It's essential to engage a reputable, experienced local solicitor. We have established connections with a London-based Moroccan solicitor who can advise on all aspects of property purchase.

Yes, mortgages are available for 60% of the property value.

Yes, you will need to open a bank account in Morocco. We can do this for you. We will supply all the relevant forms and translations. We advise that all currency transactions are carried out through a broker such as Moneycorp.

15% of the purchase price is payable on exchange of contracts, and a further 25% is split into 8 equal payments until completion. The final 60% is then paid either in cash or via a mortgage.

You should budget for about 5% over the purchase price to cover:
• Stamp duty: 2.5%
• Legal fees: 1.1%
• Notary fees: 0.5%
• Land registry: 1.5 to 2%
• Dispatch fees: about 500 DRh or €30
• Misc (certificates): about 500 DRh or €30

Running costs are set to be around €90-110 per month, including utility, maintenance and management charges.

Capital Gains Tax (TPI) is 20% of the profit, with a minimum of 3% of the sale price. There is a double tax treaty between the UK and Morocco to ensure that this is not paid in both countries. Properties sold after more than 10 years ownership are fully exempt from TPI. Properties sold after more than 5 years ownership but less than 10 years are subject to TPI of 10% of any capital gain over 1 million DRh (about €90,000).

You can sell on to a 3rd party (once the initial 15% has been paid) via a transfer contract drawn up by your solicitor.