Buyers ask this before they buy, and they are right to. The reassuring answer is that a non-resident owner can, under conditions, transfer the money from a sale abroad. The condition that matters most is documentary: you need to prove how the money entered the country in the first place.
The principle
Morocco's foreign exchange rules are administered by the Office des Changes. For a foreign buyer, the funds used to purchase should come from abroad, converted to dirhams through a Moroccan bank. That operation leaves a trace, and the trace is what lets you move money out later.
What to keep from day one
- The bank advice showing the foreign currency received and its conversion into dirhams.
- The notarial deed of purchase and the payment receipts.
- Any later declaration or certificate issued by your bank in relation to the import of funds.
Put these in one folder, paper and scan. A sale can be delayed by months when the buyer paid in cash or through a relative's account and can no longer prove where the money came from.
At the time of the sale
- The sale is signed before a notary and taxes are paid. See our article on capital gains tax.
- The proceeds arrive in a Moroccan bank account, normally in dirhams.
- You present your file to the bank: identity, deed of sale, proof of tax payment, proof of the original import of funds.
- The bank checks the file and carries out the transfer, within the limits the rules allow.
Is there a cap?
The amount you can transfer is generally tied to what you can document: the funds you imported, and in some cases the gain, subject to the current regulations. Rules evolve, and banks apply them with different degrees of speed. Ask your bank which documents it will require, and ask before the sale, not after.
Our advice
Buy through a regular bank transfer in your own name. Keep the documents. Choose a notary and a bank that are used to non-resident files. If you ever plan to sell, speak to your bank six months in advance. This text is general information, not legal advice, and you should confirm the current exchange rules with your bank or a lawyer.
Frequently asked questions
Can I transfer the money if I paid in cash?
This is where problems appear. Without proof that the funds came from abroad, transferring the proceeds can be refused or delayed. Always pay by bank transfer.
How long does a transfer take after the sale?
It depends on your bank and how complete the file is. Prepare the documents before the sale to avoid waiting.
Do I need to declare the sale in my home country?
Possibly. Tax rules in your country of residence may apply to a gain made abroad. Ask your adviser at home as well.
Related: buying property in Morocco as a foreigner. Contact us if you want us to introduce you to a notary who handles non-resident sales.