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Morocco modern enough for investors - 30 May 2007
Morocco is a good place for investors to do business thanks to various modernisation reforms, one expert has said...
According to Matthew Peters, writing in the Daily Reckoning, a dual tax treaty between Morocco and the UK, the reform of land registry issues and investment in infrastructure are all signs that the country is serious about attracting overseas investors.
In particular, the northern Mediterranean coastal area of Saida, which is witnessing inward investment, is to be recommended "for those seeking a Mediterranean environment" because of its massive white sandy beaches, beach clubs and eucalyptus forest.
Mr Peters warns that short-term speculators will be hit by a 20 per cent capital gains tax on properties sold within five years of purchase. However, the good news is that this decreases to ten per cent within ten years and zero per cent from then on.
Investors may also be interested to know that there is no tax on rental income for the first five years and no inheritance tax if a property is left to family members
"Morocco is clearly worth investigating, if only for a long weekend away. Its proximity to Europe will make it a favourite destination in years to come," he concluded.
According to A Place in the Sun, the arrival of budget airlines in Morocco, such as EasyJet and Ryanair, is "a sign that things are starting to happen".
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