Can you take your money out of Morocco when you sell a property?

Yes, if you paid for the property with money brought in from abroad. Under Morocco's foreign-exchange rules in force since 1 January 2026 (IGOC 2026), a purchase financed in foreign currency or convertible dirhams carries a guaranteed right to transfer the sale proceeds and the capital gain abroad, once tax is paid. There is no form to file with the Office des Changes: what counts is your bank's settlement document.

Updated 5 October 2026

Key facts

Property bought with foreign currency or convertible dirhams carries a guaranteed right to transfer rental income, sale proceeds including the gain, and inheritance proceeds abroad (Office des Changes, IGOC 2026, Arts. 171-173).
The buyer files no declaration with the Office des Changes: banks report to it, and foreign owners and MREs must keep the bank's settlement documents for their investment (IGOC 2026, Art. 12 and chapter I).
Since 1 January 2026, banks may lend non-resident foreigners and MREs dirhams for up to 80% of a property's price, up from 70% for MREs; the rest must come from abroad (IGOC 2026, Art. 202).
Without foreign-currency funding, a non-resident foreign seller's proceeds go into a 'compte convertible à terme' and leave in four 25% instalments over three years; MREs cannot hold that account (IGOC 2026, Arts. 175 and 241).
The 'MAD 2 million a year after ten years' rule covers only investment income, such as rent, of foreign nationals living in Morocco, not sale proceeds, and excludes MREs (IGOC 2026, Art. 161).

How does repatriating money from Morocco work?

The dirham is not freely convertible, so money leaves Morocco under rules set by the Office des Changes, the foreign-exchange regulator. Those rules are the IGOC 2026 instruction, in force since 1 January 2026.

Buying property counts as a foreign investment (Art. 172). If you finance it with foreign currency or convertible dirhams (Art. 173), you get the convertibility regime, which guarantees the free transfer abroad of (Art. 171):

rental and other income from the property;
the sale proceeds, capital gain included;
inheritance proceeds for your heirs.

Your Moroccan bank makes these transfers itself; no approval from the Office des Changes is needed (Art. 174). The right is earned on the way in: buyers who pay with dirhams already in Morocco usually discover the problem at resale.

What is a convertible dirham account, and do you need one?

It is a dirham account at a Moroccan bank fed with money from abroad, so its funds have a documented foreign origin. Banks may open foreign-currency and convertible-dirham accounts for foreign nationals, resident or not, and for Moroccans living abroad (MREs) (IGOC 2026):

Credits: transfers from abroad or from other such accounts, and foreign banknotes backed by a customs import declaration no more than six months old.
Debits: any payment in Morocco or abroad.
No overdraft is allowed.

The account is convenient, not compulsory. A transfer from your bank at home, converted into dirhams by the Moroccan bank and paid to the notaire, is equally valid financing (Art. 11). Either way, the bank issues a settlement document (Art. 12), and that document is your proof.

You will need a passport and whatever else the bank asks for under its own customer checks. Set up the account or the transfer route before you send any money, and send it from an account in your own name: the rules state no same-name requirement, but matching names avoids questions at resale.

Is there a declaration to file with the Office des Changes?

No. IGOC 2026 contains no exchange declaration for the buyer to file. Banks make periodic returns to the Office themselves, and foreign nationals and MREs must keep the settlement proofs of their investment.

What to keep with your deed, for as long as you own the property:

the Moroccan bank's settlement document for each payment, deposit included (the currency purchase or the convertible-account debit);
the transfer confirmations from your bank at home;
the authentic deed of sale, recording how the price was paid;
receipts for the registration duty and other purchase taxes.

The payment record in the deed now has a tax effect too. From 1 July 2026, a sale above MAD 300,000 pays an extra 2% registration duty on the whole price if the deed does not state how and with what references it was paid, or on any part paid in cash (CGI 2026, Art. 133-III; see buying costs).

What happens when you sell?

Tax comes first. The seller pays capital gains tax of 20% of the net gain, with a minimum of 3% of the price, within 30 days of the sale (property tax guide). The bank then transfers the net proceeds abroad on seeing (Art. 177):

the settlement proofs of your original investment;
the purchase and sale deeds;
proof that the taxes are paid.

A sale between two foreign nationals, or from a foreign national to an MRE, may lawfully be settled directly abroad. The buyer then takes over the seller's convertibility status (Art. 174). The full price must still appear in the deed, and the taxes and fees are paid in Morocco.

What if you bought with a Moroccan mortgage or with dirhams?

A dirham mortgage keeps most of your rights, because the deposit and the repayments must come from abroad or from a convertible account. Since 1 January 2026, banks may lend non-resident foreigners and MREs dirhams for up to 80% of the price, and the balance must come from abroad (IGOC 2026, Art. 202). For non-resident foreigners, the loan is paid into a 'compte spécial' that cannot be transferred abroad, and the borrower signs a declaration on honour that they own no residence in Morocco (Arts. 202-203); MREs are exempt from that declaration. See mortgages for foreigners.

