Buying in Morocco
Moving your money to buy in Morocco: the Office des Changes regime
Morocco guarantees a right to transfer money abroad for a property purchase, but that right is built when the money comes in, not when you decide you want it out. It all rests on tracing the funds from the first transfer, then on filing a declaration within 6 months of the purchase. Skip that step and the purchase itself still stands, but the resale turns into a headache.
- →A property purchase is a form of foreign investment covered by the Office des Changes convertibility regime, which guarantees the freedom to transfer the income it produces and the proceeds of its sale.
- →A foreign currency account or a convertible dirham account is the entry point: the funds keep their convertible status if they are traced from the moment they land in Morocco.
- →Declaring the acquisition within 6 months, with the deed, the invoices and the bank statements, is what preserves your right to move the money out later.
- →A non-resident can finance up to 80 % of the price with a loan, provided they certify they do not already own a home in Morocco.
- →What we could not find in an official source: the regime for repatriating rental income year after year. We say so rather than invent it.
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The principle: the freedom to transfer is earned at entry
The Office des Changes runs a convertibility regime for foreign investment in Morocco. In its own terms, this regime guarantees full freedom to make the investment, to transfer the income it produces, and to transfer the proceeds of its liquidation or sale. A property purchase is explicitly listed among the investment forms covered by this regime.
The point most buyers miss: this freedom is not automatic, it is conditional. It assumes the money entered Morocco in a traceable, documented way, and that this trail was recorded from the start. A buyer who pays part of the price in undeclared cash, or who routes the funds through a third party account, falls outside this framework and effectively loses the transfer guarantee.
Keep the order of operations straight: first the proof of the money coming in through foreign currency, only then the freedom to send it out. That is the reverse of what many people assume, that the exit gets negotiated at the point of resale.
The foreign currency account or the convertible dirham account
Two vehicles let you bring money in while keeping its convertible status: the foreign currency account and the convertible dirham account. The first receives transfers and cheques from abroad and allows withdrawals in foreign currency or transfers back out. The second is denominated in Moroccan dirhams but keeps the convertible character of the funds that feed it.
Both open under the same condition: a document proving residence or establishment abroad. That document is what ties the account to the convertibility regime rather than to an ordinary Moroccan account.
For a property purchase, the choice between the two mostly depends on your banking habits and the currency you want to be able to send back out later. Either way, every deposit needs to stay identifiable, with its date, its origin and its amount.
The declaration within 6 months, the step that protects the exit
Every property acquisition must be declared to the Office des Changes within 6 months. The file includes a copy of the purchase deed, a statement of expenses with the matching invoices, and bank statements proving the financing came from foreign currency or convertible dirhams.
This declaration does not condition the validity of the purchase itself, the notarised deed stands without it. What it conditions is your ability to claim the transfer right later. Without this file, proving the money entered Morocco properly becomes far harder, years after signing.
At resale, the sale proceeds are transferable abroad. The documents required then are a copy of the sale deed and proof of payment of the taxes owed on the transaction. That is where the initial declaration and the bank statements kept since the purchase make the difference.
The loan for non-residents, and what we do not know about rent
A non-resident can finance part of a purchase through a loan from a Moroccan bank, up to 80 % of the price. The bank asks for a sworn statement certifying the borrower does not already own a home in Morocco.
What the official pages we read cover is the transfer of sale proceeds. What they do not cover is the regime for repatriating rental income year after year if you let the property. We do not fill that gap with a guess, it is an acknowledged gap, worth checking directly with your bank and the Office des Changes before counting on frictionless transfers of rental income.
What we can say is that the 2026 finance act introduced a 5 % withholding on rent paid by a company to an individual. That withholding concerns how rent is taxed, not how it is transferred abroad: two separate questions, not to be confused.
What we could not verify
Transferring rental income abroad : The Office des Changes pages we read cover the transfer of sale proceeds, not the regime for rent collected year after year. We do not fill that gap. Ask your bank and the Office des Changes.
Foreign currency account or convertible dirham account
Both open the same convertibility right, the difference is the currency the account is held in.
| Account | Currency | What it allows |
|---|---|---|
| Foreign currency account | The original foreign currency | Receive transfers and cheques from abroad, withdraw in foreign currency, transfer abroad |
| Convertible dirham account | Moroccan dirham | Receive traced funds from abroad while keeping their convertible status |
Both accounts open on presentation of proof of residence or establishment abroad.
Gathering the declaration file in four pieces
- 1
The purchase deed
Keep a full copy of the deed signed at the notary.
- 2
The statement of expenses
Gather the invoices tied to the purchase and, where relevant, to the works.
- 3
The bank statement proving the origin of the funds
Ask your bank for a document tracing the entry in foreign currency or convertible dirhams.
- 4
Filing within 6 months
Submit the full file to the Office des Changes before the deadline expires.
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Frequently asked questions
What is the Office des Changes convertibility regime? +
It is the regime that guarantees a foreign investor, including a property buyer, full freedom to make the investment, transfer the income it produces, and transfer the proceeds of its liquidation or sale. A property purchase is explicitly listed as a covered form of investment.
Do I need to declare a property purchase to the Office des Changes? +
Yes, if you are a non-resident who funded the purchase from abroad. The declaration must be filed within 6 months, with a copy of the purchase deed, a statement of expenses and the matching invoices, and bank statements proving the funding came in foreign currency or convertible dirhams.
What happens if I miss the declaration deadline? +
The purchase itself is not affected. What you weaken is your ability to later claim the right to transfer the resale proceeds abroad, because you cannot prove the money entered Morocco properly.
What is the difference between a foreign currency account and a convertible dirham account? +
A foreign currency account is held in the original foreign currency and allows withdrawals in foreign currency or transfers abroad. A convertible dirham account is denominated in Moroccan dirhams but keeps the convertible status of the funds that feed it. Both open on presentation of proof of residence or establishment abroad.
Can a non-resident borrow to buy in Morocco? +
Yes, up to 80 % of the price, provided they give a sworn statement certifying they do not already own a home in Morocco.
Can rental income be transferred abroad? +
This is the point we could not establish from an official source. The Office des Changes pages we read cover the transfer of sale proceeds, not the regime for rent collected year after year. Ask your bank and the Office des Changes directly before counting on a frictionless repatriation.
Sources and verification date
- Office des Changes, formes d’investissement, art. 766 (6, official text read directly, verified on 2026-07-25)
- Office des Changes, foire aux questions (80 %, official text read directly, verified on 2026-07-25)
- Loi de finances 2026, analyse Deloitte Avocats (5 %, converging independent sources, verified on 2026-07-25)
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