Europe will make it a favourite destination in years to come," he concluded.

According to A Place in the Sun, the arrival of budget airlines in Morocco, such as easyJet and Ryanair, is "a sign that things are starting to happen".

NON-TAXPAYERS BEWARE!

Sun, 7 May 2006 00:00:00 GMT

So you've got a nice little income going into an offshore account from your holiday home rentals abroad, right? Well, from now on, the taxman can gain information on your rental income and enforce heavy penalties for non payment of tax. Unfortunately overseas property owners can no longer assume they will not be found out. In an announcement last week, Gordon Brown passed a new ruling to avoid an estimated £1.5 billion loss in revenue due to unpaid tax each year, while the money sits apparently hidden in offshore accounts worldwide. Brown reminds us that while having an offshore account is by no means illegal, it is never acceptable to conceal the interest earned. Anyone who has been practicing this otherwise illegal and lucrative non-declaration of tax could be liable for tax at 40% plus penalties of up to 100% on profits made. It is estimated that some 750,000 British property owners with homes overseas could end up with a hefty tax bill. Moroccan buy-to-let opportunities are proving highly lucrative to those investing in holiday properties, while Morocco benefits from a dual tax treaty with the UK. You would be well advised to check which other countries also have dual tax treaties with the UK before making your investment and at least avoid being clobbered for tax in both countries…