Real estate investment in Dubai: beware of mirages for Moroccans

Online advertising campaigns for real estate investment in Dubai are attractive, but residents should not rush in headlong or risk being trapped. The legal complexities involved for foreign owners oblige.

In Morocco, Moroccan residents can only carry out transactions in foreign currency for specific reasons, such as business trips or public missions. The Moroccan authorities do not yet allow operations in foreign currency for real estate investment abroad. “According to the general instruction of the Office des Changes in Morocco, currency transactions for Moroccan residents are strictly regulated. Cases where a Moroccan resident, of Moroccan nationality, can carry out transactions in foreign currency mainly include business trips, missions or internships for the public sector, personal trips, studies abroad, as well as healthcare. medical services abroad. Real estate investment abroad is not among the operations authorized for individuals without express authorization from the Office des Changes,” explains Abdelbasset Mohandis, Chartered Accountant and Auditor in an interview with Challenge.