Thread: Moroccan Banks
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Old 14-12-2007, 01:45 PM
camel with three humps camel with three humps is offline
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" had read that you couldn't repatriate profit if you originally paid in Dirhams so asked my solicitor and she advised that this is not so (gave me a very long answer on the phone, which I understood to mean that what I had read was not relevant in this case). I hope she is right because I am paying the deposits in Dirhams".

Due to the exchange restrictions ( Hopefully in future this will not be the case.) The bottem line is that wether you makepayment in Dirhams or in other currency.

Your solicitor has to open a account/reference with the relevent ministry to identify you as a foreign investor. Once this is done all your funds should be recorded there irrespective of the type of currency.

All good reputable builders are doing this for their buyers. My developer is doing this and is also placing mine and others monies in an Escrow account as by the law.
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