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Do you realise you have to pay garbage tax on your property?
Do you realise you cant buy a car in Morocco until you have a Moroccan residence card? Do you realise that when you go to shop in the souk there are no set prices displayed and that you have to bargain all the time? Do you realise that to marry a moroccan you need to make a dosier of approx 13 documents of yourself plus your fiancee, and you need to seek approval from the judge for marriage? 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 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 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 you realise alot of Moroccan migrants make there lives more next payday advance 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. Google Secret Morocco and you will find my website! 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 small cap funds 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. 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. I would like to understand how the legislation surrounding guest houses in Marrakech works.
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 next payday advance 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 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 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. The open skyes policy has really been implemented and over the years there has been an increase in number of direct,low cost flights from Europe. I normally get a return flight for around 80 euros. Off course anyone could decide to invest in other European countries I doubt it would be cheaper and someties you would fall into the same problems I have encountered in Morocco.
I come from the south of Italy and we have seen a lot of British people coming to buy a traditional house in the countryside or in the next payday advance historical centers of very characteristic small southern Italian villages. 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.
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I have heard a number of things surrounding 3 and 5 bedroom riads which leads me next payday advance to believe that nothing under 5 bedrooms can be classed as a guest house and that this legislation came into play recently. 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 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.
The truth is that legislation tends to change all the time and not just in general but from town to town. What has been happening in Marrakesh for example is different than Fes, the city where I decided to invest. When I bought my house there almost six years ago I looked at properties that could be developed into a 4 bedroom guest house which was the minimum you had to have to be able to hope to get a licence to operate as a business. It was mandatory to have a dedicated soundproof room for customers to make calls!!! At the same time in Marakesh foreigners where complying to none of the above and still setting up beautiful businesess.
All that has changed now and and I think a lot of those silly restrictions do not apply anymore.
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At the end it did but it has taken me 5 years to finish my project and still next payday advance had to bribe.
What you need to be careful with is how you intend to texas loan operate. I mean, will you set up a company that will purchase a property and make a business out of guaranteed payday loan approval it or will you just be a private owner that will want to run his house as a business next payday advance or set up a separate company that will rent the restored property off you to run it as a business? This option will greatly influence your ability to repatriate some of the money you earn from your business or from its sale should you decide after few years to leave morocco. I think Fes would present more opportunities than Marrakesh were the prices have gone way up and you face a lot of competition. Fes however is a more complicated place: the quality of the artistic value of the houses in the medina is higher but that makes it more complicated to restaure. One thing for sure is that you must be there all the time to follow things up.
One day you could find wall collapsing in a room full of guests and people dying because instead of fixing the cracks on the walls( what you asked and paid for) they just put a layer of plaster and made it all next payday advance look nice. You only have to look at other hotspots, UAE, Brazil, and India. However the bottom line is personalloans if you can make a profitable long term investment in those countries and be assured that we are not going to get ripped off in the process. Morocco on the other hand is an emerging market built on potential and little else.
Both agree that we have a good case but the first firm and now the second firm cannot be bothered to chase it up. One of my partners went to Morocco and forced a meeting with the developers and our Lawyer did not turn find me a loan up (twice). He even went to court and was told that we had to sue the agent in the UK and the developers in Spain (their head office). I understand that Spanish firms have exported a lot of their unscrupulous practices to Morocco and unfortunately the Moroccan government do not know how to deal with it or are unwilling to do so. This has been going on for some years now and the apartments were supposed to be ready at the end of last year. Guess what, the work has been halted due to the recession.
In the same period our other investments in India have doubled. For me, Morocco was an expensive lesson well learnt.
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