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As these businesses continue to grow their employees will also require homes in and around the employment hotspots thereby adding further liquidity and demand to property markets. If we strip away the negative headlines, the political infighting and cultural differences across some regions you will then see the real Africa. International businesses have been targeting Africa for some time now and as the economy continues to grow so will their investment. If we look back to the days of apartheid and trade restrictions with South Africa this area of the world is almost unrecognisable today. There are risks investing in Africa but for many investors the potential benefits are far greater especially for those with a long term investment horizon.
You only have to look at other hotspots, UAE, online payday loans reviews Brazil, and India. However the bottom line is if you can make a profitable long term investment in those countries and be assured that we are not going to get monthly payment loans ripped off in the process. Morocco on the other hand is an emerging market built on potential and little else. Both agree that we have a good case but the first firm and now the second firm cannot be bothered to chase it up. One of my partners went to Morocco and forced a meeting with the developers and our Lawyer did not turn up (twice). He even went to court and was told that we had top ten payday monthly payment loans loans to sue the agent in the UK and the developers in Spain (their head office). I understand that Spanish firms have exported a lot of their unscrupulous practices to Morocco and unfortunately the Moroccan government do not know how to deal with it or are unwilling to do so. This has been going on for some years now and the apartments were supposed to be ready at the end of last year. Guess what, the work has been halted due to the recession.
In the same period our other investments in India have doubled. For me, Morocco was an expensive lesson well learnt. Any developer who is selling off plan in the current economic climate is going to be unstable. Even if they are solvent, why finish a development where a low percentage of the flats have been sold? These companies are in this for the profit, and will be prepared to engage in court cases if they turn out cheaper than completing an unsaleable project.
Despite all this, Morocco still has excellent potential.
But being a property investor is more complicated than signing a contract for an off plan apartment, and then assuming Western standards, ethics and legal recourse. If you want to do business in Morocco, it is necessary to have a compatriot as one can rely on and have the right contacts. I myself have gone through a lot but now I have the right people around me... I have been in Morocco in and out for 3 Years and can understand how rife the corruption is in the government departments.
As I understand in Morocco is that if you dont make the right tenancy agreement then you have to pay bad credit no credit loans the tenant all the rent back to vacate from your property by the Moroccan Law. Most people prefer to rent appartments through estate agents.
The problem with the people there is that they like to capitalise on every opportunity they can have on a foreign investor. In morocco there is no regard for society and every one there is for themselves. For example when people board the bus in Morocco, everyone tries to push through the que. Why do they do that when everyone will eventually board the bus. Finally the moroccan dirham currency is not recognised outside Morocco. There are control restrictions and taxation to convert the currency for exportation. As an investor do you realise monthly payment loans that the hospital and medical bills are expensive (I once paid 2000 dirhams in a clinic to have xrays and injection to kill the pain)? Do you realise the Moroccan mobile meditel and Maroc telecom is more expensive in tariff than England? Do you realise you have to pay garbage tax on your property? Do you realise you cant buy a car in Morocco until you have a Moroccan residence card? Do you realise that when you go to speedy payday loans shop in the souk there are no set prices displayed and that you have to bargain all the time? Do employee payroll loan truconnect you realise that to marry a moroccan you need to make a dosier of approx 13 documents of yourself plus your fiancee, and you need to seek approval from the judge for marriage?
Do you realise that you cant deposit dirham into your bank account until you have a moroccan residence card? Do you realise that for any minor fault the moroccan police will ask you for bribes? Do you realise that you can go to jail for giving a bank cheque from an account with insufficient funds? Do you realise that Morocco has big problems with prostitution, peadophilia and child labour?
Do you realise that the minimum wage in Morocco if you happen to be bankrupt and work is approx 1550 dirhams? Do you realise that in August the temperatures are extreme of approx 45 degrees? Do you realise that electric bills are more expensive in touristic areas than local areas? Do you realise that even to use a public toilet you need to tip the waiter? Do you realise that speaking a foreign language will get you in trouble to buy your produce from the souks as they will inflate the prices? Do you realise that shopping for clothes or food is more expensive on average in Morocco than in England? Do you realise alot of Moroccan migrants make there lives more economical to live in Spain, France, Netherlands, Belgium and how does a cash advance work etc than in Morocco? Got a apartment due for completion in May 2010 in Bella Vista, Cabo Negro.
In brief the resort will have 9 major hotels, 3 golf courses, 840 berth marina, huge commercial centre, water park, sporting facilities. I would like to understand how the legislation surrounding guest houses in Marrakech works. I have heard a number of things surrounding 3 and 5 guaranteed loan approval for bad credit bedroom riads which leads me to believe that nothing under 5 bedrooms can be classed as a guest house and that this legislation came into play recently. As my husband and I are considering buying a riad to renovate in the mdina and then running it as a guest house to cover costs we would like to stay on the right side of the law. We dont want to make a mistake and buy something costly which we cannot recoup any rental from, in which case we will stick to looking for something of a smaller size for family and friends but again we are unclear if we are outside of the law if we take rental from this on a regular basis. If anyone can untangle this one I would be grateful is it is holding up our decision making process until we understand this better. Moroccan government has signed Open Skies agreement with EU to allow European airlines to operate at Moroccan airports without restrictions. Year round sunshine - Hot summers, mild winters, an ideal winter sun destination. I rather put that money towards buying, in England, Spain, South of Italy, Portugal. Atleast things dont work around the whim of the King. Ok thanks for the advice it is useful to payday loans mesa az have an update on the postion in Morocco and how things have worked out over there In comparaison with other Northern African Countries (like Egypt),Morocco has a well regulated buying process and has several tax guaranteed personal loans with poor credit advantages such as no income taxes for the first three years from completion if you are purchasing off-plan.
There are also tax advantages for new businesses, retirees. It is correct that there are no tax exoneration for the council taxes (unless it is your permanent home) but they are not expensive in comparaison to the UK or Europe.
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On the other hand Fes, like Marrakech is flooded by tourists looking for exoctic, out of time, historical type of holiday and those people who have understood that are actually earning good money and enjoying a good return on investment. Most people that I know, including myself had to move to Morocco not only to follow the purchasing process, but the restauration, the start up and the consolidation. I would doubt of any investment in Morocco advertised as a self-managing money making deal. I would like to understand how the legislation surrounding guest houses in Marrakech works. I have heard a number of things surrounding 3 and 5 bedroom riads which leads me to believe that nothing under 5 bedrooms can be classed as a guest house and that this legislation came into play recently.