The Ideal Overseas Investment Opportunity
The Light is on Amber - Are You Ready to Go?
Tax Regime sympathetic to investors - The Moroccan government has implemented a number of changes to the taxation regime to make investing in Moroccan property attractive to overseas buyers. These include exemption from certain taxes for a number of years and a significant reduction in others. There is a double taxation treaty in place between the UK and Morocco, so where tax is payable you'll only pay it once.
Government Investment - The King has announced "Vision 201", which aims to have Morocco become a premier destination by 2010 and double tourist numbers to 10 million per annum.
Huge infrastructure improvements underway. The Americans are investing billions in new ports. New airports all around the country are being opened, all joined by a modern, wide motorway system. Plus a significant upgrade of the country's rail system will result in a high speed link between Tanger and Marrakech.
An undersea tunnel planned to link Spain to Morocco. A Swiss firm has just been appointed to oversee a full technical study of the link. Depending on the results of this survey it is estimated that a rail service (similar to the Channel Tunnel) will run through the tunnel and should be in operation by 2025.
An "open skies" agreement has been signed and the Government guarantees world class airport upgrades by 2010. This opens the way for budget flights from the UK and Ireland. RyanAir have announced flights to begin by this summer and will eventually fly to 20 destinations in Morocco, other low cost airlines such as Easyjet and Monarch will follow. At other destinations this has led to a driving down of flight prices and increasing local property prices in areas served by the airports.
Huge new developments - "Dubai-style" are underway backed by the world's largest developers. These will put Morocco firmly on the "destination map". Other developments are underway that will have to conform to strict environmental controls, concerning factors such as building height, that will aim to avoid making the same mistakes as the over-developed Costas in Spain.
The Celebs are moving in - The Beckhams, Jude Law, George Clooney and Brad Pitt have recently visited and bought - this is important, it puts Morocco in the media spotlight. In 2006 newspapers and magazine articles covering Morocco have increased dramatically and a recent survey by the London consultancy "Superbrands" identified Morocco as the second most desirable destination in the world today.
White sand, huge empty beaches and year round warm climate - With over 1,100 miles of coastline Morocco has plenty of unspoilt beautiful coastline to enjoy and a climate that appeals - all year round!
Exotic, yet close - Morocco is the closest "exotic" destination to the UK and Eire and still has great romantic allure. It is also just 35 minutes to Spain and from there 20 minutes to Gibraltar and 45 minutes to Puerto Banus and Marbella on the Costa del Sol.
“I look at property all over the world and have found nothing of this quality for the price this close to home. Places such as Bulgaria are way less important given the short season and lack of feel good sun factor.” K.Clement, International Property Investor
