Morocco is gradually establishing itself as one of the most promising emerging markets for foreign investment. The economy is stable, to the point where many foreign companies are relocating their operations there. Morocco’s tourism industry is also developing, and the country has great ambitions of being one of the top 20 tourist destinations in the world by 2020. Morocco is undertaking massive expansions and increasing and updating facilities in order to attract more visitors, thanks in part to this very purpose. These are some compelling reasons to put money into the country.
If you arrive in Morocco with the intention of obtaining residency through investment, you must apply for this type of residency within 30 days of your arrival. You’ll apply for a residency visa, as you would for any other sort of residency in Morocco, and select investment as a subcategory for why you want to live there. There will be financial requirements that must be met, but regardless of whether you have residency, you are allowed to invest abroad. Morocco, in fact, supports foreign investment and attempts to make it as simple as possible.
Business Investment Option
If you choose to make your investment in the form of a business, you can get started right immediately, even if you don’t have a residency visa. To begin, go to the Moroccan Industrial and Commercial Property Office and request a negative certificate. After that, you’ll need to register your company and receive a license as well as a tax ID. After you’ve completed this paper trail, you’ll need to make an official announcement to let everyone know about your new company.
Real Estate Investment Option
The economy has been continuously increasing at 6% per year, and the real estate industry has not been harmed by recessions as it has been in other countries. With the Moroccan government’s desire to continue attracting more tourists, measures to improve infrastructure are in the works. In 2017-2018, this market is only anticipated to increase.
Foreign ownership of real estate is permitted in Morocco, although foreigners are not permitted to own agricultural property. Even if you are not a Moroccan citizen, you can create a Moroccan bank account to exchange currencies.
A lawyer should be involved in the purchasing process. It differs from most countries in that instead of a title for the property, ownership is documented on scrolls. You must purchase a title from a notary in order to obtain one. On a sales deed, acquire both signatures, have it notarized, and then register it.