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Legal & Taxation advice

Exemption from and avoidance of inheritance duty :
Moroccan legislation contains these provisions for tax-paying ex-patriot residents of Morocco:
  • Rental income is not subject to income tax (Moroccan IGR) for the 3 years following the completion of the building, followed by a reduction of 40%.
  • There is a total exemption from capital gains tax on the increase in value of a property used as the main residence for a minimum of eight years before being sold.
  • New constructions are exempt from local city taxes for five years.
  • There is no inheritance tax.
  • Retired French people who choose to settle in Morocco benefit from a particularly advantageous tax regime. If they become residents - resident for tax purposes means spending more than six months per year (185 day per year), they enjoy a reduction of 80% on the amount of tax payable on their retirement pension, always providing they permanently transfer a part of their pension into a Moroccan bank account in non-convertible dirhams.
Transfer guarantee, dirham convertibility and no double taxation :
Non-resident foreign investors in Morocco benefit from:
  • Guaranteed facility to transfer abroad the proceeds of the sale of property, with no limits on the period of time or amount of money involved.
  • Guaranteed facility to transfer abroad the profits accruing from sale of property.
  • Tax conventions signed with numerous countries (including France), aimed at avoiding double taxation for non-residents.
Finally, both resident and non-resident foreigners living in Morocco benefit from total currency convertibility of:
  • Sums of foreign currency transferred to Morocco to finance an investment in property (including a personal down payment and monthly mortgage repayments).
  • Rental income from property acquired using money brought into Morocco from abroad.
  • The proceeds of the resale of property.
To be able to benefit from these tax breaks etc. it is necessary to transfer foreign funds into a convertible dirham Moroccan bank account and to inform the Office de Changes via a notary of the acquisition of the property. NB Notaries expenses and fees usually include the following: duty payable on registration at the land registry – between 2.5% (residential use ) and 5% (residential use of a property to be sold within three years and business premises), payment to the land registry - 1%, notary’s fees 1.5%, tax payable on transaction before a notary 0.5% mortgage arrangement fee = 1% of the deposit.

Development Particulars

Preamble:

Jennah Résidence is a forty-one hectare residential and hotel development, comprising three distinct zones:
• Jennah Résidence I comprising 22 villas
• Jennah Résidence II comprising 36 villas
•Jennah Résidence III comprising 12 villas and a luxury resort-style hotel set in 5 hectares of grounds.

Each villa will have its own individual title deed and will be set in a plot of approximately 4.000 sq.m.

Each selection will have its own independent residents’ association to manage security, green areas, drinking water and maintenance of electrical installations and drains.

A- Management of electricity supplies:
     a- a- Electrification of the development: Cables have been buried for safety reasons and also for reasons of convenience and appearance.
     b- b- Low-voltage electrification: each villa will have its own contract with the Office National de l’Electricité (Moroccan utility).

B- Management of water supplies: :
     Water will be supplied from a well managed by the residents’ association by means of an individual water meter for each property. Individual or private wells will be forbidden in order to protect the water table.

C- Drainage: :
     Waste water will channeled to a treatment plant to be recycled for use as irrigation of green areas.

D- Telephone lines:
     The network of land lines is planned to be buried underground for esthetic reasons.

E- Internet:
     Fiber optic cables, with bandwidth of 20Ma/s.

Internal roads:
     Management of the communal areas of the development has been entrusted to a landscape design practice. The internal roads giving access to the properties will be 15 to 18 meters wide. They will be fully finished and lighted, and will include hedges, planting, pedestrian pavements and roads…


NB: All specifications are for information purposes only and may be subject to alteration.

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Contract of Reservation
Development Partixulars
Camilia Particulars
Chacha Particulars
Ghalia Particulars
Haya Particulars
Zaina Particulars
Plan of situation
Booklet