Buying in Morocco from abroad: The convertible account, the power of attorney, and the mistake that blocks resale
You can buy in Morocco without living there, and without being there. Nothing in the law stands in the way, signature can be done by power of attorney and everything else remotely.
But there is one exchange-control rule that many discover too late, when they come to sell: only what entered Morocco in foreign currency, declared and proven, can leave it. A purchase paid for any other way resells perfectly well, but the proceeds can stay stuck in Morocco. This article starts there, because it is decided before the first transfer.
The convertible dirham account, to open first
A foreign national, resident or not, and a Moroccan living abroad may freely open a foreign-currency or convertible dirham account, on presentation of a passport, with no prior authorisation.
That account receives your transfers from abroad and is used to pay in dirhams in Morocco. It is what keeps the record of where your funds came from, and it is that record which will open the door out later.
The repatriation guarantee, and the mistake that loses it
The principle set by the Office des Changes fits in one sentence: what came in as foreign currency can go back out, provided you can prove it.
The classic mistake is paying from an ordinary dirham account, or in cash, because it is simpler at the time. The property is yours, the sale is perfectly valid, the taxes are paid. But without proof of the foreign-currency contribution, repatriating the resale proceeds can be refused, years later, when it is too late to correct.
- Open the convertible account before the first payment, not after
- Route every euro through that account, fees included
- Keep the transfer advices, the bank certificates and the deeds
Signing without being there
A power of attorney lets you sign the preliminary contract and then the final deed without travelling. It is drawn up before a notary, and if you sign it abroad it must be legalised and then, depending on the country, apostilled before it can be used in Morocco.
Allow for that delay: it is the document that most often holds up a remote signature. A power of attorney requested three weeks ahead never blocks anything.
Seeing the property without coming
A video viewing, done properly, shows more than a rushed visit: you film slowly, open the cupboards, show the actual view from the window rather than from the top-floor terrace, and go down to the car park.
We also carry out site visits on your behalf, with dated photographs at each stage. You must be able to follow progress without taking a plane, and decide with full knowledge.
What still has to happen on the ground, or almost
Opening the bank account generally requires your presence or a complete file approved by the bank. It is the one step that may call for a trip, and it is settled once and for all.
The rest, reservation, follow-up, payment calls, acceptance, is handled remotely. Many of our buyers come only for the handover.
Frequently asked questions
Do I have to be resident in Morocco to buy?
No. A non-resident foreign national may acquire property in an urban zone. Agricultural land follows different rules.
Can I pay directly from my bank in Europe?
The transfer leaves your bank abroad, but it must arrive in your foreign-currency or convertible dirham account in Morocco. That passage is what constitutes the proof. Have the route approved by your Moroccan bank before the first payment.
How long does it take to open the convertible account?
It depends on the bank and on your file. Start it as soon as your plans firm up: it is the formality that conditions all the others.