On resale, the net proceeds can be transferred up to the sum of:

your initial foreign-currency contribution;
loan principal repaid with currency from abroad or from a convertible account;
the capital gain.

Without any foreign-currency funding, the outcome depends on who is selling (Art. 174):

Non-resident foreigner: the proceeds go into a 'compte convertible à terme' and can be sent abroad in four equal 25% instalments, the first at once and the others on each anniversary (Arts. 175 and 241).
Foreigner living in Morocco: the proceeds are paid in dirhams in Morocco; on leaving Morocco for good, transfers are capped at MAD 50,000 per full year of residence (Arts. 207-208).
MRE: MREs cannot hold a compte convertible à terme, so proceeds of a dirham-funded purchase carry no transfer right (buying as an MRE).

The 'MAD 2 million after ten years' rule, explained

It does not cover sale proceeds. Article 161 of IGOC 2026 lets banks pay foreign nationals living in Morocco the income from an investment held for at least ten years, even without proof of foreign-currency funding. Rent counts as such income.

Only income for the last closed financial year, net of Moroccan tax.
Capped at MAD 2,000,000 per calendar year.
Not available to MREs, whose investment income is transferable only if the investment was financed in foreign currency.

Non-resident foreigners do not need it, since they can already transfer rental income without limit. It is not a route for taking sale proceeds or capital out of Morocco.

Mistakes that trap money in Morocco

Paying part of the price in cash: there is no settlement document, the cash part pays the 2% surcharge, and an under-declared price lowers your cost base, which raises your capital gains tax on resale (CGI 2026, Art. 65).
Informal transfers through friends, family or private currency swaps, which leave no settlement document.
Paying from an ordinary dirham account: dirhams already in Morocco are not among the financing methods that create a transfer right (Art. 173).
Losing the paperwork: at resale the bank asks for the original settlement proofs.

Currency risk remains whatever you do. The dirham is pegged to a basket of 60% euro and 40% dollar and can move within a ±5% band; Bank Al-Maghrib's reference rate was MAD 10.8-10.9 per euro in September 2026.

Every listing on Villas of Morocco is checked at the land registry for a Titre Foncier and confirmed by a notaire before publication. This is general information, not legal or tax advice: confirm your position with your bank, your notaire or a tax adviser before you transfer funds.

Sources

Frequently asked questions

Can I take my money out of Morocco after selling my property?

Yes, if you financed the purchase with foreign currency or convertible dirhams through a Moroccan bank. Your bank then transfers the sale proceeds and capital gain abroad once the tax is paid, on seeing the original settlement documents and the deeds. Without that funding, non-resident foreigners can transfer the proceeds in four 25% instalments over three years, MREs cannot, and foreign residents of Morocco who leave for good can transfer up to MAD 50,000 per full year of residence.

What is a convertible dirham account in Morocco?

It is a dirham account at a Moroccan bank fed with transfers from abroad or from other foreign-currency accounts, so its funds have a documented foreign origin. Foreign nationals, resident or not, and MREs can open one. Paying for a property from it creates the settlement record that later lets you transfer the sale proceeds abroad. A direct transfer from abroad, converted by the bank, works too.

Do I need to declare my property purchase to the Office des Changes?

No. Under the IGOC 2026 rules there is no declaration for the buyer to file, and banks report transactions to the Office des Changes themselves. Your obligation is to keep the bank's settlement documents for the money you brought in, together with the deed, because at resale your bank will ask for them before it transfers the proceeds abroad.

Can I repatriate 2 million dirhams a year after owning a property for 10 years?

Not from a sale. Article 161 of IGOC 2026 lets foreign nationals living in Morocco transfer up to MAD 2 million a year of income, such as rent, from an investment held for at least ten years, even without proof of foreign-currency funding. It does not cover sale proceeds or capital, and it does not apply to Moroccans living abroad (MREs).

Can MREs transfer property sale proceeds abroad?

Yes, if the purchase was financed in foreign currency or convertible dirhams. For a purchase part-financed with a Moroccan dirham mortgage, the transferable amount is the initial foreign-currency contribution, plus principal repaid from abroad, plus the gain. An MRE who paid with dirhams already in Morocco has no transfer right for those proceeds, because MREs cannot hold a compte convertible à terme.

Can I transfer rental income from Morocco abroad?

Yes, in most cases. Non-resident foreigners can transfer net rent without limit, whatever the financing, by showing the ownership certificate, a lease with a certified date and proof that the tax is paid. MREs need the property to have been financed in foreign currency. Foreign residents of Morocco need either that funding or ten years of ownership, within MAD 2 million a year.

Keep reading

Diaspora

Buy with your exit already secured

Tell us your budget, location and timeline and we will send a private, title-verified shortlist, with guidance on funding, currency and repatriation from the first step.

Request a private shortlist