Foreign exchange regulations: A host of measures for Moroccans living abroad
Operation Marhaba, the 2025 edition of which kicked off on Tuesday June 10, is always an opportunity to adopt new measures in favor of Moroccans living abroad, or to reiterate provisions already in force, particularly with regard to foreign exchange. At this time of year, the Foreign Exchange Office is regularly besieged with questions from members of the national diaspora on vacation in Morocco or planning to stay there.
Over the past few years, the Office has put in place a specific regulatory framework that reconciles flexibility, attractiveness and adaptability. These measures enable Moroccans living abroad (MREs) to benefit from advantageous conditions designed to facilitate their financial and investment operations in Morocco.
In fact, foreign exchange regulations give MREs a special status, combining the advantages usually enjoyed by resident Moroccan individuals with those enjoyed by non-resident foreigners. These preferential conditions include the possibility of opening foreign currency or convertible dirham accounts with Moroccan banks, and obtaining dirham financing for the acquisition or construction of real estate in Morocco.
Moroccans living abroad are also authorized to transfer their Moroccan earned income abroad, or to pay bills relating to the purchase or construction of real estate in Morocco. Moroccans living abroad are also authorized to transfer income earned in Morocco abroad, or to pay bills for school fees, medical care or travel from within the Kingdom. Moroccans living abroad may also expatriate income and capital gains from investments made in foreign currencies, with no ceiling and no need to declare or register with the Foreign Exchange Office. This facility is designed to enable Moroccans around the world to better manage their assets and projects…
Transferring tax residence to Morocco
Former Moroccans living abroad who have transferred their tax residence to Morocco under Law no. 63-14 on assets and cash held abroad enjoy the same foreign exchange advantages as their compatriots who have remained abroad. To do so, they are required to declare their assets (real estate, financial assets and bank accounts) to the Foreign Exchange Office as soon as they definitively return to Morocco. This formality enables them to continue to benefit from their assets held abroad and declared to the Office.
Former Moroccans living abroad may carry out all kinds of transactions without prior authorization from the authorities, such as selling, renting or disposing of declared real estate and financial assets.
In addition, they are authorized to keep their liquid assets deposited in bank accounts opened abroad, transfer them to Morocco, or retransfer them abroad.
Moreover, MREs who decide to return permanently to Morocco may transfer the assets and cash declared to the Office by inheritance or gift, and pay the management fees and loan repayments relating to the real estate declared. The aim of this provision is to support the return of former Moroccans living abroad, and to give them as many guarantees as possible that they will be able to use their assets held abroad as they see fit, while at the same time integrating into the national economic and financial system.
Hassan EL ARIF
