How can I legally transfer money from abroad to Morocco to buy a property?

Buying a property in Morocco by transferring money from abroad is a process that needs to be well prepared to avoid any legal problems. Here's everything you need to know to ensure that everything goes according to the rules.

What you need to know before transferring your money

Morocco has introduced strict regulations governing the transfer of funds from abroad. The Office des Changes ensures that transactions are transparent and traceable. Here are some essential rules:

• Money must pass through official banking channels.
• The origin of the funds must be proven.
• Property purchases must be declared to the financial authorities.

By complying with these rules, you can avoid complications and ensure that your investment is secure.

The safest ways to transfer your money

International bank transfer: the most recommended solution

[caption id="attachment_30135" align="aligncenter" width="600"] bank transfer[/caption] The best option is still a bank transfer:

• Make sure you use a recognised bank in Morocco.
• Make a foreign currency transfer to a convertible dirham account.
• Check that "property purchase" is clearly marked.

This guarantees perfect traceability and optimum security.

Open a convertible dirham account

If you live abroad, you can open a convertible dirham account in Morocco. There are several advantages to this type of account:

• You can receive funds in foreign currency.
• The money is convertible into dirhams to buy property.
• If you sell your property, you can repatriate the funds without any problem.

Money transfer services

Companies such as Western Union or MoneyGram can send money quickly, but they are not ideal for large sums. These services can be useful for one-off payments linked to the purchase (solicitor's fees, for example). caption id="attachment_30138" align="aligncenter" width="600"] Money transfer services[/caption]

Justifying the origin of funds: a key step

Moroccan banks and authorities require proof of the origin of funds to avoid any dubious transactions. You will therefore need to provide :

• Your bank statements showing the source of the funds.
• Proof of income (employment contracts, pay slips, tax returns, etc.).
• Proof of official transfer to Morocco.

Tax returns: what you need to know

Before finalising the purchase, there are a few things you need to do:

• Inform your bank and the Moroccan tax authorities of the origin of the funds.
• Pay any taxes and registration fees relating to the purchase of the property.
• Obtain a foreign exchange certificate, which proves that the funds have been transferred legally.

Our advice on avoiding mistakes

• Call in a notary in Morocco to ensure that everything is in order.
• Consult a financial adviser to optimise your transfer.
• Avoid informal channels and always use banks.

Further information

For a better understanding of the impact of tax reforms on the Moroccan property market in 2025, read this article: Marrakech: The impact of tax reforms on the property market in 2025. If you would like to discover the key steps to making a success of your property purchase in Marrakech, read this detailed article: By following these steps, you'll be able to transfer your money with complete peace of mind and buy your property in Morocco without any nasty surprises!