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Legal and financial information

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When becoming owner of a residence in the Parcs de l’Agdal, you subscribe to a unique concept in Marrakesh : immersion into an enchanting environment, a fabulous climate, the discovery of a rich and fascinating culture, and facilities adapted to rest, sports and well-being... But Eden Développement’s innovative spirit goes even further, because you benefit from personalised legal advice.

1/ Advantages of the Moroccan tax system

General rules :

• No inheritance tax for Moroccans,
• Unrestricted transfers, from Morocco, of the proceeds of the sale of real estate and of rental income, with no time limits or amount limits,
• Unrestricted transfers, from Morocco, of net capital gains on sales,
• Full exemption from capital gains tax where the property has been used as a main residence for 8 years,
• Exemptions, for residents, from income tax (IGR) on the rental income for 3 years following completion of building works,
• Exemption from “urban tax” for five years.
• Furthermore, nonresidents benefit from numerous treaties designed to avoid double taxation, signed by Morocco and a number of other countries.

For retired people

• Retired people with foreign-source pensions benefit from an 80% tax relief on the amount of tax due on such pensions. The only condition is the definitive transfer of their pensions to an account in nonconvertible Moroccan dirhams. It is, of course, possible to only transfer as much of the pension as is required for living in the country. The taxation can therefore be very low, about 5 to 15%.

2/ Opportunities offered by Eden Développement

Off-plan sales :

Property in the Parcs de l’Agdal are to be purchased under the law on off-plan sales. The funds are deposited with a notary. Payments will be made by instalments as the work progresses, as follows :

• 5% as a deposit when the reservation agreement is signed,
• 30% when the preliminary contract is signed,
• 25% when the last concrete slab is poured,
• 20% when the building is boxed up,
• 15% when the finishing touches are 50% completed,
• 5% at the final delivery.

The maximum delivery time is 18 months after the signing of the preliminary contract.

The expenses and taxes relating to the preliminary and final contracts :

• Stamp duty, land tax, amongst others, and notary fees represent around 5.3% of the tax-inclusive selling price and are payable in two parts, the first at the signing of the preliminary contract, the second the signing of the final contract.
• The buyers will benefit from professional legal and tax advice (lawyer and notary) throughout the real-estate operation.

Guarantee of the deposits made :

• According to the law on off-plan sales, Eden Développement will offer to its clients, in return for the payments made, a guarantee of the deposits made.

Rental management possibilities :

• The attractiveness of the Parcs de l’Agdal real estate should allow its owners to obtain significant rental profitability, estimated between 5 and 7% net.

International Certification

• Eden Développement, motivated by the quality and seriousness of its approach, is in the progress of obtaining International Certifications (i.e., the ISO 9001 for management, the ISO 14001 for environmental awareness and the OHSAS 18001 for compliance with safety standards) with a view to meeting the best international quality standards and thereby joining the select group of 250 certified companies in Morocco, such as Bouygues Bymaro, Maroc Télécom, etc.

 

 

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