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• In January 2001, his majesty, King
Mohammed VI initiated “Vision 2010” for
Morocco’s
tourism industry. A national program to create the
infrastructure to host 10 million tourists by 2010.
This plan includes 6 new luxury resorts with all
the modern amenities that tourists expect.
• Building of the first tunnel linking Europe/Spain
to Africa/Morocco by 2010.
• 11.9 million to be spent on new motorways and roads
with over 1000 kilometers of new roads being laid
• Prestigious projects being built by Middle Eastern
investors, injecting billions of dollars into tourism
projects such as golf courses, marinas, beach clubs
and 5* hotels.
• Open skies agreement, signed recently with the EU, will
open up the skies to allow no-frills/ low cost airlines to
fly to Morocco.
• Free trade agreement between Morocco and USA which
came into effect 2006. This is already having positive
effects on the economy.
• By 2010 Morocco expects to become part of the Euro-Med
free trade zone and is working towards a close relation
with the EU. A significant development that will
undoubtedly boost the economy further still.
• UAE investors are pouring 4.8 billion dollars into
building real estate, shopping malls,
airports, transport infrastructure and beach resorts.
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• Booming property market with yearly price rises
of between 20-30%
• No rental tax for the first five years of ownership
(new properties)
• Capital Gains Tax (TPI) is 20%
of the profit, with a minimum of 3% of the sale price. Properties
sold after more than 10 years ownership are fully exempt
from TPI. Properties sold after more than 5 years
ownership but less than 10 years are subject to TPI
of 10% of any capital gain over 1 million Dh (approx £63,000).
• Full repatriation of funds overseas in the event of
a resale.
• Excellent, year round, rental opportunities with tourism
increasing every year.
• Property Prices at least 50% lower than Spain, which
is just 9 miles away.
• Plans for new high speed rail
network linking major cities.
• Morocco in top five places to invest as stated by
channel four real estate program.
• Secure investment, law based
on French Notary system
• There is no inheritance tax if you leave your property
to a family member |
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