The 2026 General Instruction on Foreign Exchange Operations eases property financing for Moroccans residing abroad. Dirham loans granted by Moroccan banks may now cover up to 80% of the value of the property acquired, compared with 70% previously.
A broader scope
The new framework covers acquisitions of real property in Morocco with no limit on the number of properties. The remaining share must be financed on terms that make it possible to establish the origin and traceability of the funds.
Bank financing does not override the rules of the convertibility regime. To preserve the ability to transfer abroad the proceeds of a future sale, foreign currency contributions and repayments made from abroad must be capable of being evidenced by the corresponding bank documents.
In practice
Before the purchase, the file should reconcile the loan offer, the preliminary sale agreement, the value retained by the bank, the personal contribution and the costs that are not included in the financing. An 80% loan-to-value ratio does not mean that registration duties, land registry fees and professional fees are included.
It is prudent to keep debit advices, transfer messages, foreign currency sale forms and convertible dirham account statements for the long term. These documents may be required several years later to demonstrate financing in foreign currency and to arrange the repatriation of the capital or the capital gain.
Sources
- Foreign Exchange Office — Publication of the 2026 General Instruction on Foreign Exchange Operations, 2025-12-31.
- Le Desk — Foreign Exchange Office: new provisions to simplify and broaden foreign exchange operations, 2026-01-02.
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This publication is provided for information purposes only and does not constitute personalised tax or legal advice.