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Do you realise that you cant deposit dirham into your bank account until you have a moroccan residence card?
Do you realise that for any minor fault the moroccan police will ask you for bribes? Do you realise that you can go to maryland payday loans jail for giving a bank cheque from an account with insufficient funds? Do you realise that Morocco has big problems with prostitution, peadophilia and child labour? Do you realise that the minimum wage in Morocco if you happen to be bankrupt and work immediate payday loans is approx 1550 dirhams?
Do you realise that in August the temperatures are extreme of approx 45 degrees? Do you realise that electric bills are more expensive in touristic areas than local areas?
Do you realise that even to use a public toilet you need to tip the waiter? Do you realise that speaking a foreign language will get you in trouble to buy your produce from the souks as they will inflate the prices? Do you realise that shopping for clothes or food is more expensive on average in Morocco than in England? Do quick loans bracket you realise alot of Moroccan migrants make there lives more economical to live in Spain, France, Netherlands, Belgium and etc than in Morocco? Got a apartment due for completion in May 2010 in Bella Vista, Cabo Negro.
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Just enquiring how off plan property in Tetouan is panning out. With the build of a link to connect to Spain, Tetouan was said to be a potential hot bed for investing in Morocco. With moroccan living, we can install a furniture package within the month at the lowest price on the market. Moroccan government has signed Open Skies agreement with EU to allow European airlines to operate at Moroccan airports without restrictions. Year round sunshine - Hot summers, mild winters, an ideal winter sun destination. In brief the resort will have 9 major hotels, 3 golf courses, 840 berth marina, huge commercial centre, water park, sporting facilities. Moroccan government has signed Open Skies agreement with EU to allow European airlines to operate at Moroccan airports without restrictions.
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As my husband and I are considering buying a riad to renovate in the mdina and then running it as a guest house to cover costs we would like to stay on the right side of the law. We dont want to make a mistake and buy something costly which we cannot recoup any rental from, in which case we will stick to looking for something of a smaller size for family and friends but again we are unclear if we free money loans are outside of the law if we take rental from this on a regular basis. If anyone can untangle this one I would be grateful is it is holding up our decision making process until we understand this better. Moroccan government has signed Open Skies agreement with EU to allow European airlines to operate at Moroccan airports without restrictions. Year round sunshine - Hot summers, mild winters, an ideal winter sun destination. I rather put that money towards buying, in England, Spain, South of Italy, Portugal. Atleast things dont work around the whim of the King. Ok thanks for the advice it is useful to have an update on the postion in Morocco and how things have worked out over there In comparaison with other Northern African Countries (like Egypt),Morocco has a well regulated buying process and has several tax advantages such as no income taxes for the first three years from completion if you are purchasing off-plan. There are also tax advantages for new businesses, retirees. It is correct that there are no tax exoneration for the council taxes (unless free money loans it is your permanent home) but they are not expensive in comparaison to the UK or Europe. I have been reading the different posts describing an investment in Morrocco as an easy and fast way to make good money whilest I still think Morocco offers great opportunities for investment I think people will have to be prepared to follow a pathway that is not as easy as it is frequently described in the forum.
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At the begining it used to be cheap, especially for those properties in need of restauration but it lasted not even a year until Italians realized that they could make good money out of it. To my experience, when it comes to corruption the only difference between Italy and Morocco is simply that bribery in Morocco is cheaper).
Five years it has taken me to bring it back to its former glory, restauring old zellije, XIV century old carved wooden balconies and plaster arch which I found condamned into a wall. I did not invest in one of the hundred of thousands of new deelopments few kilometers of the coast of Spain.
I know nothing about that, apart from seeing that they all look pretty much the same and seem far away from what a lot of the tourists coming to Morocco are looking for. I see more wealthy Moroccans interested in that sort of European style living than foreigners.
On the other hand Fes, like Marrakech is flooded by tourists looking for exoctic, out of time, historical free money loans type of holiday and those people who have understood that are actually earning good money and enjoying a good return on investment.
Most people that I know, including myself had to move to Morocco not only to follow the purchasing process, but the restauration, the start up and the consolidation. I would doubt of any investment in Morocco advertised as a self-managing money making deal. I would like to understand how the legislation surrounding guest houses in Marrakech works. I have heard a number of things surrounding 3 and 5 bedroom riads which leads me to believe that nothing under 5 bedrooms can be classed as a guest house and that this legislation came into play recently.
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