Moroccans living abroad: what changes in 2026 when buying in Morocco

Moroccans living abroad (MRE) make up a significant share of villa buyers in Marrakech. Their framework changed on 1 January 2026 with the new General Instruction on Foreign Exchange Operations. Here is what changes, and what does not.

Dirham loans up to 80%

The 2026 Instruction allows MRE to finance in dirhams up to 80% of the value of any property in Morocco, with no limit on the number of properties, and free repayment from abroad. For a foreign non-resident, banks in practice remain between 50% and 70% loan-to-value. This is a tangible advantage: on a villa at 1.3 million euros, the minimum deposit falls from 390,000 to 260,000 euros, excluding costs.

Convertible dirham accounts

The convertible dirham account remains the central tool: it receives the foreign currency transferred from abroad, is used to pay for the property and repay the loan, and documents the origin of the funds for the transfer guarantee. We recommend opening it before signing the preliminary contract.

What does not change: taxes

Registration duty (4%), land registry fees (1.5%) and notary fees (around 1% plus VAT) are the same for everyone. Rents are taxed at a final withholding rate of 10% or 15% of gross income depending on the 120,000 dirham threshold, or at the progressive scale after a 40% allowance. On resale, the tax on property profits is 20% of net profit, with a minimum of 3% of the sale price; the main-residence exemption requires six years of occupation, which does not apply to a second home.

And in the country of residence

The tax treaties signed by Morocco with France, Belgium, Switzerland, Spain and Italy allocate the taxation of property income to the State where the property is located. The country of residence eliminates double taxation by exemption or by credit, but the income generally still has to be declared. The MRE tax guide published by the Ministry Delegate details these situations; a tax adviser must validate yours.